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
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