Somerville Condo Trends

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.

Somerville Condo Trends Year End 12/11

Somerville Summary: Condo inventory was down by 3% over last December. ~ Listing $ volume, however was up by 5.8% from 34 million to 36 in 2011. ~ The median list price shows an increase of 7.6% with the active days on market showing more demand by improving to 96 days from 122 days in 2010 ~ Condos going under agreement increased by 12% and the $ volume is up a modest 1.3%. ~ Condos sold for the month dropped 27% with YTD showing a loss of 7% compared to 2010. ~

Somerville condo sold $ volume for the month decreased sharply by 40%, YTD dropped 3.7% from 141 million in 2010 to 136 million for 2011. ~ Sold average days on market increased improved by 23 days. The original price to sale price ratio dropped by 2% to 90% of the original list price. ~ The average square foot price dropped to $296 per square foot from $320 with the average condo size of 1,270 square feet shrinking to 1,105 square feet.

Cambridge Condo Trends – November 2011

Cambridge Summary: Inventory for November remained down by 39% compared to the same period last year. ~ Condo listing $ volume is considerably down by 41.5% from 123 million to 73 million. ~ The median list price was the same with properties selling

Sold $ volume for the month was up 15.5%, YTD sold $ volume up 6.2% over last year. ~ The median sale price improved by only 1% with the ratio of sale price to original price up by 2% in comparison. ~ The average square foot price for Novemebr was up by $89 to $529 per square foot with the average living area at 1,137 sf, 112 less square feet than  in 2010.

Somerville Condo Trends – November 2011

Somerville Summary: Condo inventory edged up by 3% over last Novemeber. ~ Listing $ volume is up by 2.3% from 46 million to 47 million. ~ The median list price shows an increase of 7% with the active days on market showing more demand by improving to 85 days from 113 in 2010 ~ Condos going under agreement increased by 22% and the $ volume is up 11.8%. ~ Condos sold for the month were up 21% with YTD moving up by 5%.

 Somerville condo sold $ volume for the month increased by 27%,  whereas YTD dropped 1.2% from 132 million in 2010 to 131 million this past November. ~ Sold average days on market increased by 8% . The original price to sale price ratio tightened a point to 95%. ~ The average square foot price rose to $431 per square foot for November with the average condo size also increasing 38 square feet to of 1,304 square feet.

Cambridge Condo Trends – September 2011

Cambridge Summary: Inventory for September dropped 38% compared to the same period last year. ~ Condo listing $ volume  is down considerably by over 41% from 166 million to 97 million. ~ The median list price fell slightly by $3,550  with properties selling faster at 87 days on average. ~ Condos going under agreement for the month increased by 27%. ~ Sales for the month increased more than 23%. ~ Year to date by +4% or 21 more condos than in September last year.

Cambridge condo sold $ volume was up over 35% almost 10 million from 18 million in 2010 to 28 million this past September.  YTD sold $ volume is up 4.73% over last year. ~ The median sale price improved by 9% with the ratio of sale price to original price the same at 95%. ~ The average square foot price for September was $512 per square foot with the average living area of 1,166 sf.