Somerville Home Sales Steady Through October

Home values remained high.

Somerville home sales remained steady in October, and home values continued to be high, according to recently released figures from The Warren Group, publisher of Banker & Tradesman.

According to the figures, 37 single-family homes and condos sold in October this year, compared to 36 in October of 2012.

It was the third straight month Somerville saw an increase in home sales compared to 2012. Other than in April, August, September and October, home sales in Somerville declined every month this year.

On the year, home sales remained down. Through October, 448 single-family homes and condos sold in Somerville, compared to 486 though October of 2012. That's a 7.8 percent decline, driven by lower sales during the first half of the year.

Home values remained high through October. Here are the median sale prices for condos and single-family homes, through October, in 2012 and 2013:

  • Single-family home, 2012: $450,000
  • Single-family home, 2013: $539,000
  • Condo, 2012: $382,500
  • Condo, 2013: $405,000

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.


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