Jul 29, 2014
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Somerville Home Sales Up Significantly Through June

Home sales bounced back to 2010 numbers in the first half of 2012, according to The Warren Group.

Somerville Home Sales Up Significantly Through June

Somerville Home sales were up considerably in the first half of 2012.

According to figures from  The Warren Group, publisher of  Banker & Tradesman, 270 condos and single-family homes sold in Somerville during the first six months of the year.

That's a 58.8 percent increase over the 170 condos and single-family homes that sold during the same period of 2011, according to the figures.

June was a strong month, with 92 condos and single-family homes selling, compared to 61 in June of 2011.

The first half of 2011 was particularly slow in Somerville, though home sales increased during the second half of that year. The numbers in 2012 more closely resemble those seen in 2010, during the first six months.

It's important to note the figures do not reflect the number of two- and three-family homes in Somerville, which, together, represent about 51 percent of the housing stock in the city, .

While home sales have increased, so have home prices.

The median sale price of a condo in Somerville, through June, was $383,000. That's an increase from $360,000 in 2011 and $345,000 in 2010.

Single-family homes also saw an increase in median sale price, which was $412,500 through June in 2012. That compares to $391,850 in 2011 and $383,000 in 2010.

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