Somerset County, NJ Home Values & Market Trends
The median home price in Somerset County, NJ is $575,317.56. There were 3,785 home sales in Somerset County, NJ over the past 12 months. The median residential Somerset County, NJ home value for transactions over the previous year is $523,273.959. The number of current listings in Somerset County, NJ is 315, and the percentage of properties for sale is 315.00%. The county has 738 foreclosures, 14 bank owned properties, 46 headed for auction, and 315 properties for sale.
Somerset County, NJ Real Estate Market Overview
| City | Median Est. Value | City | Median Est. Value |
|---|---|---|---|
| Somerset | $ 494,550 $ 274/sqft | Watchung | $ 744,950 $ 347/sqft |
| Hillsborough | $ 513,300 $ 310/sqft | South Bound Brook | $ 474,900 $ 226/sqft |
| Bridgewater | $ 598,600 $ 302/sqft | Bound Brook | $ 453,100 $ 333/sqft |
| Basking Ridge | $ 1,000,900 $ 350/sqft | Far Hills | $ 1,129,350 $ 324/sqft |
| Warren | $ 1,007,000 $ 321/sqft | Raritan | $ 541,500 $ 345/sqft |
| Manville | $ 390,050 $ 322/sqft | Martinsville | $ 1,145,000 $ 379/sqft |
| Franklin Park | $ 373,400 $ 261/sqft | Flagtown | $ 338,800 $ 499/sqft |
| Bedminster | $ 521,000 $ 357/sqft | Neshanic Station | $ 595,200 $ 242/sqft |
| Bernardsville | $ 896,200 $ 360/sqft | Gladstone | $ 1,133,000 $ 366/sqft |
| Somerville | $ 523,150 $ 318/sqft | Kingston | $ -- $ -- |
| Belle Mead | $ 1,132,000 $ 350/sqft | Rocky Hill | $ -- $ -- |
| Skillman | $ 946,100 $ 335/sqft |
Housing Market Summary for Somerset County, NJ
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $549.9K | $521.9K | -5.09% |
| Median Sold Price | $460.4K | $521.9K | 13.35% |
| Homes For Sale | 367 | 312 | -14.99% |
| Homes Sold | 2,150 | 1,900 | -11.63% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Somerset County, NJ
Browse Homes in Somerset County, NJ
Somerset County, NJ home values range from $194,100 to $1,576,000. Martinsville is the priciest city with a median listing home price of $1,300,000, and Flagtown is most affordable with average house prices of around $329,000.
- Pre-ForeclosurePre-foreclosure homes account for 0.65% of all residential properties in Somerset County, NJ with Somerset containing 177 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There are 23 cities within Somerset County, NJ; of those cities, the estimated home value for pre-foreclosure homes ranges from $1,271,000 in Far Hills to the lowest home value of $195,700 in Basking Ridge.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Somerset County, NJ ranges from the highest value of $1,506,000 in Basking Ridge to the lowest value of $263,100 in Bridgewater. Bank owned homes and properties account for 0.01% of properties in Somerset County, NJ. There are 23 cities within Somerset County, NJ; Warren containing 4 REO properties, has the highest number of bank owned properties in a single city.
- AuctionsSomerville has 6 auction properties, the highest number of properties going to auction in a single city in the state of Somerset County, NJ. Auction homes and other auction properties account for 0.04% of all properties in Somerset County, NJ. There are 23 cities within Somerset County, NJ; of those cities, the median estimated home value for homes going to auction ranges from $1,052,000 in Martinsville to the lowest value of $194,200 in Martinsville.
Compare Nearby Cities
More Real Estate Resources for Somerset County, NJ
Guide for Somerset County, NJ
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