Somerset Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Somerset averaged 7.15% for the week of 2023-09-21, compared to the national average of 7.19% for the same period.

The average rate for the prior week (2023-09-14) was 6.94% and one month ago for the week of 2023-08-17, the average rate was 6.95%.

Somerset's average rate one year ago was 5.78%.

For refis of the same type during the week of 2023-09-21, the average rate was 6.17%.

Loan Type Date Rate
US 30 Year Fixed Rate 2023-09-21 7.19%
Somerset 30 Year Fixed Rate 2023-09-21 7.15%
Somerset 30 Year Fixed Rate Refi 2023-09-21 6.17%
Somerset 15 Year Fixed Rate 2023-09-21 6.44%
Somerset 15 Year Fixed Rate Refi 2023-09-21 6.64%
Somerset 30 Year FHA 2023-09-21 6.67%
Somerset 30 Year FHA Refi 2023-09-21 7.04%
Somerset 30 Year USDA 2023-09-21 7.22%
Somerset 30 Year USDA Refi 2023-09-21 7.12%
Somerset 30 Year VA 2023-09-21 7.01%
Somerset 30 Year VA Refi 2023-09-21 6.92%
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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
The Citizens National Bank of Somerset 109 5.05% $2,358
L & N Federal Credit Union 34 5.17% $2,315
QUICKEN LOANS, LLC 32 5.11% $6,463
Forcht Bank 16 4.50% $2,215
UNITED WHOLESALE MORTGAGE, LLC 16 5.84% $4,576
The Monticello Banking Company 13 4.50% $2,576
Republic State Mortgage Co. 12 4.96% $3,456
Wells Fargo Bank 9 5.38% $4,792
Truist 8 4.99% $3,651
AMERIFIRST FINANCIAL CORPORATION 8 5.00% $4,504
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 5.31% $5,215
Community Trust Bank, Inc. 8 4.67% $2,134
Guardian Savings Bank, A Federal Savings Bank 7 3.98% $1,074
Bank of England 7 4.41% $4,527
AMERISAVE MORTGAGE CORPORATION 7 4.89% $9,587
VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.58% $4,712
HOME POINT FINANCIAL CORPORATION 6 4.48% $4,100
LOANDEPOT.COM, LLC 6 4.54% $4,418
Union Savings Bank 5 3.65% $1,344
Prosperity Home Mortgage, LLC 4 5.75% $4,788
Northpointe Bank 4 5.84% $5,714
AMERICAN MORTGAGE SERVICE COMPANY 4 4.69% $3,479
Stock Yards Bank & Trust Company 3 5.92% $4,334
SOUTH CENTRAL BANK, INC. 3 4.54% $2,961
BROKER SOLUTIONS, INC. 3 4.32% $5,479
Farm Credit Mid-America, ACA 3 4.69% $4,601
The Central Trust Bank 3 4.46% $4,563
COMMONWEALTH 3 4.29% $2,391
Mr. Cooper ( Nationstar Mortgage ) 3 3.83% $7,042
GUARANTEED RATE, INC. 3 5.06% $3,209
HOMESIDE FINANCIAL, LLC 3 6.33% $4,327
CALIBER HOME LOANS, INC. 2 4.81% $4,084
Abound Federal Credit Union 2 4.88% $2,588
U.S. Bank 2 3.63% $4,254
MOVEMENT MORTGAGE, LLC 2 3.62% $3,300
Republic Bank & Trust Company 2 4.69% $3,384
Discover Bank 2 6.24% $0
GENEVA FINANCIAL, LLC 2 4.50% $4,815
Arvest Bank 2 5.25% $4,364
STOCKTON MORTGAGE CORPORATION 2 5.50% $4,159
JPMorgan Chase Bank 2 4.81% $3,294
FREEDOM MORTGAGE CORPORATION 2 5.25% $4,881
Bank of America 2 4.25% $4,594
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.31% $2,747
CARDINAL FINANCIAL 2 4.43% $5,401
RESOURCE FINANCIAL SERVICES, INC. 1 4.00% $3,054
ROYAL UNITED MORTGAGE LLC 1 4.38% $4,528
SouthPoint Bank 1 3.63% $8,214
SOUTHWEST FUNDING, LP 1 4.75% $7,461
SWBC MORTGAGE CORPORATION 1 5.63% $2,895
The Huntington National Bank 1 3.75% $3,628
Traditional Bank, Inc. 1 4.45% $2,135
USAA Federal Savings Bank 1 6.25% $3,746
21ST MORTGAGE CORPORATION 1 8.80% $3,403
Wyndham Capital Mortgage, Inc. 1 6.63% $5,238
AgFirst Farm Credit Bank 1 3.00% $5,059
ALLIANT CREDIT UNION 1 5.25% $4,130
Ally Bank 1 5.38% $2,387
AMERICAN FINANCING CORPORATION 1 4.50% $5,393
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.88% $3,166
ASCEND FEDERAL CREDIT UNION 1 3.50% $3,234
BAYSHORE MORTGAGE FUNDING, LLC 1 4.63% $6,601
BETTER MORTGAGE CORPORATION 1 5.38% $4,707
Carrington Mortgage Services, LLC 1 5.25% $6,525
Central Bank 1 5.50% $2,186
CHURCHILL MORTGAGE CORPORATION 1 7.13% $3,460
Commercial Bank 1 2.74% $0
CROSSCOUNTRY MORTGAGE, LLC 1 5.38% $3,429
ENVOY MORTGAGE, LTD 1 5.50% $4,682
Equity Prime Mortgage LLC 1 4.13% $2,724
EVERETT FINANCIAL, INC. 1 7.50% $2,187
Fifth Third Bank 1 5.38% $9,438
FINANCE OF AMERICA MORTGAGE LLC 1 5.25% $4,531
FirstBank 1 6.49% $3,423
First Farmers Bank and Trust Company 1 5.88% $2,607
First Option Mortgage, LLC 1 5.00% $3,135
GENERAL ELECTRIC CREDIT UNION 1 2.50% $2,558
GoPrime Mortgage, Inc. 1 5.99% $5,385
HOMESTEAD FUNDING CORP. 1 4.13% $8,198
Hometown Lenders, Inc. 1 4.25% $2,985
Leaders Credit Union 1 4.25% $2,900
MICHIGAN MUTUAL, INC. 1 3.50% $3,164
Mortgage Research Center, LLC 1 5.75% $1,541
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $3,124
MYCUMORTGAGE, LLC 1 7.38% $2,882
NAVY FEDERAL CREDIT UNION 1 4.00% $2,066
NEWREZ LLC 1 7.63% $3,682
OPTION FINANCIAL, LLC 1 3.38% $2,379
PENNYMAC LOAN SERVICES, LLC 1 5.50% $6,688
PHH Mortgage Corporation 1 4.25% $3,100
Plains Commerce Bank 1 6.25% $6,183
PLANET HOME LENDING, LLC 1 3.25% $1,250
PNC Bank 1 4.25% $2,596
POLARIS HOME FUNDING CORP. 1 6.63% $4,456
PREMIA MORTGAGE, LLC 1 3.88% $1,364
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.50% $4,770
Regions Bank 1 5.25% $3,182
RELIANCE FIRST CAPITAL, LLC 1 3.13% $10,853
RESIDENTIAL BANCORP 1 3.88% $4,318

Somerset Average Closing Costs & Other Stats

Somerset, KY's 99 lenders originated 1,269 loans during 2022. The total origination value was $217,645,000, with an average loan value of $171,509.

Somerset's average closing costs are $4,092.

The top Somerset lender as defined by loan originations is The Citizens National Bank of Somerset, with 109 loans originated. Their average total fees are $2,358, which is $43 higher than the next largest lender, L & N Federal Credit Union.

The lowest fee Somerset lenders (with over 10 loans originated) are Forcht Bank ($2,215), L & N Federal Credit Union ($2,315), The Citizens National Bank of Somerset ($2,358), The Monticello Banking Company ($2,576) and Republic State Mortgage Co. ($3,456).

The lowest rate Somerset lenders (with over 10 loans originated) are The Monticello Banking Company (4.50%), Forcht Bank (4.50%), Republic State Mortgage Co. (4.96%), The Citizens National Bank of Somerset (5.05%) and QUICKEN LOANS, LLC (5.11%).

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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
The Citizens National Bank of Somerset $43,910,000 $35,425,000 -19.3% 16.3%
QUICKEN LOANS, LLC $29,240,000 $16,410,000 -43.9% 7.5%
L & N Federal Credit Union $13,365,000 $8,620,000 -35.5% 4.0%
The Monticello Banking Company $10,640,000 $7,835,000 -26.4% 3.6%
UNITED WHOLESALE MORTGAGE, LLC $4,775,000 $7,635,000 59.9% 3.5%
Mortgage Research Center, LLC $7,475,000 $7,625,000 2.0% 3.5%
Republic State Mortgage Co. $12,060,000 $6,410,000 -46.8% 2.9%
Forcht Bank $7,975,000 $6,070,000 -23.9% 2.8%
Community Trust Bank, Inc. $11,260,000 $5,460,000 -51.5% 2.5%
AMERIFIRST FINANCIAL CORPORATION $4,975,000 $5,280,000 6.1% 2.4%
SOUTH CENTRAL BANK, INC. $4,425,000 $4,460,000 0.8% 2.0%
First Southern National Bank $2,470,000 $4,130,000 67.2% 1.9%
United Cumberland Bank $350,000 $4,065,000 1,061.4% 1.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $2,535,000 $3,825,000 50.9% 1.8%
Truist $4,985,000 $3,525,000 -29.3% 1.6%
VANDERBILT MORTGAGE AND FINANCE, INC. $2,095,000 $3,475,000 65.9% 1.6%
HOME POINT FINANCIAL CORPORATION $2,255,000 $3,125,000 38.6% 1.4%
PENNYMAC LOAN SERVICES, LLC $3,450,000 $3,095,000 -10.3% 1.4%
Bank of England $2,005,000 $2,965,000 47.9% 1.4%
Citizens Commerce Bank $185,000 $2,605,000 1,308.1% 1.2%
AMERISAVE MORTGAGE CORPORATION $2,860,000 $2,275,000 -20.5% 1.0%
STOCKTON MORTGAGE CORPORATION $5,095,000 $2,245,000 -55.9% 1.0%
FREEDOM MORTGAGE CORPORATION $9,165,000 $2,230,000 -75.7% 1.0%
Guardian Savings Bank, A Federal Savings Bank $1,820,000 $2,165,000 19.0% 1.0%
Wells Fargo Bank $2,845,000 $1,890,000 -33.6% 0.9%
HOMESIDE FINANCIAL, LLC $470,000 $1,875,000 298.9% 0.9%
Cumberland Valley National Bank & Trust Company $2,660,000 $1,785,000 -32.9% 0.8%
COMMONWEALTH $910,000 $1,765,000 94.0% 0.8%
AMERICAN MORTGAGE SERVICE COMPANY $415,000 $1,690,000 307.2% 0.8%
Farm Credit Mid-America, ACA $2,460,000 $1,550,000 -37.0% 0.7%
POLARIS HOME FUNDING CORP. $2,065,000 $1,490,000 -27.8% 0.7%
Union Savings Bank $565,000 $1,455,000 157.5% 0.7%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $5,570,000 $1,440,000 -74.1% 0.7%
First Option Mortgage, LLC $5,690,000 $1,435,000 -74.8% 0.7%
21ST MORTGAGE CORPORATION $1,715,000 $1,425,000 -16.9% 0.7%
MUTUAL OF OMAHA MORTGAGE, INC. $995,000 $1,385,000 39.2% 0.6%
Mr. Cooper ( Nationstar Mortgage ) $1,705,000 $1,375,000 -19.4% 0.6%
LOANDEPOT.COM, LLC $2,460,000 $1,265,000 -48.6% 0.6%
USAA Federal Savings Bank $2,085,000 $1,255,000 -39.8% 0.6%
NEW DAY FINANCIAL, LLC $3,485,000 $1,240,000 -64.4% 0.6%
Abound Federal Credit Union $35,000 $1,055,000 2,914.3% 0.5%
U.S. Bank $3,610,000 $1,050,000 -70.9% 0.5%
The Huntington National Bank $825,000 $935,000 13.3% 0.4%
Equity Prime Mortgage LLC $905,000 n/a 0.4%
SOUTHPOINT FINANCIAL SERVICES, INC. $250,000 $905,000 262.0% 0.4%
Northpointe Bank $415,000 $885,000 113.3% 0.4%
GUARANTEED RATE, INC. $440,000 $875,000 98.9% 0.4%
NEWREZ LLC $945,000 $875,000 -7.4% 0.4%
ENVOY MORTGAGE, LTD $885,000 $870,000 -1.7% 0.4%
Prosperity Home Mortgage, LLC $790,000 n/a 0.4%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $165,000 $765,000 363.6% 0.4%
NAVY FEDERAL CREDIT UNION $2,295,000 $765,000 -66.7% 0.4%
UNIVERSITY OF KENTUCKY $620,000 $715,000 15.3% 0.3%
BETTER MORTGAGE CORPORATION $670,000 $680,000 1.5% 0.3%
Century Mortgage Company DBA Century Lending Company $650,000 n/a 0.3%
BROKER SOLUTIONS, INC. $1,470,000 $595,000 -59.5% 0.3%
GENEVA FINANCIAL, LLC $730,000 $595,000 -18.5% 0.3%
Stock Yards Bank & Trust Company $715,000 $585,000 -18.2% 0.3%
SUCCESS MORTGAGE PARTNERS, INC. $585,000 n/a 0.3%
CALIBER HOME LOANS, INC. $1,190,000 $580,000 -51.3% 0.3%
EVERETT FINANCIAL, INC. $510,000 $565,000 10.8% 0.3%
MORTGAGE SOLUTIONS OF COLORADO, LLC $560,000 n/a 0.3%
Carrington Mortgage Services, LLC $210,000 $545,000 159.5% 0.3%
Fifth Third Bank $2,830,000 $545,000 -80.7% 0.3%
HOMESTAR FINANCIAL CORPORATION $95,000 $545,000 473.7% 0.3%
Limestone Bank, Inc. $535,000 n/a 0.2%
SouthPoint Bank $535,000 n/a 0.2%
The Central Trust Bank $525,000 n/a 0.2%
Republic Bank & Trust Company $165,000 $520,000 215.2% 0.2%
JPMorgan Chase Bank $1,885,000 $515,000 -72.7% 0.2%
OPTION FINANCIAL, LLC $510,000 n/a 0.2%
Bank of Lexington, Inc. $495,000 n/a 0.2%
GSF Mortgage Corporation $495,000 n/a 0.2%
Bank of America $680,000 $475,000 -30.1% 0.2%
PNC Bank $1,195,000 $470,000 -60.7% 0.2%
Plains Commerce Bank $450,000 n/a 0.2%
CHURCHILL MORTGAGE CORPORATION $145,000 $445,000 206.9% 0.2%
CROSSCOUNTRY MORTGAGE, LLC $445,000 n/a 0.2%
RELIANCE FIRST CAPITAL, LLC $75,000 $435,000 480.0% 0.2%
First Federal Bank of Kansas City $425,000 n/a 0.2%
Commercial Bank $75,000 $405,000 440.0% 0.2%
GMFS LLC $395,000 n/a 0.2%
MAX Credit Union $395,000 n/a 0.2%
Barrington Bank & Trust Company, N.A. $665,000 $390,000 -41.4% 0.2%
MORTGAGE SUPPLIERS, INC. $1,335,000 $370,000 -72.3% 0.2%
AMERICAN ADVISORS GROUP $365,000 n/a 0.2%
PLAZA HOME MORTGAGE, INC. $365,000 n/a 0.2%
MOVEMENT MORTGAGE, LLC $585,000 $360,000 -38.5% 0.2%
Third Federal Savings and Loan Association of Cleveland $360,000 n/a 0.2%
NFM, INC. $350,000 n/a 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $685,000 $345,000 -49.6% 0.2%
DAS Acquisition Company, LLC $755,000 $345,000 -54.3% 0.2%
RESOURCE FINANCIAL SERVICES, INC. $335,000 n/a 0.2%
HOMESTEAD FUNDING CORP. $325,000 n/a 0.1%
ALLIANT CREDIT UNION $315,000 n/a 0.1%
Leaders Credit Union $305,000 n/a 0.1%
RAPID MORTGAGE COMPANY $305,000 n/a 0.1%
Discover Bank $295,000 n/a 0.1%
PREMIA MORTGAGE, LLC $295,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $340,000 $290,000 -14.7% 0.1%
Nations Lending Corporation $465,000 $290,000 -37.6% 0.1%
Flagstar Bank, FSB $1,155,000 $285,000 -75.3% 0.1%
FirstBank $275,000 n/a 0.1%
REVERSE MORTGAGE FUNDING LLC $265,000 n/a 0.1%
PLANET HOME LENDING, LLC $1,390,000 $250,000 -82.0% 0.1%
Hometown Lenders, Inc. $740,000 $245,000 -66.9% 0.1%
SWBC MORTGAGE CORPORATION $55,000 $245,000 345.5% 0.1%
Arvest Bank $265,000 $240,000 -9.4% 0.1%
CSL Financial, LLC $240,000 n/a 0.1%
ASCEND FEDERAL CREDIT UNION $235,000 n/a 0.1%
PRIMARY RESIDENTIAL MORTGAGE, INC. $520,000 $235,000 -54.8% 0.1%
The Federal Savings Bank $300,000 $235,000 -21.7% 0.1%
PROVIDENT FUNDING ASSOCIATES, L.P. $225,000 n/a 0.1%
Regions Bank $105,000 $220,000 109.5% 0.1%
First Farmers Bank and Trust Company $215,000 n/a 0.1%
AgFirst Farm Credit Bank $205,000 n/a 0.1%
The Farmers Bank of Milton $205,000 n/a 0.1%
Low VA Rates, LLC $155,000 $195,000 25.8% 0.1%
Traditional Bank, Inc. $195,000 n/a 0.1%
Central Bank & Trust Company $675,000 $185,000 -72.6% 0.1%
GUARANTEED RATE AFFINITY, LLC $175,000 $185,000 5.7% 0.1%
NATIONWIDE MORTGAGE BANKERS, INC. $185,000 n/a 0.1%
Wyndham Capital Mortgage, Inc. $255,000 $185,000 -27.5% 0.1%
BAYSHORE MORTGAGE FUNDING, LLC $185,000 $175,000 -5.4% 0.1%
MICHIGAN MUTUAL, INC. $85,000 $175,000 105.9% 0.1%
Wilson & Muir Bank & Trust Company $175,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $800,000 $170,000 -78.8% 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $205,000 $165,000 -19.5% 0.1%
Magnolia Bank $1,150,000 $165,000 -85.7% 0.1%
MYCUMORTGAGE, LLC $165,000 n/a 0.1%
NETWORK CAPITAL FUNDING CORPORATION $165,000 n/a 0.1%
KeyBank $160,000 n/a 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $455,000 $155,000 -65.9% 0.1%
GENERAL ELECTRIC CREDIT UNION $155,000 n/a 0.1%
RESIDENTIAL BANCORP. $155,000 n/a 0.1%
GoPrime Mortgage, Inc. $465,000 $145,000 -68.8% 0.1%
Paramount Residential Mortgage Group, Inc. $405,000 $145,000 -64.2% 0.1%
PARK COMMUNITY CREDIT UNION, INC. $275,000 $145,000 -47.3% 0.1%
ROSS MORTGAGE CORPORATION $525,000 $145,000 -72.4% 0.1%
FINANCE OF AMERICA MORTGAGE LLC $95,000 $135,000 42.1% 0.1%
Citizens Bank $570,000 $130,000 -77.2% 0.1%
LONGBRIDGE FINANCIAL, LLC $125,000 n/a 0.1%
Ally Bank $95,000 $115,000 21.1% 0.1%
PHH Mortgage Corporation $105,000 n/a 0.0%
Sierra Pacific Mortgage Company, Inc. $520,000 $105,000 -79.8% 0.0%
WRIGHT-PATT CREDIT UNION, INC. $200,000 $105,000 -47.5% 0.0%
PRIMELENDING, A PLAINSCAPITAL COMPANY $905,000 $95,000 -89.5% 0.0%
SOUTHWEST FUNDING, LP $95,000 n/a 0.0%
CREDIT HUMAN FEDERAL CREDIT UNION $540,000 $85,000 -84.3% 0.0%
DEEPHAVEN MORTGAGE LLC $85,000 n/a 0.0%
NUMARK CREDIT UNION $55,000 $85,000 54.5% 0.0%
TRIAD FINANCIAL SERVICES, INC. $35,000 $75,000 114.3% 0.0%
DIGITAL Federal Credit Union $45,000 n/a 0.0%
EVANSVILLE TEACHERS $325,000 $45,000 -86.2% 0.0%

Somerset's top lender by overall market share is The Citizens National Bank of Somerset, with 16.3% market share. In second place, with 7.5%, is QUICKEN LOANS, LLC, having originated $16,410,000 in loans. In third place, with 4.0%, is L & N Federal Credit Union, having originated $8,620,000 in loans. In fourth place, with 3.6%, is The Monticello Banking Company, having originated $7,835,000 in loans. In fifth place, with 3.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $7,635,000 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 $294,450 (20.5%) $352,910 (12.5%) 0.00 162
2023-06-01 $283,375 (6.2%) $345,352 (6.9%) 0.00 175
2023-07-01 $285,000 (2.6%) $336,513 (0.6%) 0.00 190
2023-08-01 $299,900 (3.4%) $342,241 (0.2%) 0.00 207
Somerset's median listing price for 2023-08-01 was $299,900, a difference of $9,900 (3.4%) versus the prior year and $14,900 versus the prior month.

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

Somerset's average listing price for 2023-08-01 was $342,241, a difference of $552 (0.2%) versus the prior year and $5,728 versus the prior month.

For the 2023-08-01 period, Somerset had 207 MLS listings, a difference of 17 listings (9%) versus the prior month and -24 listings (-10%) 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 1,871 sqft
2018-02-01 0 days 1,937 sqft
2018-03-01 0 days 1,960 sqft
2018-04-01 0 days 1,910 sqft
2018-05-01 0 days 1,872 sqft
2018-06-01 0 days 1,800 sqft
2018-07-01 0 days 1,823 sqft
2018-08-01 0 days 1,843 sqft
2018-09-01 0 days 1,879 sqft
2018-10-01 0 days 1,895 sqft
2018-11-01 0 days 1,964 sqft
2018-12-01 0 days 1,922 sqft
2019-01-01 0 days 1,836 sqft
2019-02-01 0 days 1,799 sqft
2019-03-01 0 days 1,763 sqft
2019-04-01 0 days 1,786 sqft
2019-05-01 0 days 1,890 sqft
2019-06-01 0 days 1,899 sqft
2019-07-01 0 days 1,984 sqft
2019-08-01 0 days 2,000 sqft
2019-09-01 0 days 2,000 sqft
2019-10-01 0 days 2,007 sqft
2019-11-01 0 days 2,006 sqft
2019-12-01 0 days 1,981 sqft
2020-01-01 0 days 1,934 sqft
2020-02-01 0 days 2,000 sqft
2020-03-01 0 days 1,983 sqft
2020-04-01 0 days 2,020 sqft
2020-05-01 0 days 1,944 sqft
2020-06-01 0 days 2,063 sqft
2020-07-01 0 days 2,064 sqft
2020-08-01 0 days 2,100 sqft
2020-09-01 0 days 2,119 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 2,057 sqft
2021-04-01 0 days 2,218 sqft
2021-05-01 0 days 2,081 sqft
2021-06-01 0 days 2,139 sqft
2021-07-01 0 days 2,100 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 1,901 sqft
2021-12-01 0 days 1,861 sqft
2022-01-01 0 days 1,870 sqft
2022-02-01 0 days 1,838 sqft
2022-03-01 0 days 1,788 sqft
2022-04-01 0 days 1,988 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 2,075 sqft
2022-09-01 0 days 2,063 sqft
2022-10-01 0 days 2,038 sqft
2022-11-01 0 days 1,985 sqft
2022-12-01 0 days 1,907 sqft
2023-01-01 0 days 1,872 sqft
2023-02-01 0 days 1,794 sqft
2023-03-01 0 days 1,805 sqft
2023-04-01 0 days 1,820 sqft
2023-05-01 0 days 1,987 sqft
2023-06-01 0 days 1,938 sqft
2023-07-01 0 days 1,840 sqft
2023-08-01 0 days 1,864 sqft
Somerset's median listing age (time on market) for 2023-08-01 was 0 days.

Somerset's median square footage for active listings during the 2023-08-01 period was 1,864 sqft. One year prior, the average listing was 2,075 sqft.

Somerset, KY Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 730 $143,170,000 $196,123
Refi 225 $33,005,000 $146,689
Cash Out Refi 183 $29,985,000 $163,852
Home Improvement 71 $5,585,000 $78,662
Other 60 $5,900,000 $98,333

Somerset's most frequently cited loan purpose was Home Purchase, with 730 originations. The 2nd most popular reason was Refi, with 225 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 343 $61,255,000 $178,586
4-5% 333 $56,535,000 $169,775
3-4% 224 $40,910,000 $182,634
6-7% 169 $25,265,000 $149,497
7-8% 67 $9,185,000 $137,090
Over 8% 46 $3,850,000 $83,696
2.5-3% 46 $8,840,000 $192,174
<2.5% 10 $2,080,000 $208,000

During 2022, Somerset's most frequently originated rate bucket was 5-6%, with 343 originations.

Loan Sizing (Somerset, KY MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 523 $76,315,000 $145,918
$100,000 or less 360 $21,970,000 $61,028
$200k-400k 329 $87,295,000 $265,334
$400k-600k 41 $19,105,000 $465,976
$600k-1000k 13 $9,085,000 $698,846
$Over $1MM 3 $3,875,000 $1,291,667

Somerset's loan sizing saw the bucket of loans from $100k-200k with 523 originations, totaling $76,315,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 533 $107,535,000 $201,754
60-80% 307 $57,155,000 $186,173
40-60% 148 $21,930,000 $148,176
20-40% 144 $11,060,000 $76,806
Under 20% 75 $3,085,000 $41,133
Over 100% 21 $5,125,000 $244,048

Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 533 originations, totaling $107,535,000 in origination value.