Blog by Ed Abrams

<< back to article list

2013 Market Summary for Somerville, MA

The number of sales of residential property (condominiums, single families, and multi-families) in Somerville decreased 1% in 2013, compared to 2012. There were 709 sales in 2013 compared to 714 sales in 2012.

Total market volume increased by 13.83%. 2013 total volume was $368,932,345 compared to 2012 volume of $324,096,988.

The average sale price increased by 14.5%. The average sale price in 2013 was $519,623 compared to $453,917 in 2012.

The median sale price increased 16.01%. The median sale price in 2013 was $485,500 compared to $418,500 in 2012.

The lowest sale price was $130,144. The highest sale price was $2,100,000. (Note: the highest sale was our listing at 80 Prospect Street.)

At the end of 2013, inventory was up 3% from 2012. On December 31, 2013, there were 33 units on the market. On December 31, 2012, there were 32 units on the market.


All statistics are from MLS Property Information Network.
blog comments powered by Disqus