Home Sales Sluggish in Somerville Through July Compared to 2012

Even as Massachusetts in July saw the highest volume of home sales since June of 2006, home sales in Somerville remained sluggish, according to figures released Thursday by The Warren Group, publisher of Banker & Tradesman.

In Somerville, 67 single-family homes and condos sold in July, compared to 81 in July of 2012—a 17 percent drop.

On the year though July, 283 homes have sold in Somerville, compared to 351 through July in 2012—a 19 percent decline.

The sale price of homes, however, remained higher in 2013 than in 2012.

Through July, the median price of a single-family home in Somerville was $512,000, compared to $449,000 during the first seven months of 2012.

For Somerville condos, those numbers were $400,500 and $386,000, respectively.

That said, it looks like Somerville sale prices took a slight dip in July.

In July of 2012, the median sale price of a single-family home was $505,000. In 2013, that number was $483,000. In June of this year, it was $522,500.

As for condos, the median sale price in July of 2012 was $388,000, and it was up slightly, to $397,000, in July of this year. However, the median price of a condo in June of this year was $401,500.

It should be noted that single-family homes and condos represent about about 44.7 percent of Somerville's housing stock, according to a November 2012 tax assessors report to the Somerville Board of Aldermen. Two- and three-family homes, which aren't represented in The Warren Group's figures, make up about 50.7 percent of the housing stock.