The Lake Somerset housing market is somewhat competitive. The median sale price of a home in Lake Somerset was $261K last month, down 22.0% since last year. The median sale price per square foot in Lake Somerset is $171, down 28.5% since last year.
What is the housing market like in Lake Somerset today?
In March 2024, Lake Somerset home prices were down 22.0% compared to last year, selling for a median price of $261K. On average, homes in Lake Somerset sell after 30 days on the market compared to 26 days last year. There were 6 homes sold in March this year, down from 8 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$261,000
-22.0% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Lake Somerset, FL
$261,000
-22.0%
United States
To compare other locations to the Lake Somerset and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Lakeland add value to a home.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Lake Somerset housing market?
Lake Somerset is somewhat competitive. Homes sell in 27 days.
0
100
64
Somewhat Competitive
Redfin Compete Score™
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 12 months
Some homes get multiple offers.
The average homes sell for about 2% below list price and go pending in around 27 days.
Hot homes
can sell for around list price and go pending in around 7 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Lake Somerset housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Lake Somerset.
Risk Factor
Flood Factor - Major
56% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Lake Somerset has a major risk of flooding. 249 properties in Lake Somerset are likely to be
severely affected
by flooding over the next 30 years. This represents 56% of all properties in Lake Somerset. Flood risk is increasing slower than the national average.
72% of properties are at risk of wildfire over the next 30 years
Fire Factor
Lake Somerset has a moderate risk of wildfire. There are 682 properties in Lake Somerset that have some risk of being affected by wildfire over the next 30 years. This represents 72% of all properties in Lake Somerset.
100% of properties are at extreme
risk of a severe wind event over the next 30 years
Wind Factor
Lake Somerset has an Extreme Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Lake Somerset is most at risk from hurricanes. 944 properties in Lake Somerset have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 143 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 157 mph.