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 6.9% 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 6.51% and one month ago for the week of 2025-02-27, the average rate was 6.92%.

    Somerset's average rate one year ago was 6.75%.

    For refis of the same type during the week of 2025-04-03, the average rate was 7.24%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-03 6.64%
    Somerset 30 Year Fixed Rate 2025-04-03 6.9%
    Somerset 30 Year Fixed Rate Refi 2025-04-03 7.24%
    Somerset 15 Year Fixed Rate 2025-04-03 5.62%
    Somerset 15 Year Fixed Rate Refi 2025-04-03 6.22%
    Somerset 30 Year FHA 2025-04-03 6.16%
    Somerset 30 Year FHA Refi 2025-04-03 6.16%
    Somerset 30 Year USDA 2025-04-03 6.22%
    Somerset 30 Year USDA Refi 2025-04-03 6.52%
    Somerset 30 Year VA 2025-04-03 6.16%
    Somerset 30 Year VA Refi 2025-04-03 5.86%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Somerset, PA.

    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, PA 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
    First National Bank of Pennsylvania 39 6.72% $4,497
    SOMERSET TRUST COMPANY 32 6.66% $3,980
    PRIMELENDING, A PLAINSCAPITAL COMPANY 27 6.73% $5,803
    FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION 23 6.09% $4,554
    QUICKEN LOANS, LLC 20 6.91% $6,920
    First Commonwealth Bank 20 6.65% $4,420
    PNC Bank 10 6.34% $4,912
    UNITED WHOLESALE MORTGAGE, LLC 10 6.77% $7,528
    1st Summit Bank 7 7.24% $3,835
    MOVEMENT MORTGAGE, LLC 7 6.60% $6,755
    MidAtlantic Farm Credit, ACA 6 6.90% $5,891
    NAVY FEDERAL CREDIT UNION 6 7.08% $6,588
    S&T Bank 4 6.81% $4,727
    U.S. Bank 4 7.00% $5,806
    JPMorgan Chase Bank 3 7.04% $5,011
    Citizens Bank 3 7.33% $9,581
    CROSSCOUNTRY MORTGAGE, LLC 3 7.37% $8,733
    PENNSYLVANIA STATE EMPLOYEES Credit Union 3 6.25% $2,790
    EQUITY RESOURCES, INC. 3 7.00% $4,383
    ZILLOW HOME LOANS, LLC 2 7.50% $4,154
    BROKER SOLUTIONS, INC. 2 7.25% $5,844
    AFFORDABLE MORTGAGE ADVISORS, LLC. 2 7.06% $3,667
    HOMESTEAD FUNDING CORP. 2 6.63% $5,882
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 7.13% $7,992
    Bank of America 2 6.31% $5,068
    KeyBank 2 7.31% $5,155
    The Huntington National Bank 2 7.31% $4,229
    UNION HOME MORTGAGE CORP. 2 7.13% $8,521
    MILLENNIUM FINANCIAL GROUP, INC. 2 6.75% $4,529
    Wells Fargo Bank 2 6.38% $6,105
    WEST PENN FINANCIAL SERVICE CENTER, INC. 2 6.69% $5,270
    Flagstar Bank, FSB 2 7.06% $6,730
    RADIUS FINANCIAL GROUP INC. 1 5.75% $9,579
    RELIANCE FIRST CAPITAL, LLC 1 5.99% $9,807
    STOCKTON MORTGAGE CORPORATION 1 6.63% $5,826
    The Farmers National Bank of Canfield 1 7.50% $5,237
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.63% $7,692
    United Bank 1 5.99% $4,843
    Univest Bank and Trust Co. 1 7.25% $6,490
    Victorian Finance, LLC 1 6.00% $16,701
    York Traditions Bank 1 7.38% $4,204
    NEWREZ LLC 1 7.63% $3,022
    Alcova Mortgage LLC 1 6.88% $2,006
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.88% $7,426
    BAY EQUITY LLC 1 6.99% $6,771
    BMO Harris Bank 1 5.88% $8,097
    Carrington Mortgage Services, LLC 1 7.00% $5,490
    CHESSIE 1 6.25% $3,736
    Clear Mountain Bank 1 7.00% $4,244
    CNB Bank 1 7.13% $6,308
    DEEPHAVEN MORTGAGE LLC 1 8.88% $11,255
    FEDERATED MORTGAGE CORP. 1 5.38% $4,318
    FIDELITY DIRECT MORTGAGE, LLC 1 8.88% $11,255
    Fifth Third Bank 1 7.13% $4,763
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $7,083
    FIRST HERITAGE FINANCIAL, LLC 1 7.38% $3,249
    FREEDOM MORTGAGE CORPORATION 1 8.13% $5,112
    Gateway First Bank 1 7.50% $6,587
    GUARANTEED RATE, INC. 1 6.63% $4,375
    GUILD MORTGAGE COMPANY 1 6.63% $4,540
    HOMEXPRESS MORTGAGE CORP. 1 9.38% $10,848
    JLB CORPORATION 1 6.88% $5,370
    JMAC LENDING, INC. 1 6.38% $4,281
    MEMBERS 1ST FEDERAL CREDIT UNION 1 6.63% $4,072
    Mid Penn Bank 1 7.50% $3,808
    Mr. Cooper ( Nationstar Mortgage ) 1 7.49% $6,955
    M&T Bank 1 7.00% $14,605
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $6,453
    PENNYMAC LOAN SERVICES, LLC 1 7.50% $8,848
    PENTAGON FEDERAL CREDIT UNION 1 6.50% $7,079
    PLAZA HOME MORTGAGE, INC. 1 5.63% $8,298
    Presidential Bank, FSB 1 7.13% $6,672
    PROVIDENT FUNDING ASSOCIATES, L.P. 1 7.00% $8,538

    Somerset Average Closing Costs & Other Stats

    Somerset, PA's 73 lenders originated 1,258 loans during 2024. The total origination value was $166,790,000, with an average loan value of $132,583.

    Somerset's average closing costs are $4,842.

    The top Somerset lender as defined by loan originations is First National Bank of Pennsylvania, with 39 loans originated. Their average total fees are $4,497, which is $517 higher than the next largest lender, SOMERSET TRUST COMPANY.

    The lowest fee Somerset lenders (with over 10 loans originated) are SOMERSET TRUST COMPANY ($3,980), First Commonwealth Bank ($4,420), First National Bank of Pennsylvania ($4,497), FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION ($4,554) and PNC Bank ($4,912).

    The lowest rate Somerset lenders (with over 10 loans originated) are FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION (6.09%), PNC Bank (6.34%), First Commonwealth Bank (6.65%), SOMERSET TRUST COMPANY (6.66%) and First National Bank of Pennsylvania (6.72%).

    Somerset, PA 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
    SOMERSET TRUST COMPANY $24,995,000 $27,375,000 9.5% 16.4%
    First National Bank of Pennsylvania $12,555,000 $23,670,000 88.5% 14.2%
    QUICKEN LOANS, LLC $6,520,000 $8,885,000 36.3% 5.3%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $7,715,000 $7,780,000 0.8% 4.7%
    PNC Bank $6,470,000 $7,080,000 9.4% 4.2%
    First Commonwealth Bank $6,770,000 $6,900,000 1.9% 4.1%
    1st Summit Bank $8,170,000 $5,950,000 -27.2% 3.6%
    FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION $8,360,000 $5,050,000 -39.6% 3.0%
    AmeriServ Financial Bank $2,265,000 $4,995,000 120.5% 3.0%
    UNITED WHOLESALE MORTGAGE, LLC $1,565,000 $3,850,000 146.0% 2.3%
    Mortgage Research Center, LLC $3,750,000 $3,230,000 -13.9% 1.9%
    Slovenian Savings & Loan Association of Franklin-Conemaugh $5,135,000 $2,860,000 -44.3% 1.7%
    MOVEMENT MORTGAGE, LLC $2,615,000 $2,440,000 -6.7% 1.5%
    Dollar Bank, Federal Savings Bank $650,000 $2,335,000 259.2% 1.4%
    PENNSYLVANIA STATE EMPLOYEES Credit Union $1,870,000 $2,215,000 18.4% 1.3%
    NAVY FEDERAL CREDIT UNION $1,215,000 $1,980,000 63.0% 1.2%
    S&T Bank $4,510,000 $1,835,000 -59.3% 1.1%
    InFirst Bank $4,130,000 $1,785,000 -56.8% 1.1%
    MidAtlantic Farm Credit, ACA $975,000 $1,785,000 83.1% 1.1%
    Citizens Bank $1,400,000 $1,675,000 19.6% 1.0%
    Commercial Bank and Trust of PA $665,000 $1,475,000 121.8% 0.9%
    CNB Bank $545,000 $1,385,000 154.1% 0.8%
    21ST MORTGAGE CORPORATION $270,000 $1,375,000 409.3% 0.8%
    HOMESTEAD FUNDING CORP. $1,250,000 n/a 0.7%
    U.S. Bank $1,210,000 n/a 0.7%
    CROSSCOUNTRY MORTGAGE, LLC $545,000 $1,185,000 117.4% 0.7%
    UNION HOME MORTGAGE CORP. $640,000 $1,155,000 80.5% 0.7%
    Mr. Cooper ( Nationstar Mortgage ) $545,000 $1,060,000 94.5% 0.6%
    EQUITY RESOURCES, INC. $210,000 $965,000 359.5% 0.6%
    Victorian Finance, LLC $215,000 $950,000 341.9% 0.6%
    M&T Bank $95,000 $885,000 831.6% 0.5%
    Wells Fargo Bank $2,850,000 $840,000 -70.5% 0.5%
    BMO Harris Bank $835,000 n/a 0.5%
    Bank of America $135,000 $760,000 463.0% 0.5%
    PENTAGON FEDERAL CREDIT UNION $1,055,000 $745,000 -29.4% 0.4%
    PLAZA HOME MORTGAGE, INC. $540,000 $710,000 31.5% 0.4%
    BAY EQUITY LLC $155,000 $695,000 348.4% 0.4%
    Wayne Bank $405,000 $655,000 61.7% 0.4%
    USSCO Federal Credit Union $1,065,000 $640,000 -39.9% 0.4%
    JPMorgan Chase Bank $395,000 $610,000 54.4% 0.4%
    GUILD MORTGAGE COMPANY $395,000 $605,000 53.2% 0.4%
    Gateway First Bank $575,000 n/a 0.3%
    AFFORDABLE MORTGAGE ADVISORS, LLC. $480,000 $545,000 13.5% 0.3%
    PENNYMAC LOAN SERVICES, LLC $290,000 $545,000 87.9% 0.3%
    Clear Mountain Bank $540,000 n/a 0.3%
    BROKER SOLUTIONS, INC. $75,000 $530,000 606.7% 0.3%
    NBKC BANK $255,000 $520,000 103.9% 0.3%
    EMM LOANS LLC $105,000 $505,000 381.0% 0.3%
    KeyBank $505,000 n/a 0.3%
    USAA Federal Savings Bank $600,000 $495,000 -17.5% 0.3%
    HOWARD HANNA FINANCIAL SERVICES, INC. $1,060,000 $460,000 -56.6% 0.3%
    Univest Bank and Trust Co. $445,000 n/a 0.3%
    Flagstar Bank, FSB $360,000 $440,000 22.2% 0.3%
    DEEPHAVEN MORTGAGE LLC $435,000 n/a 0.3%
    FIDELITY DIRECT MORTGAGE, LLC $185,000 $435,000 135.1% 0.3%
    First Federal Bank of the Midwest $425,000 n/a 0.3%
    Reliance Savings Bank $425,000 n/a 0.3%
    C-B-W Schools Federal Credit Union $75,000 $415,000 453.3% 0.2%
    STOCKTON MORTGAGE CORPORATION $440,000 $390,000 -11.4% 0.2%
    MILLENNIUM FINANCIAL GROUP, INC. $380,000 n/a 0.2%
    The Huntington National Bank $380,000 n/a 0.2%
    Clearview Federal Credit Union $495,000 $370,000 -25.3% 0.2%
    Fifth Third Bank $365,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $185,000 $365,000 97.3% 0.2%
    Carrington Mortgage Services, LLC $210,000 $350,000 66.7% 0.2%
    First United Corporation $285,000 $340,000 19.3% 0.2%
    CHESSIE $35,000 $330,000 842.9% 0.2%
    WEST PENN FINANCIAL SERVICE CENTER, INC. $2,070,000 $330,000 -84.1% 0.2%
    NEW DAY FINANCIAL, LLC $770,000 $325,000 -57.8% 0.2%
    PennCrest Bank $305,000 n/a 0.2%
    Brentwood Bank $295,000 n/a 0.2%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $280,000 n/a 0.2%
    MEMBERS 1ST FEDERAL CREDIT UNION $25,000 $270,000 980.0% 0.2%
    ZILLOW HOME LOANS, LLC $400,000 $270,000 -32.5% 0.2%
    Equity Prime Mortgage LLC $355,000 $255,000 -28.2% 0.2%
    Sail Mortgage Corp. $250,000 n/a 0.1%
    TIDEWATER MORTGAGE SERVICES, INC. $245,000 n/a 0.1%
    United Bank $245,000 n/a 0.1%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $215,000 n/a 0.1%
    FIRST COMMUNITY MORTGAGE, INC. $215,000 n/a 0.1%
    RELIANCE FIRST CAPITAL, LLC $215,000 n/a 0.1%
    The Farmers National Bank of Canfield $255,000 $215,000 -15.7% 0.1%
    HOMEXPRESS MORTGAGE CORP. $205,000 n/a 0.1%
    NEWREZ LLC $205,000 n/a 0.1%
    Presidential Bank, FSB $205,000 n/a 0.1%
    Texana Bank $205,000 n/a 0.1%
    PROVIDENT FUNDING ASSOCIATES, L.P. $195,000 n/a 0.1%
    VILLAGE CAPITAL MORTGAGE $195,000 n/a 0.1%
    JMAC LENDING, INC. $185,000 n/a 0.1%
    Union Savings Bank $2,310,000 $185,000 -92.0% 0.1%
    AMERISAVE MORTGAGE CORPORATION $95,000 $180,000 89.5% 0.1%
    American Financial Mortgage Corporation $175,000 n/a 0.1%
    Figure Lending LLC $70,000 $170,000 142.9% 0.1%
    LOANDEPOT.COM, LLC $260,000 $160,000 -38.5% 0.1%
    MUTUAL OF OMAHA MORTGAGE, INC. $190,000 $160,000 -15.8% 0.1%
    RADIUS FINANCIAL GROUP INC. $155,000 n/a 0.1%
    VANDERBILT MORTGAGE AND FINANCE, INC. $1,405,000 $155,000 -89.0% 0.1%
    NATIONS RELIABLE LENDING, LLC $460,000 $150,000 -67.4% 0.1%
    LAKEVIEW LOAN SERVICING, LLC $375,000 $145,000 -61.3% 0.1%
    CFSBANK $45,000 $135,000 200.0% 0.1%
    TOTAL MORTGAGE SERVICES, LLC $135,000 n/a 0.1%
    Discover Bank $65,000 $130,000 100.0% 0.1%
    FIRST HERITAGE FINANCIAL, LLC $130,000 n/a 0.1%
    MERCK SHARP & DOHME FEDERAL CREDIT UNION $125,000 n/a 0.1%
    MICHIGAN MUTUAL, INC. $340,000 $125,000 -63.2% 0.1%
    Nations Lending Corporation $125,000 n/a 0.1%
    The Loan Store, Inc. $125,000 n/a 0.1%
    Northwest Bank $1,235,000 $110,000 -91.1% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $345,000 $110,000 -68.1% 0.1%
    Beeline Loans, Inc. $105,000 n/a 0.1%
    Century Mortgage Company DBA Century Lending Company $105,000 n/a 0.1%
    Mid Penn Bank $190,000 $105,000 -44.7% 0.1%
    Paramount Residential Mortgage Group, Inc. $105,000 n/a 0.1%
    ROYAL UNITED MORTGAGE LLC $495,000 $105,000 -78.8% 0.1%
    THRIVENT Federal Credit Union $105,000 n/a 0.1%
    ACNB Bank $95,000 n/a 0.1%
    Alcova Mortgage LLC $95,000 n/a 0.1%
    FEDERATED MORTGAGE CORP. $85,000 n/a 0.1%
    Wayne Savings Community Bank $85,000 n/a 0.1%
    CMG MORTGAGE, INC. $220,000 $75,000 -65.9% 0.0%
    JLB CORPORATION $315,000 $75,000 -76.2% 0.0%
    York Traditions Bank $75,000 n/a 0.0%
    GUARANTEED RATE, INC. $465,000 $65,000 -86.0% 0.0%
    Third Federal Savings and Loan Association of Cleveland $65,000 n/a 0.0%
    TOP FLITE FINANCIAL, INC. $85,000 $65,000 -23.5% 0.0%
    Coastal Community Bank $65,000 $60,000 -7.7% 0.0%
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED $165,000 $60,000 -63.6% 0.0%
    BETTER MORTGAGE CORPORATION $55,000 n/a 0.0%
    FINANCE OF AMERICA REVERSE LLC $55,000 n/a 0.0%
    POLICE & FIRE $45,000 n/a 0.0%
    UTILITIES EMPLOYEES CREDIT UNION $720,000 $45,000 -93.8% 0.0%
    ACT 1ST FCU $55,000 $35,000 -36.4% 0.0%
    PHEPLE FCU $55,000 $25,000 -54.5% 0.0%
    FRICK FINANCIAL FEDERAL CREDIT UNION $15,000 n/a 0.0%

    Somerset's top lender by overall market share is SOMERSET TRUST COMPANY, with 16.4% market share. In second place, with 14.2%, is First National Bank of Pennsylvania, having originated $23,670,000 in loans. In third place, with 5.3%, is QUICKEN LOANS, LLC, having originated $8,885,000 in loans. In fourth place, with 4.7%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $7,780,000 in loans. In fifth place, with 4.2%, is PNC Bank, having originated $7,080,000 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 $168,975 (-3.4%) $230,552 (-0.3%) 0.00 453
    2018-02-01 $167,200 (-5.0%) $230,848 (-0.9%) 0.00 443
    2018-03-01 $169,000 (-3.2%) $237,427 (2.6%) 0.00 468
    2018-04-01 $169,000 (-3.4%) $234,885 (2.3%) 0.00 474
    2018-05-01 $161,100 (-7.9%) $230,331 (0.5%) 0.00 470
    2018-06-01 $166,000 (-5.1%) $237,011 (3.8%) 0.00 471
    2018-07-01 $166,750 (-7.3%) $232,449 (-2.6%) 0.00 484
    2018-08-01 $165,000 (-6.8%) $231,199 (-3.3%) 0.00 478
    2018-09-01 $169,900 (-2.9%) $232,730 (-4.2%) 0.00 489
    2018-10-01 $169,900 (-2.8%) $233,161 (-2.4%) 0.00 479
    2018-11-01 $169,675 (1.8%) $234,959 (3.2%) 0.00 453
    2018-12-01 $169,900 (3.0%) $233,778 (3.0%) 0.00 437
    2019-01-01 $176,500 (4.5%) $240,689 (4.4%) 0.00 399
    2019-02-01 $176,500 (5.6%) $243,052 (5.3%) 0.00 373
    2019-03-01 $173,179 (2.5%) $235,371 (-0.9%) 0.00 370
    2019-04-01 $171,054 (1.2%) $229,026 (-2.5%) 0.00 376
    2019-05-01 $172,400 (7.0%) $233,977 (1.6%) 0.00 386
    2019-06-01 $175,000 (5.4%) $232,460 (-1.9%) 0.00 398
    2019-07-01 $175,675 (5.4%) $237,066 (2.0%) 0.00 412
    2019-08-01 $171,655 (4.0%) $232,552 (0.6%) 0.00 418
    2019-09-01 $166,786 (-1.8%) $229,492 (-1.4%) 0.00 416
    2019-10-01 $163,000 (-4.1%) $227,557 (-2.4%) 0.00 411
    2019-11-01 $165,500 (-2.5%) $230,771 (-1.8%) 0.00 393
    2019-12-01 $169,900 (0.0%) $235,626 (0.8%) 0.00 371
    2020-01-01 $169,900 (-3.7%) $235,991 (-2.0%) 0.00 349
    2020-02-01 $169,900 (-3.7%) $237,731 (-2.2%) 0.00 346
    2020-03-01 $175,000 (1.1%) $240,933 (2.4%) 0.00 332
    2020-04-01 $177,000 (3.5%) $247,876 (8.2%) 0.00 305
    2020-05-01 $187,000 (8.5%) $254,722 (8.9%) 0.00 290
    2020-06-01 $169,975 (-2.9%) $250,742 (7.9%) 0.00 316
    2020-07-01 $180,125 (2.5%) $259,900 (9.6%) 0.00 288
    2020-08-01 $175,000 (2.0%) $262,929 (13.1%) 0.00 255
    2020-09-01 $189,900 (13.9%) $279,154 (21.6%) 0.00 227
    2020-10-01 $205,000 (25.8%) $295,126 (29.7%) 0.00 211
    2020-11-01 $219,450 (32.6%) $310,474 (34.5%) 0.00 197
    2020-12-01 $227,200 (33.7%) $323,452 (37.3%) 0.00 166
    2021-01-01 $229,900 (35.3%) $344,238 (45.9%) 0.00 138
    2021-02-01 $211,200 (24.3%) $345,741 (45.4%) 0.00 131
    2021-03-01 $230,700 (31.8%) $354,364 (47.1%) 0.00 117
    2021-04-01 $231,200 (30.6%) $350,344 (41.3%) 0.00 114
    2021-05-01 $228,000 (21.9%) $348,740 (36.9%) 0.00 108
    2021-06-01 $202,400 (19.1%) $368,528 (47.0%) 0.00 118
    2021-07-01 $184,500 (2.4%) $340,344 (31.0%) 0.00 134
    2021-08-01 $180,700 (3.3%) $325,540 (23.8%) 0.00 152
    2021-09-01 $175,675 (-7.5%) $329,352 (18.0%) 0.00 158
    2021-10-01 $169,900 (-17.1%) $292,293 (-1.0%) 0.00 148
    2021-11-01 $170,925 (-22.1%) $302,879 (-2.5%) 0.00 115
    2021-12-01 $156,000 (-31.3%) $321,660 (-0.6%) 0.00 109
    2022-01-01 $134,900 (-41.3%) $293,772 (-14.7%) 0.00 85
    2022-02-01 $120,000 (-43.2%) $254,810 (-26.3%) 0.00 74
    2022-03-01 $185,000 (-19.8%) $286,841 (-19.1%) 0.00 84
    2022-04-01 $209,950 (-9.2%) $311,726 (-11.0%) 0.00 79
    2022-05-01 $234,925 (3.0%) $310,113 (-11.1%) 0.00 85
    2022-06-01 $225,975 (11.7%) $314,196 (-14.7%) 0.00 98
    2022-07-01 $207,450 (12.4%) $333,025 (-2.2%) 0.00 100
    2022-08-01 $209,475 (15.9%) $352,910 (8.4%) 0.00 112
    2022-09-01 $222,725 (26.8%) $343,259 (4.2%) 0.00 117
    2022-10-01 $179,900 (5.9%) $323,119 (10.6%) 0.00 118
    2022-11-01 $167,625 (-1.9%) $304,530 (0.6%) 0.00 119
    2022-12-01 $175,000 (12.2%) $302,983 (-5.8%) 0.00 104
    2023-01-01 $191,950 (42.3%) $328,067 (11.7%) 0.00 90
    2023-02-01 $204,000 (70.0%) $359,830 (41.2%) 0.00 80
    2023-03-01 $208,000 (12.4%) $352,206 (22.8%) 0.00 68
    2023-04-01 $222,000 (5.7%) $353,677 (13.5%) 0.00 81
    2023-05-01 $249,000 (6.0%) $393,377 (26.9%) 0.00 91
    2023-06-01 $279,000 (23.5%) $389,194 (23.9%) 0.00 106
    2023-07-01 $274,900 (32.5%) $441,217 (32.5%) 0.00 102
    2023-08-01 $248,750 (18.8%) $436,292 (23.6%) 0.00 110
    2023-09-01 $225,900 (1.4%) $423,768 (23.5%) 0.00 103
    2023-10-01 $231,664 (28.8%) $454,422 (40.6%) 0.00 110
    2023-11-01 $194,950 (16.3%) $400,210 (31.4%) 0.00 122
    2023-12-01 $215,000 (22.9%) $425,097 (40.3%) 0.00 109
    2024-01-01 $249,700 (30.1%) $424,412 (29.4%) 0.00 99
    2024-02-01 $246,125 (20.7%) $429,894 (19.5%) 0.00 92
    2024-03-01 $249,000 (19.7%) $392,340 (11.4%) 0.00 100
    2024-04-01 $237,700 (7.1%) $412,285 (16.6%) 0.00 113
    2024-05-01 $251,750 (1.1%) $399,308 (1.5%) 0.00 124
    2024-06-01 $289,900 (3.9%) $428,594 (10.1%) 0.00 136
    2024-07-01 $287,225 (4.5%) $386,517 (-12.4%) 0.00 150
    2024-08-01 $268,900 (8.1%) $380,503 (-12.8%) 0.00 147
    2024-09-01 $278,478 (23.3%) $398,816 (-5.9%) 0.00 154
    2024-10-01 $259,900 (12.2%) $402,948 (-11.3%) 0.00 161
    2024-11-01 $250,000 (28.2%) $390,333 (-2.5%) 0.00 157
    2024-12-01 $239,225 (11.3%) $377,553 (-11.2%) 0.00 137
    2025-01-01 $243,650 (-2.4%) $371,814 (-12.4%) 0.00 117
    2025-02-01 $242,450 (-1.5%) $361,168 (-16.0%) 0.00 115
    2025-03-01 $269,000 (8.0%) $395,582 (0.8%) 0.00 106
    Somerset's median listing price for 2025-03-01 was $269,000, a difference of $20,000 (8.0%) versus the prior year and $26,550 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 $395,582, a difference of $3,242 (0.8%) versus the prior year and $34,414 versus the prior month.

    For the 2025-03-01 period, Somerset had 106 MLS listings, a difference of -9 listings (-8%) versus the prior month and 6 listings (6%) 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 1,782 sqft
    2018-02-01 0 days 1,746 sqft
    2018-03-01 0 days 1,734 sqft
    2018-04-01 0 days 1,726 sqft
    2018-05-01 0 days 1,719 sqft
    2018-06-01 0 days 1,738 sqft
    2018-07-01 0 days 1,750 sqft
    2018-08-01 0 days 1,730 sqft
    2018-09-01 0 days 1,740 sqft
    2018-10-01 0 days 1,750 sqft
    2018-11-01 0 days 1,742 sqft
    2018-12-01 0 days 1,774 sqft
    2019-01-01 0 days 1,772 sqft
    2019-02-01 0 days 1,772 sqft
    2019-03-01 0 days 1,761 sqft
    2019-04-01 0 days 1,740 sqft
    2019-05-01 0 days 1,752 sqft
    2019-06-01 0 days 1,770 sqft
    2019-07-01 0 days 1,775 sqft
    2019-08-01 0 days 1,762 sqft
    2019-09-01 0 days 1,744 sqft
    2019-10-01 0 days 1,730 sqft
    2019-11-01 0 days 1,745 sqft
    2019-12-01 0 days 1,750 sqft
    2020-01-01 0 days 1,754 sqft
    2020-02-01 0 days 1,741 sqft
    2020-03-01 0 days 1,782 sqft
    2020-04-01 0 days 1,814 sqft
    2020-05-01 0 days 1,848 sqft
    2020-06-01 0 days 1,812 sqft
    2020-07-01 0 days 1,828 sqft
    2020-08-01 0 days 1,796 sqft
    2020-09-01 0 days 1,740 sqft
    2020-10-01 0 days 1,766 sqft
    2020-11-01 0 days 1,781 sqft
    2020-12-01 0 days 1,820 sqft
    2021-01-01 0 days 1,810 sqft
    2021-02-01 0 days 1,835 sqft
    2021-03-01 0 days 1,812 sqft
    2021-04-01 0 days 1,733 sqft
    2021-05-01 0 days 1,736 sqft
    2021-06-01 0 days 1,703 sqft
    2021-07-01 0 days 1,685 sqft
    2021-08-01 0 days 1,627 sqft
    2021-09-01 0 days 1,577 sqft
    2021-10-01 0 days 1,563 sqft
    2021-11-01 0 days 1,571 sqft
    2021-12-01 0 days 1,611 sqft
    2022-01-01 0 days 1,575 sqft
    2022-02-01 0 days 1,474 sqft
    2022-03-01 0 days 1,561 sqft
    2022-04-01 0 days 1,675 sqft
    2022-05-01 0 days 1,646 sqft
    2022-06-01 0 days 1,609 sqft
    2022-07-01 0 days 1,665 sqft
    2022-08-01 0 days 1,600 sqft
    2022-09-01 0 days 1,677 sqft
    2022-10-01 0 days 1,584 sqft
    2022-11-01 0 days 1,584 sqft
    2022-12-01 0 days 1,670 sqft
    2023-01-01 0 days 1,701 sqft
    2023-02-01 0 days 1,699 sqft
    2023-03-01 0 days 1,620 sqft
    2023-04-01 0 days 1,515 sqft
    2023-05-01 0 days 1,793 sqft
    2023-06-01 0 days 1,797 sqft
    2023-07-01 0 days 1,850 sqft
    2023-08-01 0 days 1,762 sqft
    2023-09-01 0 days 1,603 sqft
    2023-10-01 0 days 1,774 sqft
    2023-11-01 0 days 1,654 sqft
    2023-12-01 0 days 1,676 sqft
    2024-01-01 0 days 1,683 sqft
    2024-02-01 0 days 1,689 sqft
    2024-03-01 0 days 1,740 sqft
    2024-04-01 0 days 1,755 sqft
    2024-05-01 0 days 1,717 sqft
    2024-06-01 0 days 1,676 sqft
    2024-07-01 0 days 1,708 sqft
    2024-08-01 0 days 1,658 sqft
    2024-09-01 0 days 1,672 sqft
    2024-10-01 0 days 1,647 sqft
    2024-11-01 0 days 1,651 sqft
    2024-12-01 0 days 1,672 sqft
    2025-01-01 0 days 1,670 sqft
    2025-02-01 0 days 1,635 sqft
    2025-03-01 0 days 1,642 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 1,642 sqft. One year prior, the average listing was 1,740 sqft.

    Somerset, PA Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 564 $100,210,000 $177,677
    Refi 215 $24,935,000 $115,977
    Home Improvement 210 $14,060,000 $66,952
    Other 192 $16,680,000 $86,875
    Cash Out Refi 77 $10,905,000 $141,623

    Somerset's most frequently cited loan purpose was Home Purchase, with 564 originations. The 2nd most popular reason was Refi, with 215 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 437 $68,145,000 $155,938
    7-8% 286 $41,540,000 $145,245
    5-6% 269 $28,125,000 $104,554
    Over 8% 144 $12,760,000 $88,611
    4-5% 21 $3,345,000 $159,286
    <2.5% 13 $515,000 $39,615
    3-4% 2 $650,000 $325,000
    2.5-3% 2 $120,000 $60,000

    During 2024, Somerset's most frequently originated rate bucket was 6-7%, with 437 originations.

    Loan Sizing (Somerset, PA MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 636 $33,680,000 $52,956
    $100k-200k 378 $53,620,000 $141,852
    $200k-400k 188 $49,270,000 $262,074
    $400k-600k 40 $18,450,000 $461,250
    $600k-1000k 16 $11,770,000 $735,625

    Somerset's loan sizing saw the bucket of loans from $100,000 or less with 636 originations, totaling $33,680,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 373 $65,365,000 $175,241
    60-80% 243 $41,415,000 $170,432
    20-40% 208 $14,630,000 $70,337
    Under 20% 173 $6,925,000 $40,029
    40-60% 151 $20,905,000 $138,444
    Over 100% 12 $2,750,000 $229,167

    Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 373 originations, totaling $65,365,000 in origination value.