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First Half of 2012 Market Summary for Somerville, MA

The number of sales of residential property (condominiums, single families, and multi-families) in Somerville increased 29.2% in the first half of 2012, compared to the first half of 2011. There
were 336 sales in the first half of 2012 compared to 260 sales in the first half of 2011.

Total market volume increased by 30.2%. The first half of 2012 total volume was $148,291,663 compared to the first half of 2011 volume of $113,828,334.

The average sale price increased by 8%. The average sale price in the first half of 2012 was $441,344 compared to $437,801 in the first half of 2011.

The median sale price increased by 5.8%. The median sale price in the first half of 2012 was $419,700 compared to $396,750 in the first half of 2011.

The lowest sale price was $146,900. The highest sale price of an individual property was $1,290,000.

At the end of the first half of 2012 inventory was down 44.6% from the first half of 2011. On June
30, 2012 there were 138 units on the market. On June 30, 2011 there were 249 units on the market.

All statistics are from MLS Property Information Network.
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