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First Half of 2011 Market Summary for Somerville, Massachusetts

The number of sales of residential property (condominiums, single families, and multi-families) in Somerville decreased 19% in the first half of 2011, compared to the first half of 2010. There were 259 sales in the first half of 2011 compared to 320 sales in the first half of 2010.

Total market volume decreased by 13.4%. The first half of 2011 total volume was $113,493,334 compared to the first half of 2010 volume of $131,098,032.

The average sale price increased by 7%. The average sale price in the first half of 2011 was $438,198 compared to $409,681 in the first half of 2010.

The median sale price increased by 6.4%. The median sale price in the first half of 2011 was $399,000 compared to $375,000 in the first half of 2010.

The lowest sale price was $73,000. The highest sale price of an individual property was $1,001,000.

At the end of the first half of 2011 inventory was up 33% from the first half of 2010. On June 30, 2011 there were 356 units on the market. On June 30, 2010 there were 267 units on the market.


All statistics are from MLS Property Information Network.
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