Real Estate inB Somerset 2010 Results
Even if you aren’t familiar with homes for sale in the Somerset neighborhood in NW Portland, looking at the price point stats below, one can tell that it’s a great area of town for those just starting out and looking for their first home.
- Just about flush with 2009, the sold homes in Somerset occurred primarily in the $350k range and under.
- Sales backed off between $350k and $400 but had a hey day from $400k-$500k.
Check out the rest of Northwest Portland Sold Home Stats for 2010
Somerset Real Estate Market Analyzer:
Throughout 2010, active listings ranged between 85-135 each month
Absorption rates peaked once at 16% sell-through and stayed below the rest of the year
Median prices leveled out the last three months of 2010–staying approximately $130k apart from low to high….this is normal for this neighborhood, not a ton of upper end homes.
Average sales price bounced between $300k-$360k through September but then cut under the $300k mark and didn’t pop back up.
Homes consistently closed -4 to -9% of the most recent list price