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 MA Real Estate Review – 2010
Here’s the last (phew!) of the end of the year real estate wrap-ups with a review of the Somerville MA real estate market in 2010. We’ve also included the numbers from 2009 and 2008 for comparison. Following the annual numbers we’ve got the report for December’s real estate sales in Somerville.
The number of real estate sales in Somerville rose by 3% in 2010.
Single family sales rose dramatically – by more than 20%. The median price of single family houses sold in Somerville rose by 6%.
Condo sales in Somerville rose by a more modest 3.6%. The median price of condos sold in 2010 dipped slightly.
The number of multi-families sold fell by 7%. The median price, however, rose by 8.5%. It’s always difficult to get a real guage on actual increases or decreases in real estate values. Much depends on the mix of inventory. When we look at what sold in 2010 we find that twice as many multi family houses in Somerville sold for more than $700,000. There were more multi-families sold in popular – and expensive – neighborhoods like Davis Square and a number of three-deckers in good locations.
Somerville MA Real Estate Review – 2010
Welcome to the Somerville Real Estate Report
Total properties sold in Somerville:
- In 2010: 595 (+2.95%)
- In 2009: 578 (+4.53%)
- In 2008: 553
Average days on market:
- 2010: 78 (-10.35%)
- 2009: 87 (-20.19%)
- 2008: 109
Total value of real estate sales:
- 2010: 251,500,915 (+7.69%)
- 2009: $233,547,999 (+4.43%)
- 2008: $223,646,177
Properties sold for:
- 2010: An average of 98% of asking price and a median price of $389,000 (+2.37%)
- 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
- 2010: 78 (+23.81%)
- 2009: 63 (-21.25%)
- 2008: 80
Price range for single family homes:
- 2010: $150,000 to $1,001,000
- 2009: $132,500 to $1,100,000
- 2008: $107,000 to $970,000
Median price of single family houses sold:
- 2010: $402,500 (+5.97%)
- 2009: $377,000 (-5.7%)
- 2008: $399,750
On average, single families:
- In 2010: were on the market 67 days & sold for 99% of asking price
- 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
- 2010: 373 (+3.62%)
- 2009: 360 (+9.43%)
- 2008: 329
Price range for condos:
- 2010: $150,000 to $775,000
- 2009: $88,000 to $893,000
- 2008: $134,000 to $685,000
Median price of condominiums sold:
- 2010: $359,000 (-1.24%)
- 2009: $363,500 (+3.86%)
- 2008: $350,000
On average, Somerville condos:
- In 2010: were on the market 83 days and sold for 98% of list price
- 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
- 2010: 144 (-7.10%)
- 2009: 155 (+7.64%)
- 2008: 144
Price range for multi-family properties:
- 2010: $248,000 to $940,000
- 2009: $202,000 to $1,000,000
- 2008: $180,000 to $1,150,000
Median price of multi-family houses sold:
- 2010: $504,500 (+8.50%)
- 2009: $465,000 (-.43%)
- 2008: $467,000
On average, Somerville multi-families:
- In 2010: were on the market 70 days and sold for 98% of list price
- 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
And here are the numbers for December:
Somerville MA Real Estate on the Market
168 residential properties were listed for sale in Somerville in the MLS on December 31, 2010 – a big drop from one month ago when 213 properties were on the market. Asking prices ranged from 135,000 and $1,600,000.
Somerville MA Real Estate Market – December 2010
37 home sales closed in Somerville in December. The median price paid was $400,000.
3 single family homes sold in Somerville in December for $355,000, $556,500 and $880,000.
22 condos sold in Somerville MA in Dec. 2010 for prices ranging from $170,000 to $679,200. The median condo sales price was $361,725. On average, condos sold for 97% of the list price. Average days on market was 130 for these condominiums.
12 multi-unit houses sold during December for prices from $350,000 to $876,000. The median price paid was $433,000. On average, in December multi-families sold for 101% of the asking price and were on the market an average of just 31 days.
Somerville MA real estate market activity in December 2010 totalled $16,641,650.
See also:
Somerville MA Home Sales November 2010
Info about Somerville MA real estate market in 2010 from MLSpin
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