Somerset, KY- Median Listing Prices are Up as Active Inventory DecreasesNovember 13th, 2017
Robert Baker has been an appraiser for the past 19 years, and began his career working for a friend’s appraisal company. Over the years Robert has performed many different assignments, from residential work to litigation and divorce estate work. South Eastern Kentucky is a very rural market with a wide variety of homes, with a range of value anywhere from $20,000 to over $2 million. Robert enjoys the versatility the market brings, and understands the importance of embracing diversity to better serve the clients in his market. According to Robert, one of the most important aspects of appraising is continued education and valuable mentors. Though he has been an appraiser for 19 years, there is always room to learn and grow.
South Eastern, KY Market – Somerset
In Somerset Kentucky, the median listing price is up as active inventory is down. The median listing price is $197,900, up 7% compared to this time last year when the median list price was $183,999. Active inventory for the market is down 30% from this time last year, and down 2% since last month (Movoto; Market Trends). Renters make up a majority of the market at 60.1% compared to owners at 39.9%, while a majority of the property types are single-family homes (56.3% of market). Somerset is a city of mixed blue and white collar jobs, and is a city of sales, office workers, professionals, and service providers. Common jobs for the Somerset market include Office & Administrative Support at 17.44%, Sales Jobs at 13.94%, and Food Services at 9.34% of the market (Neighborhood Scout; Somerset, KY).
Survey Category Ratings 1 – 10
Timely Delivery – 10
Communication – 10
Staff Knowledge – 10
Professionalism – 10
Technology – 10
Service – 10
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