Photo: Mr. Matté (if there is an issue with this image, contact me using this image's Commons talk page, my Commons user talk page, or my English Wikipedia user talk page; I'll know about it a lot faster) · CC BY 4.0241 homes sold in Somerset in the last year, at a typical $505K
Almost every sale is a house. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Somerset homes are listed.
Every place Somerset homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Somerset.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
Houses are 98% of Somerset’s sales, at a typical $523K (year to May 2026)
241 homes sold in the year to September 2026.
typical sale · 220 sold in the year to May 2026
- Per square foot
- $333NJ $331
- Days to sell
- 28
- Sold over asking
- 63%
- Listings with a price cut
- 14%
Multi-family (2–4 units): 2 sold, typical $568K
Townhouses: 2 sold, typical $433K
Too few sales in 12 months for reliable figures.
Fewer homes sell than before 2022, at 1.9 times the 2016 price
241 sales in the last year, against 425 in 2021 and a low of 209 in 2025. The typical sale went from $269K in 2016 to $505K.
Source: Redfin Data Center, MLS sales; from June 2026 each month is a 3-month rolling window, its counts divided by 3. Typical price and $/sq ft are the monthly medians, weighted by sales. Redfin stopped publishing towns’ figures by property type after May 2026, so houses and condos are shown for the year to then.
What $500K buys in Somerset
Check a listing against what Somerset homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Somerset are more common than before the pandemic, but two thirds fewer homes come up for sale
We read every month of Somerset’s home sales since 2012 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to September 2026, 241 sales.
If you’re buying in Somerset
- Shop in March. It brings about 34 new listings a month, close to the busiest month, with fewer bidding wars (39% over asking).
- Expect to bid over asking. Buyers paid 102% of the list price on average; 60% paid over.
- You’ll usually have time. Only 33% of homes go under contract within two weeks; the typical one takes 27 days.
Summer brings both the most homes and the most bidding wars
June has the most new listings (about 39 a month), but August is the most competitive: 51% of August sales close over asking. March offers nearly as much choice with fewer homes bid up (39%). January has the least competition (37%).
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and hotter than New Jersey
| Somerset now | 2017–19 | 2021 peak | NJ now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 60% | 25% | 78% | 44% |
| Gone within two weeksShare of homes under contract within 14 days | 33% | 4% | 3% | 30% |
| Price paid vs. askingAverage sale price ÷ list price | 102% | 98.3% | 104% | 100.9% |
| Days to sellMedian days from listing to contract | 27 | 83 | 63 | 46 |
39 homes for sale on a typical day
That’s 1.8 times the 2023 low (22), 64% fewer than in 2017–19 and well under 2015’s 141.
Somerset ranks 85th of 300 busy New Jersey markets for bidding wars
Share of sales over asking in the last year, among towns with 60 or more sales. Somerset is in the middle of the pack.
Source: Redfin Data Center, city figures, January 2012 to September 2026 (MLS sales, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Somerset home costs about $3,424 a month
Price: Somerset’s typical sale, last 12 months. Property tax at Somerset’s 1.9% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Somerset is affordable on local pay is on Cost of living.
Five things worth knowing
New listings in June
The month with the most choice. December has the fewest, about 14.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $505K home, about $9,470 a year.
Taxes vs. neighborsTypical commute
The average one-way trip to work for people who live in Somerset.
Work & commuteCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Franklin Center sells for less a square foot
The busier markets within 25 miles of Somerset, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Somerset | 241 | $505K | $336 | 60% | 27 |
| New Brunswick | 191 | $457K | $328 | 44% | 86 |
| Franklin Center | 95 | $584K | $282 | 39% | 46 |
| Highland Park | 89 | $591K | $351 | 48% | 71 |
| Weston | 77 | $758K | $344 | 52% | 40 |
| East Franklin | 49 | $488K | $333 | 54% | 40 |
| South Bound Brook | 37 | $483K | $409 | 77% | 27 |
Redfin Data Center, October 2025 to September 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Somerset, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Somerset. People who follow the town see it, and so do people comparing Somerset with their own town. No commission, no listing fee.
Questions about buying a home in Somerset
What do homes sell for in Somerset, NJ?
241 homes sold in the year to September 2026 at a typical $505K, $336 a square foot.
Is Somerset a buyer’s or seller’s market?
A seller’s market: 47 homes were for sale in September 2026 and 21 sold, about 2.2 months of supply. Buyers paid 102% of asking on average.
When is the best time to buy in Somerset?
June brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Somerset?
About 1.9% of a home’s value a year. On a $505K home that’s near $9,470.
Where can I see homes for sale in Somerset?
Zillow, Redfin, Realtor.com and Homes.com all carry Somerset’s MLS listings; the search links above open each one filtered to Somerset.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted; from June 2026 each month is a 3-month rolling window, its counts divided by 3). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).