Somerville, MA: First Half of 2015 Market Summary
The
number of sales of residential properties (condominiums, single
families, and multi-families) in Somerville decreased by 20% in the
first half of 2015 compared to the first half of 2014. There were 257
sales in the first half of 2015 compared to 323 sales in the first half
of 2014.
Total market volume decreased by 6.57%. The first half
of 2015 total volume was $175,276,050, compared to the first half of
2014 volume of $187,610,137.
The average sale price increased by
17.4%. The average sale price in the first half of 2015 was $682,008,
compared to $580,836 in the first half of 2014.
The median sale
price increased by 12.1%. The median sale price in the first half of
2015 was $600,000, compared to $535,000 in the first half of 2014.
The lowest sale price was $209,000. The highest sale price was $1,725,000.
At
the end of the first half of 2015, inventory was up 4.8% from the first
half of 2014. On June 30, 2015, there were 66 units on the market. On
June 30, 2014, there were 63 units on the market.
All statistics are from MLS Property Information Network.