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Somersett Market Statistics

What's Happening in the Somersett Real Estate Market?

Contact us for any questions regarding Somersett properties 775-561-4000 / farmer@gentlemanwithbrains.com

(Updated Summer/Fall 2014)

SOMERSETT wasn't spared from the severe real estate recession that hit Nevada in 2006. But as of January 2011, Somerset real estate values has significantly gone up. This is due to increased demand and low housing inventory in Reno.

(You can click on any of the Somersett market stats below:)

Somersett Median Price Sold

Somersett Real Estate Demand

Somersett Real Estate Supply

Months Supply of Inventory (MSI)

Somersett Home Values(Updated: 2014)

Currently, average home price in Somersett is around ~~$250,000~~$341,550. Prices has significantly gone up since 2011.

Demand for homes in Somersett continue to increase:

Somersett housing market hit bottom in 2011. Property prices has gone every year since 2011's market bottom.

Home Value - of Somersett Properties Sold

In 2008, my brother-in-law wanted to buy a house in Somersett (Pulte's "The Vue"). Homes were selling for almost half the price from just three years ago (2005) but he asked me this question, "Is the market still going to go lower?" I answered with an unequivocal YES. Now, times have dramatically changed. Generally speaking, it's a pretty good time to buy a home in Somersett.

As the general Reno housing market has not only found a bottom, home values have increased too; top gated communities like Somersett, ArrowCreek, Caughlin Ranch, and Montreux are experiencing renewed confidence from home buyers, especially from out of state investors.

"Is it a good time to buy?" My answer to that, is rather unexciting...It depends on your needs. But just know that the Somersett market is already going north, the absolute bottom is behind us (2011). If you plan on staying in the house for at least a few years, now is still a good time to buy. It's always helpful to have a close view of the market trends.

So without further ado, here's the Somersett market:

Somersett Sold Median Price (2009-2013)

Somersett Sold Median Price (2009-2013)

Jan 2013: $334,710
Dec 2012: 264,500
Nov 2012: $289,000
Oct 2012: $285,780
Sep 2012: $250,000
Aug 2012: $275,250
Jul 2012: $260,000
Jun 2012: $251,838
May 2012: $207,500
Apr 2012: $245,000
Mar 2012: $265,000
Feb 2012: $227,500
Jan 2012: $248,130
Dec 2011: $230,194
Nov 2011: $297,500
Oct 2011: $230,000
Sep 2011: $235,000
Aug 2011: $197,000
Jul 2011: $265,000
Jun 2011: $280,000
May 2011: $240,000
Apr 2011: $262,450
Mar 2011: $266,000
Feb 2011: $265,000
Jan 2011: $290,000
Dec 2010: $206,325
Nov 2010: $289,980
Oct 2010: $228,341
Sep 2010: $260,000
Aug 2010: $298,000
Jul 2010: $275,000
Jun 2010: $322,450
May 2010: $259,500
Apr 2010: $278,000
Mar 2010: $245,000
Feb 2010: $304,075
Jan 2010: $240,820
Dec 2009: $234,000
Nov 2009: $280,000
Oct 2009: $223,000
Sep 2009: $245,945
Aug 2009: $319,950
Jul 2009: $315,000
Jun 2009: $275,003

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Somersett Real Estate Demand (units sold)

Jan 2013: 14
Dec 2012: 18
Nov 2012: 23
Oct 2012: 17
Sep 2012: 19
Aug 2012: 24
Jul 2012: 15
Jun 2012: 18
May 2012: 18
Apr 2012: 19
Mar 2012: 17
Feb 2012: 16
Jan 2012: 13
Dec 2011: 28
Nov 2011: 12
Oct 2011: 17
Sep 2011: 13
Aug 2011: 9
Jul 2011: 20
Jun 2011: 14
May 2011: 19
Apr 2011: 14
Mar 2011: 16
Feb 2011: 14
Jan 2011: 9
Dec 2010: 16
Nov 2010: 15
Oct 2010: 15
Sep 2010: 21
Aug 2010: 23
Jul 2010: 15
Jun 2010: 12
May 2010: 18
Apr 2010: 21
Mar 2010: 11
Feb 2010: 12
Jan 2010: 17
Dec 2009: 11
Nov 2009: 18
Oct 2009: 23
Sep 2009: 20
Aug 2009: 20
Jul 2009: 17
Jun 2009: 24

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Somersett Real Estate Supply (for sale)

Jan 2013: 49
Dec 2012: 51
Nov 2012: 55
Oct 2012: 69
Sep 2012: 80
Aug 2012: 91
Jul 2012: 89
Jun 2012: 84
May 2012: 74
Apr 2012: 75
Mar 2012: 74
Feb 2012: 81
Jan 2012: 90
Dec 2011: 95
Nov 2011: 101
Oct 2011: 102
Sep 2011: 114
Aug 2011: 128
Jul 2011: 115
Jun 2011: 108 homes
May 2011: 115
Apr 2011: 102
Mar 2011: 95
Feb 2011: 94
Jan 2011: 94
Dec 2010: 98
Nov 2010: 107
Oct 2010: 104
Sep 2010: 104
Aug 2010: 118
Jul 2010: 128
Jun 2010: 136
May 2010: 115
Apr 2010: 115
Mar 2010: 119
Feb 2010: 110
Jan 2010: 105
Dec 2009: 108
Nov 2009: 108
Oct 2009: 124
Sep 2009: 137
Aug 2009: 137
Jul 2009: 143
Jun 2009: 147

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Somersett MSI (months supply of inventory)

Jan 2013: 2.0
Dec 2012: 3.7
Nov 2012: 3.5
Oct 2012: 2.0
Sep 2012: 3.3
Aug 2012: 2.3
Jul 2012: 3.0
Jun 2012: 4.5
May 2012: 2.3
Apr 2012: 2.6
Mar 2012: 5.5
Feb 2012: 3.0
Jan 2012: 3.0
Dec 2011: 4.7
Nov 2011: 5.1
Oct 2011: 4.8
Sep 2011: 4.0
Aug 2011: 4.5
Jul 2011: 10.0
Jun 2011: 6.9 months
May 2011: 5.8
Apr 2011: 3.5
Mar 2011: 4.9
Feb 2011: 6.0
Jan 2011: 5.7
Dec 2010: 6.0
Nov 2010: 6.2
Oct 2010: 6.2
Sep 2010: 5.5
Aug 2010: 3.3
Jul 2010: 5.6
Jun 2010: 5.5
May 2010: 8.1
Apr 2010: 6.4
Mar 2010: 3.7
Feb 2010: 9.6
Jan 2010: 6.5
Dec 2009: 6.8
Nov 2009: 7.2
Oct 2009: 6.9
Sep 2009: 3.7
Aug 2009: 4.2
Jul 2009: 6.1
Jun 2009: 7.4

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