Somers's real estate market is experiencing a price correction, with values down 33.9% from last year. Home prices have decreased 23.6% in the past month. With 2.0 months of supply, Somers's inventory levels remain relatively tight. Homes are taking about 57 days to sell, which is -14 days longer than this time last year. A significant 25.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Somers market with the affordability index at 705.8. Looking ahead, the Somers market is expected to maintain its current trajectory with relatively stable conditions.
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