Somerville MA Real Estate Market - January-October 2011 | 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 MA Real Estate Market – January-October 2011

Somerville MA Real Estate Market

Somerville MA Real Estate Market

As we head into the holiday season real estate market activity tends to slow down a bit.  Time for a look back to see how the Somerville MA real estate market fared this year with a look at the numbers for January through October 2o11.

Last year’s numbers for the same period are in parentheses.

Approximately 7% fewer residential properties sold in Somerville this year.  Properties took an extra week to sell on average.  At the same time the median real estate sales price in Somerville increased by 6% with increases in median sales price for all property types.

Total properties sold in Somerville – Jan-Oct 2011:

  • 495 (529)
  • Average days on market = 84 (77)
  • Properties sold for an average of 97%  of asking price (98%) 
  • Median price of $410,000 ($387,000)

Somerville Single Family Sales – Jan-Oct 2011

  • Total sold: 57 (70 )
  • Sale prices ranged from $109,000 – $965,000  ($150,000 – $1,001,000)
  • Median price: $475,000  ($390,000)
  • Average days on market: 89   (70)
  • On average, houses sold for 98% of asking price   (99% )

Somerville Condo Sales – Jan-Oct 2011

  • Total sold: 309  (334)
  • Sale prices ranged from $73,000 – $1,180,000  ($150,000 – $775,000)
  • Median price: $367,000  ($357,000)
  • Average days on market: 85  (79)
  • On average, condos sold for 98% of asking price   (98%)

Somerville Multi-Family Sales

  • Total sold: 129  (125)
  • Sale prices ranged from $190,000 – $2,075,000  ($248,000 – $940,000)
  • Median price: $520,000  ($510,000)
  • Average days on market: 80  (75)
  • On average, multi-unit houses sold for 96% of asking price  (98% )

 

somerville-ma-real-estate

 

Info about Somerville MA real estate market in 2011 (2010) from MLSpin

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