Somerville, IN Foreclosures
How much do homes sell for in Somerville, IN?
The average home price is currently $133,523.
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 $279,281.
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, Indiana is a picturesque small town offering a tight-knit community atmosphere, local amenities, and ample outdoor recreational activities. With a focus on education and community, it provides an ideal setting for families and individuals alike. Residents enjoy the tranquility of small-town life while remaining connected to larger urban conveniences.
Current Market Conditions in Somerville, IN
The current real estate market in Somerville is showing signs of steady growth, with an increasing demand for homes due to its appealing lifestyle and proximity to larger cities. While the inventory remains relatively low, the prices are gradually reflecting the desirability of the area, attracting both first-time homebuyers and investors alike.
Recent trends indicate a balanced market in Somerville, where the average days on the market are decreasing, and properties are being sold at competitive prices. With an influx of new businesses and investment in local infrastructure, the overall economic outlook is positive.
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 $126,392.00. 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 $133,523.00, with the most expensive house
in Somerville, IN, topping out
at $279,281.00 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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