Somerville Summary: May condo inventory remains quite low down by -40%. ~ Listing $ volume was down 27 million from $68.5 million to $40.7million. ~ The median list price went up $10,000 with the active days on market shortening by 11 days to 2 months. ~ Condos going under agreement increased by 39%. Condos sold for May soared by 53%% with year to date sales up 30%.
Somerville condo sold $ volume YTD is up $19 million or 32%.~ Sold average days on market increased a modest 8 days. The original price to sale price ratio increased to 98% of the original list price. ~ The average square foot price decreased modestly by $4 to $340 per square foot with the average condo size at 1,221 square feet.