Somerville Condo Trends For October 2011

Somerville Summary: Condo inventory in Somerville remains about the same as last October up only1.5%. ~ The median list price shows a modest increase of $8,876  with the active days on market showing more demand by improving to 87 days from 102 in 2010 ~ Condo listing volume or market value at the end of October barley  increased by only $390,486. ~ Condos going under agreement did increased by 23%. ~ Condos sold for the month went up 28% with the YTD number of condos sold falling behind by 8%. ~

Somerville condo sold $ volume went up by 34% from 6+ million in 2010 to over 9 million this past October.

YTD sold $ volume remains behind by nearly 4% compared to last year at the same time. ~ Sold average days on market remained the same at 72 days. The original price to sale price ratio tightened a point to 96%. ~ The average square foot price rose to $386 per square foot for October with the average condo size also increasing 86 square feet to of 1,174 square feet.