Somerville Condo Trends – March 2013

Somerville Condos 3-13Somerville Summary: March condo inventory remains at record lows, down 51% from a year ago. ~ Listing market value was down by 48% from 48 million to over 48 million in listing value. ~ The median list price increased by 7% with the active days on market shrinking 45% or by 29 days. ~ Condos going under agreement were down 6% from a year ago.

somerville condo trends

The number of condos sold in March was down by 30%, which resulted in a 13% decrease in year to date sales. ~

Somerville sold condo market value was up 13% 9 million to 10+ million in sales. ~ The median sales price was up 13% at $492,000. ~ Days on market increased 43%to over a month. The original price to sale price ratio was at 98% of original list price due to competitive bidding. ~ The average square foot price $382, up 8% per square foot with the living area increasing by 211 square feet.

Leave a Comment