Somerville Condo Trends – September 2012

Somerville Summary: September condo inventory remains at record lows, down 51% from a year ago.. ~ Listing $ volume was down 50% from $57 million to $28 million in value. ~ The median list price improved by a modest 4% with the active days on market dropping 23 days to under 2 months. ~ Condos going under agreement were down considerably by 94%.

Condos sold for the month were up 33% with the year to date sales up 27%. ~ Somerville condo sold $ volume YTD is up 32% from the end of September last year. ~ Sold average days on market was less than 2 months and the median price rose by 16%. 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 $389 per square foot with the average condo living area at 1,144 square feet.

Leave a Comment