Somerville Real Estate Market Activity - June 2009 | Centers And Squares

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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 Activity – June 2009

Welcome to the Somerville Real Estate Market Report

Welcome to the Somerville Real Estate Market Report

Before the month gets away from me let’s take a look back at the Somerville real estate market in June 2009.

Somerville Real Estate Market – Homes for Sale

282 residential properties were on the market in Somerville on June 30, 2009 ranging in price from $1 to $1,600,000.  The average days on market was 107. 

And yes – that low price is $1.  It appears to be a marketing technique – a condo that was on the market for about six weeks, originally priced at $329,000 and reduced in incremental drops to $307,000 was repriced at $1 a couple of weeks ago.  The listing suggests that buyers can “put a true value” on the condo but also notes that if you “come in with a strong offer this condo could be yours”.  Clearly despite the teaser price the seller is still looking for a reasonable price however he or she defines that.  And incidentally, the lowest “real” asking price for a home in Somerville is $115,000.

Somerville Real Estate Sales in June 2009

64 Somerville houses sold during the month of June.  This was an increase of over 50% from May when 40 residential properties sold.  The average sales price was $408,145.  The median sales price was $381,500.  The average days on market was 79.

7 single family homes sold in June.  The least expensive house sold for $132,500 and the most expensive home sold for $802,000.  The median sales price was $340,000.  In June Somerville single family homes sold for an average of 96% of list price.  Average days on market was 117. 

42 Somerville condos sold in June. The least expensive condominium sold for $177,000.  The most expensive condo sale price  in June was $657,000.  The median condo sales price was $381,500.  The average days on market was 78.  Somerville condos sold in June for an average of 98% of list price.

15 multi-family properties sold in June for prices ranging from $215,000 to $859,000. The median sales price in June was $417,500. Multi-unit houses sold for an average of 95% of asking price.  Average days on market was 64.

Total Somerville closed residential sales volume in June was $26,121,300.

 See Also:

 May 2009 Somerville Real Estate Activity

 

somerville-ma-real-estate

 

Information about Somerville real estate market activity from MLSPIN

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