Why Live in Somerset
Somerset is a small town nestled in the rolling hills of rural Kentucky, with a population of around 12,000. Known for its booming tourism industry, Somerset attracts over 4 million visitors annually, primarily due to Lake Cumberland, which offers boating, swimming, and fishing. The town experiences distinct seasons, with hot, humid summers and occasional snowfall in winter. Somerset Independent Schools and Somerset Christian School are highly rated, contributing to the town's appeal for families. Homes range from mid-1900s ranch styles to sprawling lakeside properties, with newer homes found further from the city center. The town's rural streets often lack sidewalks but feature mature trees and large yards. Somerset's crime rates are on par with the national average for property crimes and below the national average for violent crimes. Local attractions include Haney’s Appledale Farm for seasonal fruit picking, the Somernites Cruise car show, and the Master Musicians Festival. The upcoming Horse Soldier Distillery, a $200 million investment, will add to Somerset's attractions. The town serves as a regional hub for healthcare, shopping, and dining, with major roads like U.S. Route 27 and Kentucky Route 80 providing access to nearby cities.
Home Trends in Somerset, KY
On average, homes in Somerset, KY sell after 53 days on the market compared to the national average of 50 days. The median sale price for homes in Somerset, KY over the last 12 months is $259,900, up 6% from the median home sale price over the previous 12 months.
Median Sale Price
$259,900
Median Single Family Sale Price
$282,000
Median Townhouse Sale Price
$240,000
Median 2 Bedroom Sale Price
$250,000
Average Price Per Sq Ft
$142
Number of Homes for Sale
226
Last 12 months Home Sales
450
Median List Price
$289,900
Median Change From 1st List Price
6%
Median Home Sale Price YoY Change
6%