Home Values

Somers Point Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$181,800

  • -6.3% 1-year change
  • -2.5% 1-year forecast

The median home value in Somers Point is $181,800. Somers Point home values have declined -6.3% over the past year and Zillow predicts they will fall -2.5% within the next year. The median list price per square foot in Somers Point is $153, which is higher than the Atlantic City Metro average of $129. The median price of homes currently listed in Somers Point is $229,900 while the median price of homes that sold is $194,559.

Foreclosures will be a factor impacting home values in the next several years. In Somers Point 5.4 homes are foreclosed (per 10,000). This is greater than the Atlantic City Metro value of 3.7 and also greater than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Somers Point is 19.8%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Somers Point homeowners underwater on their mortgage is 18.5%, which is lower than Atlantic City Metro at 25.7%.

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Relative ZHVI
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Somers Point Market Overview

Data through Jan 31, 2015
  • $181,800 ZHVI
  • -2.5% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Jan 31, 2016)
  • $229,900 Median listing price
  • No recent data Median sale price
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Somers Point Market Health

Data through Jan 31, 2015
  • 0.4/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Dec 31, 2014)
  • No data Average days on Zillow
  • 18.5% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 19.8% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

5.4 homes Somers Point
3.7 homes Atlantic City Metro
4 homes United States
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Nearby Cities

Name Median ZHVI
Longport $652,500
Ocean City $479,800
Margate City $421,400
Name Median ZHVI
Upper Township $266,100
Linwood $244,600
Ventnor City $242,700
Name Median ZHVI
Egg Harbor Township $193,200
Northfield $190,100
Pleasantville $98,600

Listings & Sales

Data through Jan 31, 2015
  • $153 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
32.2%
Sold below listing
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Somers Point Rentals

Data through Jan 31, 2015
  • Zillow Rent Index

  • $1,483 Somers Point
    $1,496 Atlantic City Metro
    $1,350 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.2 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • $1.44 Rent list price / sq ft
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