Somerville Saw Strong Home Sales in November

Home sales were up 72 percent in November of 2012 compared to November of the previous year, according to numbers released in late December by The Warren Group, publisher of Banker & Tradesman.

In particular, single family homes—a rare commodity in Somerville—saw an increase in sales. Eight single-family homes sold in November of 2012. None sold in November of 2011.

A total of 43 single-family homes and condos sold in November of 2012, compared to the 25 homes, all condos, that sold the previous November.

On the year through November, home sales for 2012 were up 33 percent from the first 11 months of 2011. In 2012, 527 single-family homes and condos sold in Somerville through November. That number was 395 in 2011.

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 represent about 50.7 percent of the housing stock.

Across the state, November of 2012 was the best month for single-family home sales since 2005, according to The Warren Group, and it was the 11th straight months of gains in single-family home sales.

Condo sales also increased across the state in November, the business research firm said.

Sales numbers for December of 2012 are expected at the end of this month.