Somers, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Somers Neighborhoods Since 2000




Somers, NY Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Somers Housing Market Information

With 7,107 people, 1,808 houses or apartments, and a median cost of homes of $450,331, real estate costs in Somers are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New York communities.

Row houses and other attached homes are the single most common housing type in Somers, accounting for 59.72% of the town's housing units. Other types of housing that are prevalent in Somers include single-family detached homes ( 32.44%), duplexes, homes converted to apartments or other small apartment buildings ( 6.69%), and a few large apartment complexes or high rise apartments ( 1.14%). Towns that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of towns are often walkable and compact, and often have a lively downtown.

Dwellings in Somers tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 55.79% of the homes in Somers have two or fewer bedrooms.

There is a lot of housing in Somers built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Somers built between 1940-1969 ( 8.87%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.33%). There's also some housing in Somers built before 1939 ( 6.20%).

Somers Home Appreciation Rates

Somers's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Somers during the period has been just -2.05%, which is lower than 80% of US communities.

Over the last year, Somers appreciation rates have trailed the rest of the nation. In the last twelve months, Somers's appreciation rate has been 1.35%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Somers were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Somers's latest annual appreciation rate is lower than 60% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$450,331

Somers, NY HOME PRICES

Value Range
> $1,033,000 2.7
$775,001 - $1,033,000 4.9
$516,001 - $775,000 29.3
$413,001 - $516,000 23.2
$310,001 - $413,000 26.2
$207,001 - $310,000 6.9
$103,001 - $207,000 1.1
$52,001 - $103,000 0.4
$0 - $52,000 5.4

High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
7.39482011016055 20.4264870931538

Number Of Homes And Apartments:
1,808

Somers Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
33.09% 1.67% 2 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,773 / per month

Homeownership Rate

Homeownership
Owners 86.28
Renters 13.72
Vacant 7.37

Housing Market Details

 

Age of Homes

AGE OF Somers HOMES
2000 or Newer 8.3
1970 - 1999 76.6
1940 - 1969 8.9
1939 or Older 6.2

Types of Homes

TYPE OF Somers HOMES
Single-Family 32.4
Townhomes 59.7
Small Apt. Buildings 6.7
Apt. Complexes 1.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Somers HOMES
No Bedroom 0.00
1 Bedroom 9.44
2 Bedrooms 46.36
3 Bedrooms 28.04
4 Bedrooms 13.80
5 or more bedrooms 2.36