Somerville Condo Trends – August 2012

Somerville Summary: August condo inventory maintains at record lows, down 47% from last August.. ~ Listing $ volume was down 44% from $46 million to $25 million in value. ~ The median list price improved by a modest 4% with the active days on market dropping 19 days to just over 2 months. ~ Condos going under agreement were down by 29% or 9 units. Condos sold for the month were down 15% with the year to date sales up 27% from the end of last year.





Somerville condo sold $ volume YTD is up 27% from the end of August last year. ~ Sold average days on market was less than 2 months. The original price to sale price ratio increased to 98% of the original list price due to competitive bidding. ~ The average square foot price increased to $371 per square foot with the average condo living area at 1,077 square feet.

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