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Somerville, Massachusetts: 2016 Market Summary

Somerville, Massachusetts: 2016 Market Summary


Somerville Market 2016 vs 2015







































































The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville increased by 14.15% in 2016 compared to 2015. There were 734 sales in 2016, compared to 643 sales in 2015.

Total market volume increased by 20.2%. 2016 total volume was $535,827,662, compared to 2015 volume of $445,771,978.

The average sale price increased by 5.3%. The average sale price in 2016 was $730,010, compared to $693,269 in 2015.

The median sale price increased by 4.8%. The median sale price in 2016 was $660,250, compared to $630,000 in 2015.

The lowest sale price was $151,000. The highest sale price was $2,460,000.

At the end of 2016, inventory was down 8% from 2015. On December 31, 2016, there were 46 units on the market. On December 31, 2015, there were 50 units on the market.

All statistics are from MLS Property Information Network.











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