Somerville MA Real Estate Market 2009 and 2008 | Centers And Squares

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.

Somerville Real Estate Market 2009 and 2008

Welcome to the Somerville Homes Sold Report

Welcome to the Somerville Homes Sold Report

Here’s a look back at Somerville home sales in 2009 and 2008 followed by the monthly numbers for December 2009. Figures are for sales of properties listed on the MLS, the Multiple Listing System.

Somerville real estate sales bumped up modestly in 2009, with 4.5% more properties sold in 2009 than in 2008 and an equivalent increase in total dollar value of real estate sold.

The mix of properties did shift however.  Single family sales dropped by more than 20% while condo sales and multi-family sales jumped.  As with other towns we’ve looked at, the drop in single family sales was a result of fewer properties being listed for sale.  While the median price was down for single families, those that sold did so more quickly on average and for sale prices closer to the sellers’ asking prices.

Somerville Real Estate Year In Review

Total properties sold in Somerville:

  • In 2009: 578  (+4.53%)
  • In 2008: 553

Average days on market:

  • 2009: 87 (-20.19%)
  • 2008: 109

Total value of real estate sales:

  • 2009: $233,547,999 (+4.43%)
  • 2008: $223,646,177

Properties sold for:

  • 2009: An average of 97% of asking price and a median price of $381,000 (+1.6%)
  • 2008: An average of 97% of asking price and a median price of $375,000

Somerville Single Family Sales

  • 2009: 63 (-21.25%)
  • 2008: 80

Price range for single family homes:

  • 2009: $132,500 to $1,100,000
  • 2008: $107,000 to $970,000

Median price of single family houses sold:

  • 2009: $377,000 (-5.7%)
  • 2008: $399,750

On average, single families:

  • In 2009: were on the market 79 days & sold for 97% of asking price
  • In 2008: were on the market 107 days & sold for 95% of asking price

Somerville Condo Sales

  • 2009: 360 (+9.43%)
  • 2008: 329

Price range for condos:

  • 2009: $88,000 to $893,000
  • 2008: $134,000 to $685,000

Median price of condominiums sold:

  • 2009: $363,500 (-3.86%)
  • 2008: $350,000

On average, Somerville condos:

  • In 2009: were on the market 90 days and sold for 97% of list price
  • In 2008: were on the market 105 days and sold for 97% of list price

Somerville Multi-Family Sales

  • 2009: 155 (+7.64%)
  • 2008: 144

Price range for multi-family properties:

  • 2009: $202,000 to $1,000,000
  • 2008: $180,000 to $1,150,000

Median price of multi-family houses sold:

  • 2009: $465,000 (-.43%)
  • 2008: $467,000

On average, Somerville multi-families:

  • In 2009: were on the market 82 days and sold for 97% of list price
  • In 2008: were on the market 119 days and sold for 97% of list price

Here’s are the last monthly Somerville real estate report for 2009 – Somerville Mass real estate sales in December 2009:

Homes On the Market in Somerville

175 Somerville homes were listed for sale in the MLS on Dec. 31, 2009 significantly fewer than were for sale one month before.  Properties were priced between $148,900 and $1,684,133.  Properties had been on the market an average of 161 days. 

Somerville Homes Sold in December 2009

40 residential properties sold in Somerville in December 2009.  The median sales price was $363,000.

4 Somerville single family houses sold in December priced between $285,000 and $845,000.  The median sales price was $368,750.  Houses had been on the market an average of 115 days and sold for an average of 92% of asking price. 

31 condos sold in Somerville in December for prices from $144,000 and $879,000.  Condos were on the market an average of 109 days. The median sales price was $350,000.  Condominiums sold for 97% of the asking price on average.

5 multi-family homes sold during December for prices from $240,000 to $1,000,000. The median sales price in December was $450,500. On average, multi-unit houses sold for 100% of list price and were on the market 61 days.

Total value of Somerville homes sold in December was $15,761,400.

 See Also:

 November 2009 Somerville Real Estate Activity

 

somerville-ma-real-estate

 Somerville homes sold info from MLSpin

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  1. Ed Daniels - Metrowest MA Real Estate

    Glad I found you as a link from the Real Estate Tomato post about links. I like your site and look forward to reading your feed. I am a numbers guy and like your post, but maybe break it into a few separate posts to keep the attention. If I was in Somerville, I am sure I would be a big fan of yours though. Great site.

  2. Elizabeth Bolton

    Hi Ed, Thanks for stopping by. The market reports this month are, in fact, essentially two posts in one. I do a monthly wrap- up for each town and added it to the bottom of the real estate year in review post. It was interesting to get a look at the year to year changes but truth be told, I don’t want to fill my blog with market reports so six long posts rather than a dozen or more shorter ones works for me. Now I’ve just got to go back and fill in the every other day slots with anything but market reports!

    Liz

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