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Somerville Sees Sharp Rise in May Home Sales

Home sales are up nearly 70 percent on the year, through May, according to The Warren Group.

Somerville saw a significant increase in home sales in May.

According to  figures from The Warren Group, publisher of Banker & Tradesman, 64 condos and single-family homes sold in Somerville during May. That compares to just 24 that sold in May of 2011, a 167 percent increase.

On the year through May, 180 condos and  single-family homes sold in Somerville, compared to 109 during the same period of 2011—a 70 percent increase.

It's important to note the figures do not reflect the number of two- and three-family homes in Somerville, which, together, represent about 51 percent of the housing stock in the city, .

The increase in home sales in Somerville reflected what was happening across the state. According to an announcement from The Warren Group, home sales in May were at their highest levels since June, 2010.

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