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Somerville: First Half of 2017 Market Summary

Somerville First Half of 2017

The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville decreased by 10.11% in the first half of 2017, compared to the first half of 2016. There were 311 sales in the first half of 2017 compared to 346 sales in the first half of 2016.

Total market volume decreased by 1.24%. The first half of 2017 total volume was $249,670,698 compared to the first half of 2016 volume of $252,806,706.

The average sale price increased by 9.87%. The average sale price in the first half of 2017 was $802,800, compared to $730,655 in the first half of 2016.

The median sale price increased by 9.04%. The median sale price in the first half of 2017 was $720,000, compared to $660,250 in the first half of 2016.

The lowest sale price was $250,000. The highest sale price was $2,150,000.

At the end of the first half of 2017, inventory decreased by 11.9% from the first half of 2016. On June 30, 2017, there were 74 units on the market. On June 30, 2016, there were 84 units on the market.

All statistics are from MLS Property Information Network.

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