Thursday, May 30, 2013
Also, sale prices continued to rise compared to 2012.
After a slow winter, Somerville saw a surge in home sales in April. According to figures from The Warren Group, publisher of Banker & Tradesman, 45 condos and single-family homes sold in Somerville in April, compared to 31 in April of 2012. That's a 45 percent increase. On the year, however, home sales are slightly down in Somerville compared to 2012. in 2013, 101 condos and single-family homes sold through April, compared to 116 during the same period in 2012. Sale prices were up, however. Through April, the median sale price of a single-family home in Somerville was $529,500 in 2013, compared to $360,000 during the same period in 2012. As for condos, in 2013, through April, the median sale price was $413,000. That compares to $382,500 in…
Wednesday, May 15, 2013
In Somerville and across the state, foreclosures were down in the first quarter of 2013.
There were no completed foreclosures in Somerville during March, according to figures released this week by The Warren Group, publisher of Banker & Tradesman. In March of 2012, there were five completed foreclosures. In fact, through March there were two foreclosures in Somerville this year. That compares to eight foreclosures in the first three months of 2012. Foreclosure petitions, the first stage of the foreclosure process, were also down slightly in the first three months of 2013, at nine. Through March of 2012 there were 12 foreclosure petitions. Across the state, there's been "a significant decline" in foreclosures, "indicating the foreclosure crisis is over," The Warren Group wrote in an announcement about this week's figures. There…
Thursday, April 4, 2013
The numbers reflect a state trend.
Foreclosure activity in Somerville was low through February, according to recent figures from The Warren Group, publisher of Banker & Tradesman. According to the real estate and business research firm, there were no completed foreclosures in Somerville in February, and only two in 2013 through that month. In 2012 there were three completed foreclosures through February. When it comes to foreclosure petitions, which mark the first phase of the foreclosure process, there were two this February, compared to five during that month in 2012. On the year, eight properties entered the foreclosure process through February, compared to 10 during the first two months of 2012. Across the state, foreclosure petitions were down by 38 percent and …
Thursday, March 28, 2013
Is the decline a matter of supply or demand?
Annual home sales remained down in Somerville through February, according to recent figures from The Warren Group, publisher of Banker & Tradesman. According to the figures, 34 condos and single-family homes sold in January and February of this year, compared to 51 in the first two months of 2012. That's a 33 percent decline. Although the number of home sales was down, the costs of homes in Somerville was up compared to last year. The median sale price for condos in Somerville, through February, was $375,000, compared to $373,500 during the same period in 2012. There was a real jump in the price of single-family homes, however, from a median sale price of $319,500 in January and February of 2012 to $519,500 in the first two months of this…
Thursday, March 7, 2013
Meanwhile, foreclosure rates across the state dropped.
As home foreclosure rates dropped across the state, according to The Warren Group, publisher of Banker & Tradesman, foreclosure activity in Somerville actually increased in January as compared to January of 2012. But we're talking about small numbers. According to the business and real estate research firm, there were two completed foreclosures—called foreclosure deeds—in Somerville in January, compared to none the previous January. When it comes to foreclosure petitions, which mark the first step in the foreclosure process, there were six this January compared to five in January of 2012. Throughout 2012, there were 22 completed foreclosures in Somerville—a rate of about 1.8 per month. That was down 42 percent from 2011, which saw 38 …
Wednesday, February 27, 2013
Across the state and in nearby communities, home sales rose or remained steady.
Coming off a year in which Somerville saw a 35 percent increase in home sales compared to the previous year, home sales in January slowed down a bit. In January 15 single-family homes and condos sold in Somerville, compared to 22 in January of 2012, according to figures from The Warren Group, publisher of Banker & Tradesman. That's a 31 percent decline. Across the state, January home sales were up 7 percent, from 3,442 in 2012 to 3,686 this year. In regard to single-family homes, January saw the highest number of sales since 2007, according to The Warren Group. Nearby, Cambridge saw a slight increase in home sales, from 43 in January of 2012 to 46 this January. Medford saw 27 home sales in January of 2012—again, we're talking about single-…
Wednesday, January 30, 2013
More homes sold, and they sold for more money in 2012 than in 2011.
Measured in terms of volume and sale prices, 2012 was a strong year for home sales in Somerville, according to figures from The Warren Group, publisher of Banker & Tradesman, which tracks real estate trends. The sale of condos and single-family homes in Somerville increased by 35 percent in 2012 compared to 2011. On top of that, both single-family homes and condos were selling for more money in 2012 than in 2011, according to median sale price figures for those years. In 2011, home sales were down in Somerville compared to the previous year. According to the recent figures from The Warren Group, 560 condos and single-family homes sold in Somerville in 2012, compared to 415 in 2011. The year ended strong in 2012, with 35 homes sold in …
Friday, January 4, 2013
Foreclosures remained down compared to 2011, according to The Warren Group.
Foreclosures in Somerville continued to be down through the month of November, according to recent figures from The Warren Group, publisher of Banker & Tradesman. Somerville saw two completed foreclosures in November of 2012, compared to six in November of 2011. On a year-over-year comparison, there were 21 completed foreclosures in Somerville through November of 2012, compared to 36 in the first 11 months of 2011. When it comes to foreclosure petitions, which represent the first steps in the foreclosure process, there were three petitions in November of 2012 compared to eight in November of 2011. On the year, however, foreclosure petitions were fairly level: There were 54 through November of 2012 and 56 through November of 2011. Across …
Wednesday, January 2, 2013
Home sales were up in Somerville and across the state before the holiday season.
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 …
Wednesday, November 28, 2012
Heading into the fourth quarter of 2012, home sales on the year were up by about 31 percent.
As home sales across the state jumped in October, according to figures from The Warren Group, publisher of Banker & Tradesman, they remained steady in Somerville. A total of 37 single-family homes and condos sold in Somerville in October, compared to 36 in October of 2011, according to the figures. That said, home sales were up by around 31 percent for the year through October. A total of 486 single-family homes and condos sold through October of 2012. That compares to 370 in the first 10 months of 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 …
Matt C
10:05 am on Thursday, January 31, 2013
I think its at least as important to state that people really want to live in Somerville and are paying a premium to mover here. For current owners it iss a great opportunity for people to cash out. People that have lived in town for 20-30 years are getting 10x what they paid for their homes and people are itching to get into the city! more ›