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Somerville, First Half of 2014 Market Summary



The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville increased 8.2% in the first half of 2014, compared to the first half of 2013. There were 317 sales in the first half of 2014 compared to 293 sales in the first half of 2013.

Total market volume increased by 26.7%. The first half of 2014 total volume was $183,122,737 compared to the first half of 2013 volume of $144,559,279.

The average sale price increased by 17.8%. The average sale price in the first half of 2014 was $581,342, compared to $493,376 in the first half of 2013.

The median sale price increased by 11.7%. The median sale price in the first half of 2014 was $535,000 compared to $479,000 in the first half of 2013.

The lowest sale price was $130,000. The highest sale price was $1,575,000.

At the end of the first half of 2014, inventory was down 25.3% from the first half of 2013. On June 30, 2014, there were 62 units on the market. On June 30, 2013, there were 83 units on the market.


All Statistics are from MLS Property Information Network

Somerville June 2014 Market Stats
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