Somerville

Somerville Condo Trends for November

Somerville Summary: November condo inventory remains at record lows, less 46% from a year ago.. ~ Listing $ volume mirrored this down 47% from $47 million to $25 million in value. ~ The median list price decreased by a modest 4% with the active days on market around 2 months. ~ Condos going under agreement improved by 13% from a year ago.

Condos sold for the month were up a solid 43% with the year to date sales up 27%. ~ Somerville condo sold $ volume YTD is up 30% from the end of November last year. ~ Sold average days on market was less than 2 months and the median price slid by 10%. The original price to sale price ratio remained high at 97% of the original list price due to competitive bidding. ~ The average square foot price was $335 per square foot with the average condo living area at 1,183 square feet.

Somerville Condo Trends – October 2012

Somerville Summary: September condo inventory remains at record lows, down 51% from a year ago. ~ Listing $ volume down 55% from $55 million to $25 million in value. ~ The median list price decreased by a modest 5% with the active days on market dropping 30 days to under 2 months. ~ Condos going under agreement improved by 58%.

 

Condos sold for the month were down 11% with the year to date sales up 25%. ~ Somerville condo sold $ volume YTD is up 32% from the end of October last year. ~ Sold average days on market was less than 2 months and the median price slid by 4%. The original price to sale price ratio remained at 98% of the original list price due to competitive bidding. ~ The average square foot price was $356 per square foot with the average condo living area at 1,048 square feet.

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.

Somerville Condo Trends – July 2012

Somerville Summary: July condo inventory maintains record lows, down 48% from last July which was less than special. ~ Listing $ volume was down 49% from $55 million to $28 million in value. ~ The median list price stayed very close to the same with the active days on market dropping a couple of weeks to under 3 months. ~ Condos going under agreement decreased by 22%.

Condos sold for the month exceeded last July by 20% with the year to date sales up 35%. ~ Somerville condo sold $ volume YTD is up 26% from the end of July last year. ~ Sold average days on market dropped to less than 60 days. 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 by $27 to $356 per square foot with the average condo living area at 1,208 square feet.

Somerville Condo Trends – June 2012

Somerville Condo Trends June 2012

Somerville Summary: June condo inventory reached a new low down 42%. ~ Listing $ volume was down 38% from $66 million to $40 million. ~ The median list price went up a little over $10K with the active days on market loosing 8 more days. ~ Condos going under agreement increased by 8%.

Condo Sales Chart June 2012

Condos sold for the month exceeded last June by 17% with the year to date sales up 27%. ~ Somerville condo sold $ volume YTD is up 28.7% from the end of June last year. ~ Sold average days on market dropped by over 2 weeks to 48 days. The original price to sale price ratio increased to 99% of the original list price due to competitive bidding. ~ The average square foot price increased by $37 to $357 per square foot with the average condo living area at 1,294 square feet.

Somerville Condo Trends – May 2012

Somerville Summary: May condo inventory remains quite low down by -40%. ~ Listing $ volume was down 27 million from $68.5 million to $40.7million. ~ The median list price went up $10,000 with the active days on market shortening by 11 days to 2 months. ~ Condos going under agreement increased by 39%. Condos sold for May soared by 53%% with year to date sales up 30%.

Somerville condo sold $ volume YTD is up $19 million  or 32%.~ Sold average days on market increased a modest 8 days. The original price to sale price ratio increased to 98% of the original list price. ~ The average square foot price decreased modestly by $4 to $340 per square foot with the average condo size at 1,221 square feet.

Somerville Condo Trends – April 2012

Somerville Summary: April condo inventory remained down by -24%. ~ Listing $ volume was down 15 million from $54.6 million to $69.7million. ~ The median list price went up 7.5% with the active days on market sliding below 2 months. ~ Condos going under agreement increased by 36%. Condos sold for the month exceeded last April by 10% with the year to date sales up 16%. ~

Somerville condo sold $ volume YTD is up 21.9% from the end of April last year. ~ Sold average days on market dropped by over 3 weeks to 85 days. The original price to sale price ratio increased to 96% of the original list price. ~ The average square foot price increased by $37 to $357 per square foot with the average condo size at 1,294 square feet.

 

Somerville Condo Trends – March, 2011

March condo inventory was down 11%. ~ Listing $ volume is basically even – down only 57K from $50,593 million to $50,535 million. ~ The median list price went up 6% with the active days on market dropping through demand to just over 2 months. ~ Condos going under agreement increased by 23%.

Condos sold for the month exceeded last March by one sale with the year to date sales up 18%. ~ Somerville condo sold $ volume YTD is up 20% from the end of March last year. ~ Sold average days on market shrunk by 50% on average to less than 2 months. The original price to sale price ratio increased by 3% to 96% of the original list price. ~ The average square foot price was increased by $46 to $358 per square foot with the average condo size remaining about the same at 1,086 square feet.

Cambridge Condo Trends – January 2012

Cambridge Summary: We are off to a rough start with Inventory for January remain quite low, less 48% compared to the same period last year. ~ Condo listing $ volume is down 42% from 84 million to 48.5 million in value. Very little improvement from December. ~ The median list price rose by 9%with properties selling at about the same rate, taking an average of 4.5 months to either go U/A or off market. ~ The number of condos that went under agreement was down by 15. Cambridge condo sales dropped 13%.

 

 

Sold $ volume was down 32% from 17 to 12 million. ~ The median sale price dropped 8% with the ratio of sale price to original price reflecting the limited inventory at 97%. ~ The average square foot price for January was $433 per square foot with the average living area at 1,045 sf compared to $501 per square foot with an average unit size of 1,088 square feet in 2011.

 

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.