Somerset, NJ Housing Market & Real Estate
Housing market overview · Updated weekly ·
Quick answer: The median home sale price in Somerset, NJ is $577,500, up 28.3% year-over-year. Homes sell in an average of 57 days with 31 active listings. The market is currently a balanced market.
$577,500median sale price
Is Somerset a buyer's or seller's market?
Somerset, NJ is currently a balanced market, based on 2.6 months of supply and homes selling in about 57 days. How we determine this →
Homes sold
12
Last 12 weeks
Days on market
57
Average pace
Active listings
31
2.6 months supply
Sale-to-list
99.6%
Below asking
Somerset, NJ market data
| Metric | Value |
|---|---|
| Median sale price | $577,500 |
| Median list price | $484,500 |
| Year-over-year price change | +28.3% |
| Average days on market | 57 days |
| Active inventory | 31 listings |
| Months of supply | 2.6 months |
| Sale-to-list price ratio | 99.6% |
| Market condition | Balanced market |
Source: Redfin · Updated weekly
The Somerset housing market is currently classified as a balanced market with a median sale price of $577,500. Prices have risen 28.3% compared to last year, with homes spending an average of 57 days on market, indicating 2.6 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.
Market trends
Homes for sale in Somerset
There are currently 31 homes listed for sale in Somerset, New Jersey. The median listing price is $485K.
Active listings
31
Homes on market
Median list price
$485K
Avg. days on market
57
Days until sale
New this week
24
Newly listed
Top public schools in Somerset
10 schools tracked · 7,691 students
The largest public schools serving Somerset, NJ by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Franklin High School
Grades 9-12 · 2,200 students
Central Jersey College Prep Charter School
Grades K-12 · 1,357 students
Franklin Middle School at Sampson G. Smith Campus
Grades 6-8 · 714 students
Franklin Middle School at Hamilton Street Campus
Grades 6-8 · 667 students
Thomas Edison EnergySmart Charter School
Grades K-12 · 608 students
Elizabeth Avenue School
Grades PK-5 · 561 students
Hillcrest School
Grades PK-5 · 452 students
MacAfee Road School
Grades PK-5 · 420 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
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Frequently asked questions
What is the average home price in Somerset?
The median home sale price in Somerset is $577,500, up 28.3% from last year.
How long do homes stay on market in Somerset?
Homes typically spend 57 days on market before going under contract.
Is Somerset a buyer's or seller's market?
With 2.6 months of supply, Somerset is currently a balanced market.
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