Somers Town Home Prices & Values

$616,600 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 9.8% 1-year change
  • 2.4% 1-year forecast

The median home value in Somers Town is $616,600. Somers Town home values have gone up 9.8% over the past year and Zillow predicts they will rise 2.4% within the next year. The median list price per square foot in Somers Town is $253, which is higher than the New York Metro average of $252. The median price of homes currently listed in Somers Town is $650,000 while the median price of homes that sold is $621,625.

Foreclosures will be a factor impacting home values in the next several years. In Somers Town 2.4 homes are foreclosed (per 10,000). This is greater than the New York Metro value of 1.4 and also lower than the national value of 4.3

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 Town is 12.7%, which is higher than the national value of 6.9%. 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 Town homeowners underwater on their mortgage is 7.4%, which is lower than New York Metro at 14.7%.

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Relative ZHVI
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Somers Town Market Overview

Data through Aug 31, 2014
  • $616,600 ZHVI
  • 2.4% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $650,000 Median listing price
  • $621,625 Median sale price
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Somers Town Market Health

Data through Aug 31, 2014
  • 6.4/10 Healthy What's This?  
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    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.

  • No data Average days on Zillow
  • 7.4% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 12.7% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

2.4 homes(Jun 30, 2014) Somers Town
1.4 homes New York Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Town of Bedford $769,500 Goldens Bridge $575,900 Lincolndale $401,500
Yorktown Heights $390,600 Heritage Hills $367,800 Jefferson Valley-Yorktown $351,800
Shenorock $331,000 Carmel $324,700 Mahopac $317,800

Listings & Sales

Data through Aug 31, 2014
  • $253 Median list price / sq ft
  • $264 Median sale price / sq ft
  • 55.4% Listings with price cut
29.6%
Sold below listing
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Somers Town Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$3,639 Somers Town
$2,340 New York Metro
$1,328 United States
  • 2.3 Breakeven horizon What's This?  
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    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
  • No data Rent list price / sq ft
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