Real Estate

Somerville Home Sales Dipped in November

Sale prices remained high, with single-family homes selling for almost $100,000 more through November of 2013 than through November of 2012.

Chris Orchard's profile picture
Chris Orchard, Patch StaffVerified Patch Staff Badge

Fewer homes sold in Somerville in November of 2013 than in November of 2012, according to figures released Monday by The Warren Group, publisher of Banker & Tradesman.

Sale prices of homes, however, remained higher in through November when compared to the previous year.

According to the figures, 34 single-family homes and condos sold in Somerville in November, compared to 39 in November of 2013.

From January through November, 482 homes sold in Somerville, compared to 525 during the first 11 months of 2012—an 8.2 percent decline.

That said, homes continued to sell for more money through November of this year—the median sale price for single-family homes was nearly $100,000 more in the first 11 months of 2013 than during the same time period in 2012.

Here are the median sale prices for condos and single-family homes, through November, in 2012 and 2013:

  • Single-family home, 2012: $442,000
  • Single-family home, 2013: $540,000
  • Condo, 2012: $380,000
  • Condo, 2013: $409,000
It should be noted that single-family homes and condos represent about about 45.7 percent of Somerville's housing stock, according to a November 2013 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 49.9 percent of the housing stock.

Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.

We’ve removed the ability to reply as we work to make improvements. Learn more here

More from Somerville