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| DECEMBER 2024 | |||
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| Units Sold 22 |
Active Inventory 101 |
Median Sale Price $194,950 |
Days On Market 100 |
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| Up 22% Vs. Year Ago |
Up 23% Vs. Year Ago |
Up 15% Vs. Year Ago |
Up Vs. Year Ago |
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Units Sold
The number of units sold remained stable in December, with 22 sold this month in Somerset County Real Estate. This month's total units sold was higher than at this time last year, an increase of 29% versus December 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 19 units or 23%. The total number of active inventory this December was 101 compared to 82 in December 2023. This month's total of 101 is lower than the previous month's total supply of available inventory of 115, a decrease of 12%. |
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Median Sale Price
Last December, the median sale price for Somerset County Homes was $169,000. This December, the median sale price was $194,950, an increase of 15% or $25,950 compared to last year. The current median sold price is 13% higher than in November. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 22 |
Current Contracts 23 |
Sold Vs. List Price 92.3% |
Months of Supply 4.6 |
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| Up 29% Vs. Year Ago |
Up 28% Vs. Year Ago |
Down Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In December, there was 4.6 months of supply available in Somerset County. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand. |
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New Listings & Current Contracts
This month there were 22 homes newly listed for sale in Somerset County compared to 17 in December 2023, an increase of 29%. There were 23 current contracts pending sale this December compared to 18 a year ago. The number of current contracts is 28% higher than last December. |
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Sale Price to List Price Ratio
In December, the average sale price in Somerset County was 92.3% of the average list price, which is lower than at this time last year. Days on Market
This month, the average number of days on market was 100, higher than the average last year, which was 64. This increase was impacted by the limited number of sales. | |||
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| *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates. | |||
 Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc. |
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