Somerset, KY Foreclosures
How much do homes sell for in Somerset, KY?
The average home price is currently $233,379.
In Somerset, KY, how many homes are available?
There are currently 17 active home listings available in Somerset.
What’s the average rental cost in Somerset, KY?
The average rental price in Somerset is $1,040.
What is the most expensive home in Somerset?
The most expensive home sold in Somerset had a price of $7,039,573.
What is currently the cheapest priced home in Somerset, KY?
The cheapest home for sale in Somerset is priced at $10,071.
Living in Somerset, KY
Somerset, KY, is a charming city known for its welcoming community and beautiful outdoor scenery, particularly surrounding Lake Cumberland. With a mix of local shops, dining options, and outdoor activities, Somerset is the perfect place for families and individuals seeking both a peaceful lifestyle and recreational fun.
Current Market Conditions in Somerset, KY
The real estate market in Somerset, KY, has shown a steady increase in demand over the past few years, primarily due to its attractive lifestyle and proximity to natural attractions like Lake Cumberland. Houses are available in various price ranges, making it accessible for first-time buyers and investors. The market has seen a stable growth rate, with new listings appearing regularly, which indicates a balanced market suitable for both buyers and sellers.
Compared to larger urban areas, Somerset offers more affordable housing options while maintaining quality amenities. The demand for homes remains high as families migrate to the area for its excellent school district and low cost of living, contributing to a competitive market.
Home Value Estimator For Somerset, KY
There are currently 15,632 real estate properties
in Somerset, KY,
with a median automated valuation model (AVM) price
of $197,016.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Somerset, KY, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Somerset, KY,
is $233,379.00, with the most expensive house
in Somerset, KY, topping out
at $7,039,573.00 and the cheapest home
in Somerset, KY,
clocking in at $10,071.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Somerset, KY!
Rent Prices
In Somerset, KY
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Somerset, KY, is on
a rollercoaster ride. The
average rent price in Somerset, KY,
is $1,040.00. Indeed, when looking to rent in
Somerset, KY, you can expect to pay as little
as $390.00 or as much
as $2,220.00,
with the average rent median estimated to
be $1,020.00. The good news is that finding
an affordable and desirable property to rent in Somerset, KY
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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