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Somerville, MA, 2013 Condominium Market

Somerville 2013 Condominium Market: January 1 - October 22, 2013

Total market volume increased by 1.8%. Total market volume was $171,593,725 in 2013 versus $168,526,000 for the same period in 2012.

The average sale price increased by 11%. The average sale price in 2013 was $446,859 compared to $402,210 in 2012.

The median sale price increased 7.67%. The median sale price in 2013 was $417,950 compared to $388,150 in 2012.

The sale price to list price ratio increased from 99% in 2012 to 102%.

Average days or market decreased from 65 days on market in 2012 to 37 days on market in 2013.

The lowest sale price was $135,000. The highest sale price was $1,200,000.

On October 22, 2013 inventory was down 7.4% from 2012. On October 22, 2013 there were 50 units on the market. On October 22, 2012 there were 54 units on the market.

All statistics are from MLS Property Information Network. Note: on May 17, 2013 MLSPIN removed the Active Seeking Backup Offer status. All listings prior to May 17, 2013 under this status were under agreement, but did not show up under agreement. Please note that this change distorts inventory and pending sale comparisons.
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