Welcome to Centers and Squares
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.
Here’s the last of the third-quarter wrap-ups with a Somerville MA real estate review of sales for January through September 2012.
Last year’s numbers for the same period are in parentheses.
Like the other towns and cities we’ve looked at Somerville real estate has done much better in 2012 than in the last few years. Demand was way up and inventory was way down. Significantly more properties sold this year than last. The increase was in condo and single family house sales while multi-family sales held steady.
On September 30, 2012 112 residential properties were on the market in Somerville. That’s a dramatic drop from one year ago when 227 properties were listed for sale.
Total properties sold in Somerville – Jan-Oct 2012 (2011)
- 551 (452)
- Average days on market = 67 (83)
- Properties sold for an average of 99% of asking price (97%)
- Median price of $419,900 ($410,000)
Somerville Single Family Sales – Jan-Sept 2012 (2011)
- Total sold: 68 (48 )
- Sale prices ranged from $185,000 – $1,295,000 ($109,000 - $965,000)
- Median price: $472,250 ($460,000)
- Average days on market: 89 (71)
- On average, houses sold for 99% of asking price (98% )
Somerville Condo Sales – Jan-Sept 2012 (2011)
- Total sold: 367 (286)
- Sale prices ranged from $144,850 – $1,200,000 ($73,000 - $1,180,000)
- Median price: $390,000 ($365,500)
- Average days on market: 66 (87)
- On average, condos sold for 99% of asking price (98%)
Somerville Multi-Family Sales – Jan-Sept 2012 (2011)
- Total sold: 116 (118)
- Sale prices ranged from $235,000 – $1,180,000 ($190,000 – $2,075,000)
- Median price: $535,000 ($520,000)
- Average days on market: 72 (79)
- On average, multi-unit houses sold for 98% of asking price (96% )
Info about Somerville MA real estate market in 2012 (2011) from MLSpin