Paul’s Somerville Condo Trends – August 2013

Somerville Condo TrendsSomerville Summary: August condo inventory remains low, down 17% from a year ago. ~ Listing market $ value was down 13% from $25 million in 2012 to $22 million. ~ The median list price rose 10% with the active days on market at 56 days on average. ~ Condos going under agreement were up 23% compared to a year ago.

Somerville Sales Chart 9/13

The number of condos sold in August were up 20% from a year ago resulting in a 5% loss in year to date sales. ~ Somerville sold condo market $ value YTD was up 4% to $140 million from $134 million in 2012. ~ The median sales price rose 11%. ~ Days on market remained less than a month on average. The original price to sale price ratio was 103% of original list price due to competitive bidding. ~ The average square foot price of $366 was down 2% per square foot with the living area about the same.


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