Is Somerset, VA 22972 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Somerset is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Somerset housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Orange County, VA

Population	290
Average income	$177,105
Median home value	$732,100
Owner-occupied	100% of homes
Median year built	1972

Natural hazard riskHurricanes (moderate), winter storms (moderate), hail (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 22972; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 22972

Prefilled for 22972Can I win this house?Multiple-offer likelihood for a listing Prefilled for 22972Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Burr Hill 22433 $156 /sq ft Locust Grove 22508Balanced $207 /sq ft Montpelier Station 22957 — /sq ft Orange 22960Balanced $202 /sq ft Browse all markets →

Where Somerset is

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Questions about Somerset real estate

What are property taxes in Somerset?

About 0.55% of a home’s value a year in Orange County, or roughly $2,200 on a $400,000 home.

Local agents

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More tools for 22972

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Orange County property taxes Orange County loan limits Closing costs in Virginia Hottest ZIP codes in Virginia

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology