Somerville Summary: Condo inventory was down by 14% for January. ~ Listing $ volume was down 1.4% from 34 million to 33 in. ~ The median list price was flat increasing by 1.4% with the active days on market showing more demand dropping from over 4 months to three. ~ Condos going under agreement increased by 48%.~ Condos sold for the month were up 7%. ~
Somerville condo sold $ volume for the month was flat up only $1,300 from January last. ~ Sold average days on market did not change at 3.7 months on average. The original price to sale price ratio dropped by 2% to 91% of the original list price. ~ The average square foot price dropped to $303 per square foot from $325 with the average condo size of 1,298 square feet compared to 1,243 square feet.