What has been going on in the Somerset housing market during August?

What has been going on in the Somerset  housing market during August?

Here is some real estate market data describing the housing market here in Somerset during the month of August and how it compares to the same time last year. The data is from the MLS and is for single family homes.

There were 14 single family homes sold in Somerset during August 2011 at an average sale price of $197,643 and median price of $197000. For the same period in 2010, 10 single family homes sold with an average sales price of $202,890 and median price of $203,500.

Volume is up this year by 40%, while the average price in down 2.6% and the median price down 3.2%.

There are currently 106 single family homes for sale in Somerset, with a median asking price of $244,950, as compared to a year ago when there were 96 homes with a median asking price of $266,164.50.

 Greater inventory along with lower asking prices and historically low interest rates puts those interested in purchasing a single family home in Somerset in a very good position. It’s time to act now!

To learn more about the Greater Somerset MA area, visit my website at www.stevew-homes.com or contact me directly at 508-558-8035.