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Somerville, MA: First Half of 2016 Market Summary

Somerville First Half 2016

The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville  increased by 32.82% in the first half of 2016 compared to the first half of 2015. There were 344 sales in the first half of 2016, compared to 259 sales in the first half of 2015.

Total market volume increased by 42.12%. The first half of 2016 total volume was $251,519,706, compared to the first half of 2015 volume of $176,972,050.

The average sale price increased by 7%. The average sale price in the first half of 2016 was $731,162, compared to $683,290 in the first half of 2015.

The median sale price increased by 10%. The median sale price in the first half of 2016 was $660,250, compared to $600,000 in the first half of 2015.

The lowest sale price was $151,000. The highest sale price was $2,460,000.

At the end of the first half of 2016, inventory was up 23.88% from the first half of 2015. On June 30, 2016, there were 83 units on the market. On June 30, 2015, there were 67 units on the market.


All statistics are from MLS Property Information Network.
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