October 2021 South Somerset Property Market Report

Properties in South Somerset had an overall average price of £313,587 over the last year.

The majority of sales in South Somerset during the last year were detached properties, selling for an average price of £434,756. Terraced properties sold for an average of £220,781, with semi-detached properties fetching £255,360.

Overall, sold prices in South Somerset over the last year were 14% up on the previous year and 23% up on the 2018 peak of £255,684.

Available stock in October was 395 properties down from 424 in September.

There were 167 new instructions to the market which is slightly up from 160 in September and shows that the property market is still active as we come into the traditionally busy Autumn period. A lot of people are hoping for a move before Christmas, but the timings for this are now very tight. If that is something you need to achieve, it will take very careful planning to ensure it can be achieved.

With 158 sales agreed across the area last month, this did not change significantly from the month before, showing continued demand in the market. However, with less and less stock available, this is leading to properties that are correctly priced and marketed being snapped up quickly. There were also 30 price reductions last month totalling over £665,000.

Across the wider region, there are 793 properties that have been on the market for over 12 weeks, known as “slow movers”. In a fast-moving market with strong demand, it is essential to have a regular review of your marketing if you are one of these slow movers. Let’s take a quick look at how this compares year on year.

Oct 2020          Oct 2021          Change

Detached        176 days         157 days  -11%

Semi               136 days         131 days  -4%

Terraced         140 days         155 days  +11%

Flat                 220 days         223 days  +1%

All                  173 days         178 days  +3%