Somerset Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Somerset averaged 6.99% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

    The average rate for the prior week (2025-03-27) was 6.8% and one month ago for the week of 2025-02-27, the average rate was 7.21%.

    Somerset's average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-04-03, the average rate was 6.64%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-03 6.64%
    Somerset 30 Year Fixed Rate 2025-04-03 6.99%
    Somerset 30 Year Fixed Rate Refi 2025-04-03 6.64%
    Somerset 15 Year Fixed Rate 2025-04-03 5.62%
    Somerset 15 Year Fixed Rate Refi 2025-04-03 6.42%
    Somerset 30 Year FHA 2025-04-03 6.38%
    Somerset 30 Year FHA Refi 2025-04-03 6.36%
    Somerset 30 Year USDA 2025-04-03 6.22%
    Somerset 30 Year USDA Refi 2025-04-03 6.12%
    Somerset 30 Year VA 2025-04-03 5.86%
    Somerset 30 Year VA Refi 2025-04-03 6.26%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Somerset, KY.

    Somerset Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Somerset, KY market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 34 6.85% $6,412
    L & N Federal Credit Union 17 7.05% $2,134
    BROKER SOLUTIONS, INC. 17 6.71% $6,900
    Community Trust Bank, Inc. 12 6.61% $2,236
    UNITED WHOLESALE MORTGAGE, LLC 12 6.95% $6,304
    Forcht Bank 9 7.08% $3,538
    Fifth Third Bank 6 7.46% $5,004
    U.S. Bank 6 7.10% $3,508
    Northpointe Bank 5 6.89% $6,164
    UNION HOME MORTGAGE CORP. 4 7.53% $4,258
    PNC Bank 4 6.50% $4,731
    21ST MORTGAGE CORPORATION 4 8.36% $5,565
    CROSSCOUNTRY MORTGAGE, LLC 4 7.47% $6,752
    Truist 4 7.14% $4,421
    First Financial Bank 3 6.96% $4,551
    Union Savings Bank 3 7.50% $1,578
    The Huntington National Bank 3 7.08% $9,026
    STOCKTON MORTGAGE CORPORATION 3 7.33% $5,559
    AMERISAVE MORTGAGE CORPORATION 3 6.71% $9,523
    ZILLOW HOME LOANS, LLC 2 7.13% $4,917
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.81% $4,120
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.62% $4,700
    Guardian Savings Bank, A Federal Savings Bank 2 6.88% $1,709
    HOMESIDE FINANCIAL, LLC 2 7.13% $9,666
    JPMorgan Chase Bank 2 7.18% $4,106
    MORTGAGE INVESTORS GROUP, INC. 2 3.50% $4,363
    Mr. Cooper ( Nationstar Mortgage ) 2 6.13% $6,035
    NEWREZ LLC 2 6.99% $5,772
    ROYAL UNITED MORTGAGE LLC 2 7.25% $5,195
    RUOFF MORTGAGE COMPANY, INC. 2 6.75% $2,826
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 8.25% $3,594
    Whitaker Bank 2 6.69% $2,788
    LOANDEPOT.COM, LLC 1 6.99% $5,236
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.88% $7,271
    UNIVERSAL 1 CREDIT UNION 1 6.63% $3,684
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.13% $4,216
    NAVY FEDERAL CREDIT UNION 1 7.75% $7,313
    NBKC BANK 1 5.88% $2,285
    American Mortgage & Equity Consultants, Inc. 1 6.13% $6,623
    North American Savings Bank, F.S.B. 1 6.75% $19,205
    CMG MORTGAGE, INC. 1 6.63% $5,056
    Paramount Residential Mortgage Group, Inc. 1 7.38% $3,938
    PARK COMMUNITY CREDIT UNION, INC. 1 6.88% $3,614
    Peoples Exchange Bank 1 6.63% $6,339
    CHURCHILL MORTGAGE CORPORATION 1 7.50% $4,447
    POLARIS HOME FUNDING CORP. 1 7.38% $9,973
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 6.75% $1,731
    BMI Federal Credit Union 1 7.00% $2,151
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $8,373
    Republic State Mortgage Co. 1 5.88% $5,599
    WRIGHT-PATT CREDIT UNION, INC. 1 5.88% $4,029
    ALLIANT CREDIT UNION 1 6.75% $3,500
    Signature Federal Credit Union 1 5.63% $3,253
    SOUTH CENTRAL BANK, INC. 1 5.00% $1,569
    Bank of England 1 6.88% $4,805
    Stock Yards Bank & Trust Company 1 6.13% $2,275
    T2 FINANCIAL LLC 1 6.50% $3,262
    The Federal Savings Bank 1 6.63% $17,991
    Bank of America 1 6.25% $5,261
    Farm Credit Mid-America, ACA 1 7.13% $6,403
    Flagstar Bank, FSB 1 6.38% $8,564
    Discover Bank 1 8.11% $0
    GENEVA FINANCIAL, LLC 1 6.63% $3,523
    GUARANTEED RATE, INC. 1 7.13% $5,885
    AXIA FINANCIAL, LLC 1 7.25% $8,477
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.63% $5,563
    Armed Forces Bank 1 6.88% $3,901
    KeyBank 1 6.63% $3,538
    DAS Acquisition Company, LLC 1 6.38% $3,524

    Somerset Average Closing Costs & Other Stats

    Somerset, KY's 69 lenders originated 970 loans during 2024. The total origination value was $167,210,000, with an average loan value of $172,381.

    Somerset's average closing costs are $4,579.

    The top Somerset lender as defined by loan originations is QUICKEN LOANS, LLC, with 34 loans originated. Their average total fees are $6,412, which is $4,278 higher than the next largest lender, L & N Federal Credit Union.

    The lowest fee Somerset lenders (with over 10 loans originated) are L & N Federal Credit Union ($2,134), Community Trust Bank, Inc. ($2,236), UNITED WHOLESALE MORTGAGE, LLC ($6,304), QUICKEN LOANS, LLC ($6,412) and BROKER SOLUTIONS, INC. ($6,900).

    The lowest rate Somerset lenders (with over 10 loans originated) are Community Trust Bank, Inc. (6.61%), BROKER SOLUTIONS, INC. (6.71%), QUICKEN LOANS, LLC (6.85%), UNITED WHOLESALE MORTGAGE, LLC (6.95%) and L & N Federal Credit Union (7.05%).

    Somerset, KY Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    QUICKEN LOANS, LLC $11,705,000 $15,215,000 30.0% 9.1%
    The Citizens National Bank of Somerset $14,205,000 $14,120,000 -0.6% 8.4%
    BROKER SOLUTIONS, INC. $2,235,000 $13,320,000 496.0% 8.0%
    Mortgage Research Center, LLC $5,825,000 $9,495,000 63.0% 5.7%
    Community Trust Bank, Inc. $8,255,000 $8,250,000 -0.1% 4.9%
    UNITED WHOLESALE MORTGAGE, LLC $6,835,000 $7,680,000 12.4% 4.6%
    L & N Federal Credit Union $5,895,000 $5,770,000 -2.1% 3.5%
    FREEDOM MORTGAGE CORPORATION $1,480,000 $5,635,000 280.7% 3.4%
    Forcht Bank $4,240,000 $4,175,000 -1.5% 2.5%
    The Monticello Banking Company $4,135,000 $4,145,000 0.2% 2.5%
    Northpointe Bank $2,670,000 $3,640,000 36.3% 2.2%
    PENNYMAC LOAN SERVICES, LLC $935,000 $3,420,000 265.8% 2.0%
    21ST MORTGAGE CORPORATION $1,335,000 $3,040,000 127.7% 1.8%
    VANDERBILT MORTGAGE AND FINANCE, INC. $3,315,000 $2,925,000 -11.8% 1.7%
    AMERISAVE MORTGAGE CORPORATION $1,770,000 $2,395,000 35.3% 1.4%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $1,750,000 $2,290,000 30.9% 1.4%
    SOUTH CENTRAL BANK, INC. $3,545,000 $2,255,000 -36.4% 1.3%
    STOCKTON MORTGAGE CORPORATION $1,995,000 $2,215,000 11.0% 1.3%
    Truist $2,385,000 $1,965,000 -17.6% 1.2%
    Republic State Mortgage Co. $1,700,000 $1,920,000 12.9% 1.1%
    HOMESIDE FINANCIAL, LLC $7,730,000 $1,905,000 -75.4% 1.1%
    PNC Bank $645,000 $1,840,000 185.3% 1.1%
    Fifth Third Bank $1,285,000 $1,675,000 30.4% 1.0%
    Farm Credit Mid-America, ACA $825,000 $1,655,000 100.6% 1.0%
    First Southern National Bank $2,555,000 $1,545,000 -39.5% 0.9%
    The Huntington National Bank $460,000 $1,495,000 225.0% 0.9%
    Cumberland Valley National Bank & Trust Company $3,270,000 $1,450,000 -55.7% 0.9%
    CROSSCOUNTRY MORTGAGE, LLC $435,000 $1,395,000 220.7% 0.8%
    U.S. Bank $1,350,000 $1,295,000 -4.1% 0.8%
    UNION HOME MORTGAGE CORP. $1,265,000 n/a 0.8%
    First Financial Bank $770,000 $1,045,000 35.7% 0.6%
    Mr. Cooper ( Nationstar Mortgage ) $1,670,000 $1,035,000 -38.0% 0.6%
    NAVY FEDERAL CREDIT UNION $2,630,000 $980,000 -62.7% 0.6%
    NEWREZ LLC $270,000 $845,000 213.0% 0.5%
    MUTUAL OF OMAHA MORTGAGE, INC. $225,000 $820,000 264.4% 0.5%
    GENEVA FINANCIAL, LLC $330,000 $805,000 143.9% 0.5%
    LOANDEPOT.COM, LLC $1,640,000 $805,000 -50.9% 0.5%
    Union Savings Bank $935,000 $750,000 -19.8% 0.4%
    CANOPY MORTGAGE, LLC $745,000 n/a 0.4%
    Carrington Mortgage Services, LLC $350,000 $680,000 94.3% 0.4%
    GUARANTEED RATE, INC. $665,000 $675,000 1.5% 0.4%
    Paramount Residential Mortgage Group, Inc. $885,000 $670,000 -24.3% 0.4%
    PROVIDENT FUNDING ASSOCIATES, L.P. $235,000 $660,000 180.9% 0.4%
    Magnolia Bank $680,000 $630,000 -7.4% 0.4%
    NBKC BANK $275,000 $605,000 120.0% 0.4%
    AXIA FINANCIAL, LLC $590,000 n/a 0.4%
    PREMIER LENDING, INC. $570,000 n/a 0.3%
    Century Mortgage Company DBA Century Lending Company $560,000 n/a 0.3%
    UNIVERSITY OF KENTUCKY $605,000 $550,000 -9.1% 0.3%
    North American Savings Bank, F.S.B. $545,000 n/a 0.3%
    NEW DAY FINANCIAL, LLC $1,110,000 $535,000 -51.8% 0.3%
    RELIANCE FIRST CAPITAL, LLC $530,000 n/a 0.3%
    Whitaker Bank $210,000 $525,000 150.0% 0.3%
    ROYAL UNITED MORTGAGE LLC $170,000 $520,000 205.9% 0.3%
    POLARIS HOME FUNDING CORP. $1,300,000 $510,000 -60.8% 0.3%
    T2 FINANCIAL LLC $500,000 n/a 0.3%
    JPMorgan Chase Bank $1,160,000 $480,000 -58.6% 0.3%
    VILLAGE CAPITAL MORTGAGE $480,000 n/a 0.3%
    RUOFF MORTGAGE COMPANY, INC. $735,000 $475,000 -35.4% 0.3%
    Guardian Savings Bank, A Federal Savings Bank $495,000 $470,000 -5.1% 0.3%
    Equity Prime Mortgage LLC $65,000 $455,000 600.0% 0.3%
    LENOX FINANCIAL MORTGAGE CORPORATION $455,000 n/a 0.3%
    CHURCHILL MORTGAGE CORPORATION $265,000 $440,000 66.0% 0.3%
    EVERETT FINANCIAL, INC. $430,000 n/a 0.3%
    GoPrime Mortgage, Inc. $750,000 $420,000 -44.0% 0.3%
    NEXERA HOLDING LLC $415,000 n/a 0.2%
    WRIGHT-PATT CREDIT UNION, INC. $720,000 $410,000 -43.1% 0.2%
    MOVEMENT MORTGAGE, LLC $665,000 $405,000 -39.1% 0.2%
    Signature Bank of Arkansas $405,000 n/a 0.2%
    MORTGAGE INVESTORS GROUP, INC. $145,000 $400,000 175.9% 0.2%
    FCN Bank $505,000 $395,000 -21.8% 0.2%
    Discover Bank $435,000 $385,000 -11.5% 0.2%
    The Federal Savings Bank $385,000 n/a 0.2%
    North Shore Trust and Savings $370,000 n/a 0.2%
    Bank of Lexington, Inc. $85,000 $365,000 329.4% 0.2%
    COMMONWEALTH $1,385,000 $365,000 -73.6% 0.2%
    Greenville Federal $365,000 n/a 0.2%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $360,000 n/a 0.2%
    The Loan Store, Inc. $360,000 n/a 0.2%
    Flagstar Bank, FSB $180,000 $330,000 83.3% 0.2%
    Plains Commerce Bank $175,000 $330,000 88.6% 0.2%
    Armed Forces Bank $315,000 n/a 0.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $315,000 n/a 0.2%
    Heritage Bank, Inc. $315,000 n/a 0.2%
    RAPID MORTGAGE COMPANY $295,000 n/a 0.2%
    PARK COMMUNITY CREDIT UNION, INC. $90,000 $275,000 205.6% 0.2%
    American Mortgage & Equity Consultants, Inc. $265,000 n/a 0.2%
    Stock Yards Bank & Trust Company $260,000 n/a 0.2%
    ALLIANT CREDIT UNION $255,000 n/a 0.2%
    CARDINAL FINANCIAL $470,000 $255,000 -45.7% 0.2%
    CLEARPATH LENDING $255,000 n/a 0.2%
    CMG MORTGAGE, INC. $320,000 $255,000 -20.3% 0.2%
    Charles Schwab Bank, SSB $250,000 n/a 0.1%
    CREDIT HUMAN FEDERAL CREDIT UNION $95,000 $250,000 163.2% 0.1%
    DAS Acquisition Company, LLC $390,000 $245,000 -37.2% 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $105,000 $245,000 133.3% 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $240,000 n/a 0.1%
    DEEPHAVEN MORTGAGE LLC $225,000 n/a 0.1%
    Meade County Bank $225,000 n/a 0.1%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $125,000 $225,000 80.0% 0.1%
    AMERICAN FINANCIAL RESOURCES, INC. $195,000 $215,000 10.3% 0.1%
    MID AMERICA MORTGAGE, INC. $215,000 n/a 0.1%
    City National Bank of West Virginia $605,000 $205,000 -66.1% 0.1%
    ZILLOW HOME LOANS, LLC $760,000 $200,000 -73.7% 0.1%
    Peoples Exchange Bank $195,000 n/a 0.1%
    SUN WEST MORTGAGE COMPANY, INC. $90,000 $185,000 105.6% 0.1%
    Third Federal Savings and Loan Association of Cleveland $185,000 $185,000 0.0% 0.1%
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. $275,000 $175,000 -36.4% 0.1%
    First State Bank of the Southeast, Inc. $175,000 n/a 0.1%
    Beeline Loans, Inc. $165,000 n/a 0.1%
    USAA Federal Savings Bank $490,000 $165,000 -66.3% 0.1%
    Baxter Credit Union $75,000 $155,000 106.7% 0.1%
    CSL Financial, LLC $150,000 n/a 0.1%
    TOP FLITE FINANCIAL, INC. $605,000 $145,000 -76.0% 0.1%
    Bank of America $120,000 $140,000 16.7% 0.1%
    FirstBank $290,000 $120,000 -58.6% 0.1%
    BMI Federal Credit Union $115,000 n/a 0.1%
    First Citizens National Bank $115,000 n/a 0.1%
    Nations Lending Corporation $115,000 n/a 0.1%
    Bank of England $645,000 $105,000 -83.7% 0.1%
    Coastal Community Bank $405,000 $100,000 -75.3% 0.1%
    MEMBERS HERITAGE Credit Union $45,000 $90,000 100.0% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $155,000 $85,000 -45.2% 0.1%
    DELTA COMMUNITY CREDIT UNION $65,000 n/a 0.0%
    Citizens Bank $155,000 $55,000 -64.5% 0.0%
    FINANCE OF AMERICA REVERSE LLC $95,000 $55,000 -42.1% 0.0%
    SPRING EQ, LLC $55,000 n/a 0.0%
    UNIVERSAL 1 CREDIT UNION $55,000 n/a 0.0%
    USAlliance Federal Credit Union $55,000 n/a 0.0%
    Abound Federal Credit Union $320,000 $45,000 -85.9% 0.0%
    American Airlines Federal Credit Union $45,000 n/a 0.0%
    ASHLAND Credit Union $45,000 n/a 0.0%
    KeyBank $45,000 n/a 0.0%
    Signature Federal Credit Union $35,000 n/a 0.0%

    Somerset's top lender by overall market share is QUICKEN LOANS, LLC, with 9.1% market share. In second place, with 8.4%, is The Citizens National Bank of Somerset, having originated $14,120,000 in loans. In third place, with 8.0%, is BROKER SOLUTIONS, INC., having originated $13,320,000 in loans. In fourth place, with 5.7%, is Mortgage Research Center, LLC, having originated $9,495,000 in loans. In fifth place, with 4.9%, is Community Trust Bank, Inc., having originated $8,250,000 in loans.

    Somerset Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Somerset (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $159,900 (0.0%) $207,462 (-0.8%) 0.00 401
    2018-02-01 $159,900 (0.0%) $205,723 (-0.4%) 0.00 413
    2018-03-01 $159,900 (0.0%) $214,127 (2.6%) 0.00 416
    2018-04-01 $168,650 (-0.2%) $212,896 (-1.3%) 0.00 432
    2018-05-01 $169,900 (0.0%) $214,561 (-0.3%) 0.00 439
    2018-06-01 $170,000 (0.6%) $214,704 (1.1%) 0.00 441
    2018-07-01 $175,000 (6.1%) $215,264 (1.9%) 0.00 457
    2018-08-01 $172,225 (3.8%) $210,917 (-0.8%) 0.00 460
    2018-09-01 $175,900 (3.5%) $216,538 (0.7%) 0.00 450
    2018-10-01 $177,600 (4.8%) $217,399 (2.5%) 0.00 431
    2018-11-01 $175,225 (3.1%) $217,836 (2.6%) 0.00 433
    2018-12-01 $175,700 (9.9%) $222,628 (5.9%) 0.00 406
    2019-01-01 $170,600 (6.7%) $217,171 (4.7%) 0.00 387
    2019-02-01 $169,925 (6.3%) $215,848 (4.9%) 0.00 378
    2019-03-01 $169,900 (6.3%) $212,970 (-0.5%) 0.00 385
    2019-04-01 $169,900 (0.7%) $213,819 (0.4%) 0.00 390
    2019-05-01 $169,900 (0.0%) $212,784 (-0.8%) 0.00 395
    2019-06-01 $174,500 (2.7%) $216,373 (0.8%) 0.00 413
    2019-07-01 $179,000 (2.3%) $218,611 (1.6%) 0.00 421
    2019-08-01 $180,609 (4.9%) $221,499 (5.0%) 0.00 393
    2019-09-01 $183,023 (4.1%) $226,319 (4.5%) 0.00 373
    2019-10-01 $185,842 (4.6%) $230,838 (6.2%) 0.00 359
    2019-11-01 $183,900 (5.0%) $228,638 (5.0%) 0.00 346
    2019-12-01 $179,900 (2.4%) $229,158 (2.9%) 0.00 327
    2020-01-01 $179,900 (5.5%) $229,096 (5.5%) 0.00 293
    2020-02-01 $184,900 (8.8%) $239,817 (11.1%) 0.00 304
    2020-03-01 $192,400 (13.2%) $243,654 (14.4%) 0.00 312
    2020-04-01 $199,800 (17.6%) $245,918 (15.0%) 0.00 302
    2020-05-01 $195,000 (14.8%) $240,007 (12.8%) 0.00 271
    2020-06-01 $207,450 (18.9%) $257,377 (19.0%) 0.00 238
    2020-07-01 $199,900 (11.7%) $255,471 (16.9%) 0.00 235
    2020-08-01 $207,350 (14.8%) $263,699 (19.1%) 0.00 224
    2020-09-01 $219,450 (19.9%) $273,534 (20.9%) 0.00 185
    2020-10-01 $214,450 (15.4%) $265,444 (15.0%) 0.00 188
    2020-11-01 $216,125 (17.5%) $273,886 (19.8%) 0.00 168
    2020-12-01 $219,000 (21.7%) $270,396 (18.0%) 0.00 171
    2021-01-01 $199,900 (11.1%) $269,360 (17.6%) 0.00 166
    2021-02-01 $199,225 (7.8%) $277,473 (15.7%) 0.00 146
    2021-03-01 $219,950 (14.3%) $322,166 (32.2%) 0.00 104
    2021-04-01 $247,450 (23.9%) $341,425 (38.8%) 0.00 110
    2021-05-01 $259,900 (33.3%) $343,384 (43.1%) 0.00 119
    2021-06-01 $269,475 (29.9%) $335,492 (30.4%) 0.00 132
    2021-07-01 $279,000 (39.6%) $345,632 (35.3%) 0.00 153
    2021-08-01 $283,750 (36.9%) $351,681 (33.4%) 0.00 166
    2021-09-01 $254,950 (16.2%) $330,496 (20.8%) 0.00 184
    2021-10-01 $268,500 (25.2%) $335,147 (26.3%) 0.00 177
    2021-11-01 $249,400 (15.4%) $324,610 (18.5%) 0.00 177
    2021-12-01 $245,925 (12.3%) $331,871 (22.7%) 0.00 167
    2022-01-01 $249,000 (24.6%) $328,258 (21.9%) 0.00 157
    2022-02-01 $243,950 (22.5%) $289,794 (4.4%) 0.00 132
    2022-03-01 $238,125 (8.3%) $292,850 (-9.1%) 0.00 119
    2022-04-01 $249,900 (1.0%) $302,295 (-11.5%) 0.00 124
    2022-05-01 $244,450 (-5.9%) $313,606 (-8.7%) 0.00 149
    2022-06-01 $266,725 (-1.0%) $323,142 (-3.7%) 0.00 175
    2022-07-01 $277,777 (-0.4%) $334,383 (-3.3%) 0.00 206
    2022-08-01 $290,000 (2.2%) $341,689 (-2.8%) 0.00 231
    2022-09-01 $274,950 (7.8%) $337,804 (2.2%) 0.00 246
    2022-10-01 $274,950 (2.4%) $333,516 (-0.5%) 0.00 232
    2022-11-01 $269,675 (8.1%) $328,438 (1.2%) 0.00 239
    2022-12-01 $270,000 (9.8%) $330,726 (-0.4%) 0.00 200
    2023-01-01 $264,900 (6.4%) $327,542 (-0.2%) 0.00 186
    2023-02-01 $269,925 (10.7%) $331,199 (14.3%) 0.00 173
    2023-03-01 $274,900 (15.4%) $342,394 (16.9%) 0.00 166
    2023-04-01 $283,500 (13.5%) $356,228 (17.8%) 0.00 156
    2023-05-01 $291,950 (19.4%) $351,614 (12.1%) 0.00 161
    2023-06-01 $283,250 (6.2%) $344,093 (6.5%) 0.00 174
    2023-07-01 $285,000 (2.6%) $335,282 (0.3%) 0.00 189
    2023-08-01 $299,675 (3.3%) $341,158 (-0.2%) 0.00 206
    2023-09-01 $299,000 (8.8%) $353,106 (4.5%) 0.00 219
    2023-10-01 $294,675 (7.2%) $358,832 (7.6%) 0.00 222
    2023-11-01 $295,950 (9.7%) $359,502 (9.5%) 0.00 224
    2023-12-01 $309,450 (14.6%) $369,903 (11.9%) 0.00 217
    2024-01-01 $309,900 (17.0%) $372,292 (13.7%) 0.00 225
    2024-02-01 $318,225 (17.9%) $373,241 (12.7%) 0.00 219
    2024-03-01 $315,000 (14.6%) $363,977 (6.3%) 0.00 228
    2024-04-01 $313,725 (10.7%) $354,716 (-0.4%) 0.00 263
    2024-05-01 $313,725 (7.5%) $368,848 (4.9%) 0.00 267
    2024-06-01 $315,000 (11.2%) $370,575 (7.7%) 0.00 265
    2024-07-01 $307,450 (7.9%) $367,810 (9.7%) 0.00 272
    2024-08-01 $309,000 (3.1%) $360,300 (5.6%) 0.00 307
    2024-09-01 $303,950 (1.7%) $354,243 (0.3%) 0.00 315
    2024-10-01 $310,000 (5.2%) $354,801 (-1.1%) 0.00 302
    2024-11-01 $299,900 (1.3%) $355,738 (-1.1%) 0.00 307
    2024-12-01 $298,750 (-3.5%) $358,180 (-3.2%) 0.00 294
    2025-01-01 $299,500 (-3.4%) $364,040 (-2.2%) 0.00 288
    2025-02-01 $303,950 (-4.5%) $369,388 (-1.0%) 0.00 281
    2025-03-01 $314,950 (0.0%) $371,474 (2.1%) 0.00 277
    Somerset's median listing price for 2025-03-01 was $314,950, a difference of $-50 (0.0%) versus the prior year and $11,000 versus the prior month.

    Somerset's median listing price comes in at 0% of the national average.

    Somerset's average listing price for 2025-03-01 was $371,474, a difference of $7,497 (2.1%) versus the prior year and $2,086 versus the prior month.

    For the 2025-03-01 period, Somerset had 277 MLS listings, a difference of -4 listings (-1%) versus the prior month and 49 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Somerset (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,890 sqft
    2018-02-01 0 days 1,936 sqft
    2018-03-01 0 days 1,950 sqft
    2018-04-01 0 days 1,837 sqft
    2018-05-01 0 days 1,822 sqft
    2018-06-01 0 days 1,792 sqft
    2018-07-01 0 days 1,817 sqft
    2018-08-01 0 days 1,842 sqft
    2018-09-01 0 days 1,873 sqft
    2018-10-01 0 days 1,878 sqft
    2018-11-01 0 days 1,921 sqft
    2018-12-01 0 days 1,920 sqft
    2019-01-01 0 days 1,889 sqft
    2019-02-01 0 days 1,858 sqft
    2019-03-01 0 days 1,802 sqft
    2019-04-01 0 days 1,778 sqft
    2019-05-01 0 days 1,888 sqft
    2019-06-01 0 days 1,918 sqft
    2019-07-01 0 days 1,998 sqft
    2019-08-01 0 days 2,000 sqft
    2019-09-01 0 days 2,001 sqft
    2019-10-01 0 days 2,007 sqft
    2019-11-01 0 days 2,006 sqft
    2019-12-01 0 days 1,990 sqft
    2020-01-01 0 days 1,941 sqft
    2020-02-01 0 days 2,000 sqft
    2020-03-01 0 days 1,981 sqft
    2020-04-01 0 days 2,013 sqft
    2020-05-01 0 days 1,929 sqft
    2020-06-01 0 days 2,049 sqft
    2020-07-01 0 days 2,060 sqft
    2020-08-01 0 days 2,100 sqft
    2020-09-01 0 days 2,124 sqft
    2020-10-01 0 days 2,079 sqft
    2020-11-01 0 days 2,106 sqft
    2020-12-01 0 days 2,095 sqft
    2021-01-01 0 days 2,072 sqft
    2021-02-01 0 days 2,002 sqft
    2021-03-01 0 days 2,055 sqft
    2021-04-01 0 days 2,218 sqft
    2021-05-01 0 days 2,081 sqft
    2021-06-01 0 days 2,131 sqft
    2021-07-01 0 days 2,079 sqft
    2021-08-01 0 days 2,129 sqft
    2021-09-01 0 days 2,000 sqft
    2021-10-01 0 days 1,980 sqft
    2021-11-01 0 days 1,902 sqft
    2021-12-01 0 days 1,861 sqft
    2022-01-01 0 days 1,870 sqft
    2022-02-01 0 days 1,834 sqft
    2022-03-01 0 days 1,788 sqft
    2022-04-01 0 days 1,984 sqft
    2022-05-01 0 days 1,833 sqft
    2022-06-01 0 days 1,951 sqft
    2022-07-01 0 days 2,068 sqft
    2022-08-01 0 days 2,084 sqft
    2022-09-01 0 days 2,070 sqft
    2022-10-01 0 days 2,040 sqft
    2022-11-01 0 days 1,990 sqft
    2022-12-01 0 days 1,914 sqft
    2023-01-01 0 days 1,882 sqft
    2023-02-01 0 days 1,796 sqft
    2023-03-01 0 days 1,810 sqft
    2023-04-01 0 days 1,827 sqft
    2023-05-01 0 days 1,987 sqft
    2023-06-01 0 days 1,938 sqft
    2023-07-01 0 days 1,839 sqft
    2023-08-01 0 days 1,859 sqft
    2023-09-01 0 days 1,853 sqft
    2023-10-01 0 days 1,900 sqft
    2023-11-01 0 days 1,886 sqft
    2023-12-01 0 days 1,963 sqft
    2024-01-01 0 days 1,962 sqft
    2024-02-01 0 days 1,966 sqft
    2024-03-01 0 days 1,953 sqft
    2024-04-01 0 days 1,875 sqft
    2024-05-01 0 days 1,948 sqft
    2024-06-01 0 days 1,934 sqft
    2024-07-01 0 days 1,976 sqft
    2024-08-01 0 days 1,964 sqft
    2024-09-01 0 days 1,850 sqft
    2024-10-01 0 days 1,900 sqft
    2024-11-01 0 days 1,888 sqft
    2024-12-01 0 days 1,898 sqft
    2025-01-01 0 days 1,920 sqft
    2025-02-01 0 days 1,917 sqft
    2025-03-01 0 days 1,941 sqft
    Somerset's median listing age (time on market) for 2025-03-01 was 0 days.

    Somerset's median square footage for active listings during the 2025-03-01 period was 1,941 sqft. One year prior, the average listing was 1,953 sqft.

    Somerset, KY Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 556 $109,320,000 $196,619
    Cash Out Refi 136 $21,430,000 $157,574
    Refi 131 $24,895,000 $190,038
    Other 85 $6,545,000 $77,000
    Home Improvement 62 $5,020,000 $80,968

    Somerset's most frequently cited loan purpose was Home Purchase, with 556 originations. The 2nd most popular reason was Cash Out Refi, with 136 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 349 $70,665,000 $202,479
    Over 8% 183 $16,675,000 $91,120
    7-8% 169 $31,725,000 $187,722
    5-6% 106 $24,530,000 $231,415
    3-4% 30 $380,000 $12,667
    4-5% 4 $710,000 $177,500
    <2.5% 1 $195,000 $195,000

    During 2024, Somerset's most frequently originated rate bucket was 6-7%, with 349 originations.

    Loan Sizing (Somerset, KY MSA)

    Loan Size Originations Total Value Average Loan
    $100k-200k 352 $52,280,000 $148,523
    $100,000 or less 294 $15,460,000 $52,585
    $200k-400k 277 $74,005,000 $267,166
    $400k-600k 40 $18,890,000 $472,250
    $600k-1000k 5 $3,455,000 $691,000
    $Over $1MM 2 $3,120,000 $1,560,000

    Somerset's loan sizing saw the bucket of loans from $100k-200k with 352 originations, totaling $52,280,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 372 $83,140,000 $223,495
    60-80% 150 $29,110,000 $194,067
    Under 20% 108 $3,540,000 $32,778
    20-40% 103 $8,765,000 $85,097
    40-60% 62 $10,420,000 $168,065
    Over 100% 21 $3,645,000 $173,571

    Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 372 originations, totaling $83,140,000 in origination value.