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As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.

Somerville Real Estate Market Review – March 2009 Statistics

Somerville MassachusettsThe month of April is zipping by, but I wanted to pause and look back at residential real estate sales activity in Somerville, MA during the month of March. 

Keep in mind that in Massachusetts the real estate sales process takes on average six to eight weeks from the time an offer is accepted to the closing.  March real estate sales reflect properties that, for the most part, went under agreement in January and February.

 217 residential properties were on the market in Somerville on March 31, 2009. The lowest priced property was listed for $125,000, the most expensive for $2,875,000. Average days on market was 120.

22 properties sold (closed) in Somerville during March with an average sales price of $458,144.  The median sales price was $426,088. Average days on market was 162.

One single family sale closed in March for $465,000.

Thirteen condominium sales closed in March. The least expensive condominium sold for $315,500.  The most expensive condo sold in March closed for $880,000.  The median condo sales price was $393,000.  The average days on market was 237.  Somerville condos sold for an average of 98% of list price.

Eight multi-family property sales closed in March. The lowest sale price for a multi-family was $285,000.  The highest price paid was $650,800. The median sales price was $483,000. Multi-families sold for an average of 96% of list price.

Total Somerville closed residential sales volume in March was $10,079,175.

 See Also:

Somerville MA Real Estate Market Activity – January 2009
Somerville MA Real Estate Market Activity – February 2009


Real estate sales information from MLSpin

Categories: Real Estate Market Info

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