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| MARCH 2025 | |||
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| Units Sold 14 |
Active Inventory 118 |
Median Sale Price $225,000 |
Days On Market 79 |
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| Down -7% Vs. Year Ago |
Up 19% Vs. Year Ago |
Up 3% Vs. Year Ago |
Down -10% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in March, with 14 sold this month in Somerset County Real Estate versus 12 last month, an increase of 17%. This month's total units sold was lower than at this time last year, a decrease of 7% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 19 units or 19%. The total number of active inventory this March was 118 compared to 99 in March 2024. This month's total of 118 is higher than the previous month's total supply of available inventory of 110, an increase of 7%. |
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Median Sale Price
Last March, the median sale price for Somerset County Homes was $219,000. This March, the median sale price was $225,000, an increase of 3% or $6,000 compared to last year. The current median sold price is 8% higher than in February. 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 33 |
Current Contracts 19 |
Sold Vs. List Price 95.6% |
Months of Supply 8.4 |
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| Up 10% Vs. Year Ago |
No Change Vs. Year Ago |
No Change Vs. Year Ago |
Up 28% Vs. Year Ago |
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Months of Supply
In March, there was 8.4 months of supply available in Somerset County, compared to 6.6 in March 2024. That is an increase of 28% versus 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 33 homes newly listed for sale in Somerset County compared to 30 in March 2024, an increase of 10%. There were 19 current contracts pending sale this March, consistent with the volume a year ago. The number of current contracts is 5% lower than last month. |
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Sale Price to List Price Ratio
In March, the average sale price in Somerset County was 95.6% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 79, lower than the average last year, which was 88, a decrease of 10%. | |||
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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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