Somerville Home Sales Dipped Slightly in August

As home sales surged across the state in August, Somerville saw a sluggish month of sales.

Home sales in Somerville were slightly down in August compared to August of 2011, according to figures released Tuesday by The Warren Group, publisher of Banker & Tradesman.

A total of 59 condos and single-family homes sold in Somerville in August, compared to 64 that sold in August of 2011, according to the figures. That represents a 7.8 percent decline.

The trend in Somerville for most of 2012 has been increasing home sales, and on the year through August home sales were 38 percent higher than they were through August of 2011: In the first eight months of this year 410 condos and single-family homes sold, which compares to 297 sold in the first eight months of 2011, according to The Warren Group.

It's worth noting 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, according to numbers from a 2011 tax assessors report.

Somerville's sluggish August comes as statewide home sales saw their seventh month of increases compared to 2011. Across the state in August, 7550 single-family homes and condos sold in Massachusetts compared to 5998 in 2011.


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