Somerville Massachusetts Real Estate Sales 2011 over 2010

Sometimes it is useful to compare this years market to last years market.  As the year draws to an end, I always like to compile the year to date statistics for  the markets in which I work.  I concentrate my practice on Somerville Massachusetts, Cambridge Massachusetts, and Medford Massachusetts.  There is more to any market story than the the total number of sales, or the average sales price.  It is also important to consider the average days on market, as well as the absorption rate. These statistics were compiled at the end of last week, and are gleaned from the MLS, which is deemed to be accurate, although not guaranteed.

Somerville Massachusetts as of December 9th 2011
                              

                                 2010                 2011

Single Family Sales 75                     57

Average Days On Market 67                86
    Average Sales Price $460,000          $473,000

Condominium Sales 354               335

Average Days On Market 81                87
    Average Sales Price $  $376,000        $395,000

Multi Family Sales       137                       146

Average Days On Market 72                 79
  Average Sales Price$ $514,000         $526,000

In Somerville Massachusetts, so far this year, prices are rising while total sales are down.  Days on market are up, and the absorption rate is slowing.

If you know someone who is thinking of moving to Somerville MA or selling a home in Somerville Massachusetts, please give me a call.  It would be my pleasure to assist you and those whom you care about, whether buying, selling, or renting, my promise to you is complete service and satisfaction.

Erik Hook
http://www.ErikHook.com
Century 21 Commonwealth
205 Holland Street
Somerville MA 02144
c. 617-461-4691
o. 617-666-2121 x189
f.  617-440-1553
e. erik.hook@century21.com