Somerville, IN Foreclosures
Current Market Conditions in in Somerville, IN As of February 2026?
In the past month, the Somerville real estate market has shown signs of increased activity. The number of home sales has risen by approximately 15%, suggesting that buyers are becoming more eager to find homes in the area. Additionally, price points have begun to slightly increase as demand outpaces available listings, highlighting a competitive market.
How much do homes sell for in Somerville, IN?
The average home price is currently $137,278.
What’s the average rental cost in Somerville, IN?
The average rental price in Somerville is $841.
What is the most expensive home in Somerville?
The most expensive home sold in Somerville had a price of $283,074.
What is currently the cheapest priced home in Somerville, IN?
The cheapest home for sale in Somerville is priced at $16,830.
Living in Somerville, IN
Somerville, IN is a quaint and charming small town that offers a peaceful lifestyle surrounded by nature. With its friendly community and local amenities, residents enjoy a great quality of life. The area’s lush parks and community activities make it perfect for families and those seeking relaxation.
Buyer vs Seller Market in Somerville, IN
The real estate market in Somerville is currently experiencing a shift, with an increasing demand for homes as more buyers seek affordable housing options. As of late 2023, inventory levels have remained stable, but the number of interested buyers has risen, indicating a potential upward trend in prices as competition increases.
Home values in Somerville have seen a gradual increase over the past year, bolstered by the town's appeal as a tranquil living environment. This trend reflects the ongoing interest in rural areas, as more individuals and families move away from congested urban centers.
Home Value Estimator For Somerville, IN
There are currently 60 real estate properties
in Somerville, IN,
with a median automated valuation model (AVM) price
of $131,640.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Somerville, IN, 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 Somerville, IN,
is $137,278.00, with the most expensive house
in Somerville, IN, topping out
at $283,074.00 and the cheapest home
in Somerville, IN,
clocking in at $16,830.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Somerville, IN!
Rent Prices
In Somerville, IN
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Somerville, IN, is on
a rollercoaster ride. The
average rent price in Somerville, IN,
is $841.00. Indeed, when looking to rent in
Somerville, IN, you can expect to pay as little
as $480.00 or as much
as $1,310.00,
with the average rent median estimated to
be $810.00. The good news is that finding
an affordable and desirable property to rent in Somerville, IN
-- 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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