Tuesday, September 18, 2012
Foreclosure numbers remained relatively low in Somerville through July.
Somerville foreclosures were down in July when compared to July of 2011, according to figures released Monday by The Warren Group, publisher of Banker & Tradesman. There were 2 completed foreclosures in Somerville in July, according to the figures, compared to 4 in July of 2011. When it comes to foreclosure petitions, which represent the beginning of the foreclosure process, the numbers were also down. There were 3 foreclosure petitions in July, compared to 9 in July of 2012. On the year, through July, there have been 17 completed foreclosures, compared to 21 during the same period of 2011. One number was slightly up: On the year through July there were 33 foreclosure petitions, compared to 30 through July of 2011. Across the state, there …
Monday, March 19, 2012
Home single-family home values in Somerville are higher now than they were in 2005. Only nine other communities in Massachusetts can say that, the Boston Globe determined.
Somerville is one of only 10 communities in Massachusetts where single-family homes were higher in value in 2011 than they were before the Great Recession, according to analysis from the Boston Globe. The Globe, which used data provided by the Warren Group, publisher of Banker & Tradesman, lists the 10 communities where single-family homes have risen in value since 2005: The median price of a single-family home in Somerville in 2011 was $445,000, according to the Warren Group's figures, up 3.9 percent since 2005, when that number was $428,500. See the Globe's coverage here. (Note, the Globe headline says "Top 11" communities, but it only includes 10.)
Thursday, January 26, 2012
After a rough winter, Somerville home sales bounced back toward the end of the year, but overall the numbers were down.
Home sales in Somerville were down by about 11.4 percent in 2011 as compared to 2010. According to figures provided by the Warren Group, which publishes Banker & Tradesman, 473 single-family homes and condos sold in Somerville in 2011. That compares to 534 in 2010. The figures do not include sales of multi-family homes, which represent a major slice of the Somerville housing stock. According to figures from a Somerville Board of Assessors report, two- and three-family homes represent about 51 percent of the city's housing stock. Andrew Scannell, a real estate agent at Coldwell Banker who writes the weekly "Sold" column on Somerville Patch, said in an email that 163 multi-family homes sold in 2011, compared to 145 in 2010. Those numbers are…
Thursday, January 12, 2012
On the year, through November of 2011, both home sales and foreclosures were down in Somerville.
Somerville home sales were up slightly in November, which is the latest month for which figures are available. According to numbers from the Warren Group, which publishes Banker & Tradesman, 25 condos and single-family homes sold in Somerville in November of 2011, compared to 24 in November of 2010. More accurately, 25 condos sold in November of 2011; no single-family homes were sold. In November, 2010, 4 single-family homes and 20 condos sold. It should be noted that The Warren Group's figures don't include sales of two-family or three-family homes, which, are an important part of the Somerville real estate market. Together, two- and three-family homes represent about 51 percent of Somerville's housing stock, based on figures from a …
Tuesday, November 29, 2011
Though home sales are still down in 2011, sales seem to have rebounded a little.
Home sales in Somerville were up slightly in October, as compared to October, 2010. According to figures from the Warren Group, which publishes Banker & Tradesman, 36 condos and single-family homes sold in Somerville in October this year, up from 30 in October, 2010—a 20 percent increase. The Warren Group's figures do not include sales of two-family or three-family homes, which, together, represent about 51 percent of Somerville's housing stock, based on figures from a recent Somerville Board of Assessors report. On the year, through the end of October, home sales were down in Somerville by 15.47 percent, as compared to the same time period in 2010. Though down, it appears home sales have rebounded slightly over the past few months. …