Commercial Sale Skews September Price Range as Somerset Records 16 Deeds
Somerset recorded 16 property deeds from Sept. 4 to Oct. 3, with sale prices available so far for eight. Prices ranged from $185,000 to $3,682,762, with a median of $515,000 among the priced sales. The month's largest transaction, by a wide margin, was a $3,682,762 sale of commercial property at 505 Gar Hwy from Reds Somerset Inc. to Colbea Enterprises LLC. Residential sales with recorded prices clustered mostly between $450,000 and $610,000. Eight deeds, including two on Butternut Road, had no price on record as of this report. At least seven transfers kept ownership within the same family, often via a trust or life estate.
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