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

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

Click here to continue reading about the Somerville MA real estate market

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Somerville Snow Removal

Somerville Snow Removal

Somerville Snow Removal

It was 6:30 this evening before I finished shoveling so I haven’t been out and about.

I can only imagine the mess – it’s not easy when large amounts of snow are dumped in the city.  Working as a real estate agent in Cambridge means that I’m frequently driving around searching for parking spaces ever more rare in the snow filled streets,  climbing over snow banks, repeatedly taking off and putting on the LL Bean boots that become my footwear of choice once snow falls.

Every year I find myself wishing that Cambridge would follow Somerville’s lead in snow removal. The city of Somerville does a great job of snow removal – not just during the storm but in the days after.  Somerville actually removes snow from the streets – clearing parking spaces, making sure that crosswalks are cleared, making room for the next storm’s snow.  In Cambridge we just hope that the snow melts quickly.

Sure enough, yesterday I spotted this City of Somerville truck loaded with snow removed from the streets in anticipation of the storm. The DPW has been out all month taking away snow, days after the last storm. It only makes sense in the city where there just isn’t room for large piles of snow that make driving, parking and walking a hassle or worse.

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Somerville MA Real Estate Market – Nov 2010

Welcome to the Somerville MA Real Estate Market Report

Welcome to the Somerville MA Real Estate Market Report

Last but not least – here’s a quick look at Somerville MA real estate market activity in November 2010.

Somerville MA Real Estate on the Market 

213 residential properties were listed for sale in Somerville in the MLS on November 30, 2010 for asking prices between $135,000 and $1,600,000. 

That’s close to 10% fewer listings than one month ago when  235 properties were on the market.  As I write, even fewer properties are for sale in Somerville –  only 186. Inventory dips between Thanksgiving and the end of the year.  Homes continue to go under agreement but relatively few new properties come on the market until the new year. 

Inventory is actually down from the same time last yearwhen 223 residential properties were on the market in Somerville MA.

Somerville MA Real Estate Market – November 2010

29 home sales closed in Somerville in November. The median price paid was $415,000.  That’s a decrease of almost 50% from November 2009 sales when 56 properties sold.

5  single family homes sold in Somerville in November priced between $278,000 and $800,000.  The median sales price was $655,000.  On average, single family houses sold for 99% of the asking price.  Average days on market for these houses was just 34.

18 condos sold in Somerville MA  in Nov. 2010 for prices ranging from $288,000 to $635,000.  The median condo sales price was $377,250.  On average, condos sold for 98% of the list price.  Average days on market was 105 for these condominiums.

6 multi-unit houses sold during November for prices from $345,000 to $580,000. The median price  paid was $430,000. On average, multi-families sold for 95% of the asking price and were on the market an average of 52 days.

Somerville MA  real estate market activity in November 2010 totalled $12,848,000.

 

See also:

Somerville MA Home Sales October 2010

  

somerville-ma-real-estate

 

Info about Somerville MA real estate market in November 2010 from MLSpin

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Somerville Illuminations Tour 2010

The Somerville Illuminations Tour - Dec 18, 2010

The Somerville Illuminations Tour - Dec 18, 2010

Somerville Illuminations Tour 2010   Christmas lights are one of my very favorite things. Many homeowners in the city go all out and the display can be dazzling.  More houses on my street have lights than don’t.  What a treat from our neighbors who pay that hefty electric bill!

Somerville Illuminations Christmas Lights Tour

Some Somerville homeowners really do it up with extraordinary displays of Christmas lights and figures.

Each year the Somerville Arts Council has a trolley tour of the best Christmas lights displays in Somerville. 

This year’s Illuminations Tour is scheduled for  Saturday, December 18, 2010

Tickets went on sale on December 1st and the 45 minute tour typically sells out.  Tickets are sold for set times and for a particular trolley.  Trolleys leave from City Hall and tour times run from 4:30 pm to 9:15 pm.

Tickets are sold only at the Blue Cloud Gallery in Ball Square, Somerville at 713 Broadway.  Tickets must be purchased in person and paid for by cash or check only. 

Tickets are $10 for adults, $5 for Seniors and children 12 and under.

The Blue Cloud is open Mon – Thurs from 11 to 7, Fri & Sat from 10 to 6, and Sun from 11 to 6.

Somerville Illuminations Bike Tour

This year the Somerville Bike Committee is holding a bike tour of the Illuminations route.  The tour leaves from City Hall concourse at 7:15 pm on December 18th.  Participants must wear bike helmets and have bicycle lights.  There is no charge to participate.

The bicycle ride will be canceled in the case of heavy wind, rain or snow.  The Illuminations Tour by trolley will be held even if there is rain or light snow and typically is only cancelled if there is a snow emergency.

Whether you’re traveling by bike or trolley be sure to bundle up – and enjoy the ride!

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Somerville MA Home Sales – October 2010

Welcome to the Somerville MA Real Estate Report

Welcome to the Somerville MA Real Estate Report

Here’s the last of our monthly real estate reports for October with a quick look at Somerville MA home sales in October 2010.

Somerville MA Homes on the Market 

235 homes were listed for sale in Somerville in the Multiple Listing Service (the MLS) on October 31, 2010 for asking prices between $149,000 and $1,600,000.  Average days on market for these properties was 123 days. 

Inventory is actually down from this time last year in Somerville MA when 246 residential properties were on the market.

Somerville MA Home Sales in October 2010

30 homes sold in Somerville in October. The median sales price was $374,250.  Sales were down significantly from last year when 48 properties sold in October. 

7  single family houses sold in Somerville in October for sale prices between $242,000 and $725,000.  The median sales price was $345,000.  On average, single family houses sold for 99% of the list price and were on the market 72 days.

18 condos sold in Somerville MA last month for prices from $176,000 to $633,500.  Average days on market for these condominiums was 72. The median condo sales price was $357,500.  On average, condos sold for 96% of the asking price.

5 multi-family properties sold during October for prices from $465,000 to $769,000. The median sales price was $568,000. On average, multi-families sold for 98% of the asking price and average days on market was 48.

Total value of Somerville MA home sales in October 2010 was $12,070,500.

 

See also:

Somerville Properties Sold in September 2010

  

somerville-ma-real-estate

 

Info about Somerville MA home sales in October 2010 from MLSpin

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Somerville Properties Sold In September 2010

Welcome to the Somerville Real Estate Report

Welcome to the Somerville Real Estate Report

Last but not least here’s the final monthly real estate report – for this month! – with a quick look at Somerville properties sold in September 2010.

Somerville Real Estate on the Market 

249 residential properties were listed for sale in Somerville in the MLS on September 30, 2010 for asking prices between $149,900 and $1,600,000.  Average days on market for these properties was 113.  Unlike some of the other towns we’ve looked, at inventory is largely unchanged in Somerville. Last year at this time there were 243 properties listed for sale in the MLS.

Somerville Properties Sold – September 2010

52 residential properties sold in Somerville during September with a median sales price of $471,500. 

11 Somerville single family homes sold in September for prices between $175,000 and $1,001,000.  The median sales price was $475,000.  On average, single family houses sold for 97% of asking price and were on the market 89 days.

29 condos sold in Somerville last month for prices from $155,000 to $775,000.  These condominiums were on the market an average of 115 days. The median condo sales price was $419,000.  On average, condos sold for 98% of the list price.

12 multi-family houses sold during September for prices from $295,000 to $801,225. The median sales price was $526,450. On average, multi-families sold for 98% of the asking price and were on the market 40 days.

Total value of Somerville  properties sold in September 2010 was $24,484,525.

 

See also:

Somerville Home Sale Report – August 2010

  

somerville-ma-real-estate

 

Info about Somerville properties sold in September 2010 from MLSpin

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Somerville Home Sale Report – August 2010

Welcome to the Somerville Real Estate Report

Welcome to the Somerville Real Estate Report

Here’s the last of the monthly real estate reports with a quick look at Somerville home sale activity in August 2010.

Somerville Real Estate on the Market 

230 residential properties were listed for sale in Somerville in the MLS on August 31, 2010 for asking prices between $74,900 and $1,600,000.  Average days on market for these properties was 124. 

Somerville Home Sale Activity- August 2010

62 residential properties sold in Somerville in August with a median sales price of $403,250. 

6 Somerville single family houses sold in August for prices between $287,100 and $815,000.  The median sales price was $464,500.  On average, houses sold for 98% of asking price. 

43 condos sold in Somerville last month for prices from $163,500 to $750,000.  These condominiums were on the market an average of 70 days. The median condo sales price was $380,000.  On average, condos sold for 98% of the asking price.

13 multi-family houses sold during August for prices from $330,000 to $705,000. The median sales price was $525,000. On average, multi-families sold for 97% of the list price and were on the market 86 days.

Total value of Somerville  home sales in August 2010 was $25,710,808.

 

See also:

Somerville Real Estate Sales – July 2010

  

somerville-ma-real-estate

 

Info about Somerville home sale activity in August 2010 from MLSpin

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Somerville Real Estate Sales – July 2010

Welcome to the Somerville Real Estate Report

Welcome to the Somerville Real Estate Report

Here’s the last of the monthly real estate reports with a quick look at Somerville real estate sales in July 2010.

Somerville Real Estate on the Market 

253 residential properties were listed for sale in Somerville in the MLS on July 31, 2010 for asking prices between $118,500 and $1,600,000.  Average days on market for these properties was 112. 

Somerville Real Estate Sales – July 2010

55 residential properties sold in Somerville in July with a median sales price of $449,900.  That’s  a third fewer properties than sold in July of last year.  The number of properties on the market at the end of the month, though, is unchanged from last year.  Many agents feel that if there were more properties available on the market there would be more sales.  We’re all working with buyers who haven’t been able to find what they want and would buy if they did.

7 Somerville single family houses sold in July for prices between $239,000 and $800,000.  The median sales price was $311,000.  On average, houses sold for 98% of asking price. 

29 condos sold in Somerville last month for prices from $155,000 to $760,000.  These condominiums were on the market an average of 69 days. The median condo sales price was $345,200.  On average, condos sold for 97% of the asking price.

19 multi-family houses sold during July for prices from $274,000 to $779,000. The median sales price was $595,000. On average, multi-families sold for 98% of the list price and were on the market 62 days.

Total value of Somerville real estate sales in July 2010 was $24,868,500.

 

See also:

Somerville Homes Sold in June 2010

  

somerville-ma-real-estate

 

Info about Somerville real estate sales in July 2010 from MLSpin

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