Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Single Family Listing Inventory on October 28
2016
2017
2018
2019
2020
Listing Units
10
8
12
10
23
Average Days on Market
82
21
60
75
44
Average List Price
$1,046,770.00
$727,212.25
$1,129,625.00
$1,068,490.00
$1,049,156.43
Average List $ / SqFt
$443.04
$444.18
$530.57
$501.93
$576.73
Approximate Absorption Rate
65.83%
92.71%
61.11%
69.17%
27.90%
Approximate Months Supply of Inventory
1.52
1.08
1.64
1.45
3.58
Listed (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Taken)
103
105
118
97
115
Average Original List Price
$888,583.98
$786,506.63
$966,996.58
$1,023,307.20
$998,673.83
Average Original List $ / SqFt
$453.92
$468.38
$500.17
$537.49
$549.93
Went Pending (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Went Pending)
91
91
90
74
80
Average List Price
$856,016.49
$795,248.07
$880,612.51
$956,258.09
$953,273.64
Average List $ / SqFt
$447.29
$471.21
$480.96
$512.49
$537.31
Average Days to Offer
26
19
24
23
20
Listed & Price Changed (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Price Changed)
29
18
31
31
22
Average Original List Price
$953,584.48
$849,419.33
$1,030,174.16
$997,354.81
$1,050,804.50
Average Original List $ / SqFt
$453.32
$518.64
$499.99
$550.81
$575.81
Sold (Year to Date)
2016
2017
2018
2019
2020
Closed Units (Sold)
66
67
72
64
64
Average Days on Market
53
32
33
30
26
Average Days to Offer
27
22
20
23
20
Average Sale Price
$807,240.91
$785,032.31
$906,379.29
$992,273.44
$1,007,850.52
Average Sale $ / SqFt
$455.62
$470.09
$498.10
$541.53
$585.74
Average List Price
$791,875.77
$761,661.18
$868,021.21
$958,349.98
$952,334.23
Average List $ / SqFt
$444.34
$454.96
$477.28
$521.73
$551.68
Average Original List Price
$802,931.82
$775,629.82
$880,352.76
$978,754.69
$966,992.08
Average Original List $ / SqFt
$450.90
$463.08
$484.40
$532.36
$559.38
Average Sale Price as % of List Price
102.54%
103.32%
104.14%
103.88%
105.66%
Average Sale Price as % of Original List Price
101.17%
101.73%
102.79%
102.07%
104.36%
Average Sale Price as % of Assessed Price
187.02%
N/A
1,546.14%
166.90%
125.19%
Sold Units - Short Sale
1
0
0
0
0
Sold Units - Lender-Owned
0
2
0
0
0
12-Month Activity as of October 28
2016
2017
2018
2019
2020
Units Listed
123
115
129
112
118
Units Price Changed
41
22
32
34
23
Units Went Pending
103
101
99
87
84
Units Sold
79
89
88
83
77
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF
Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Condominium Listing Inventory on October 28
2016
2017
2018
2019
2020
Listing Units
77
47
98
109
141
Average Days on Market
45
47
56
75
59
Average List Price
$734,267.09
$871,948.91
$859,713.79
$839,878.30
$783,528.36
Average List $ / SqFt
$550.42
$570.75
$639.94
$632.18
$652.29
Approximate Absorption Rate
51.52%
84.22%
41.50%
40.67%
26.18%
Approximate Months Supply of Inventory
1.94
1.19
2.41
2.46
3.82
Listed (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Taken)
534
532
565
601
591
Average Original List Price
$661,697.24
$724,016.49
$788,909.61
$801,156.27
$819,210.95
Average Original List $ / SqFt
$521.35
$575.73
$614.19
$630.53
$638.50
Went Pending (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Went Pending)
438
458
440
494
402
Average List Price
$620,229.62
$688,486.18
$756,915.15
$783,383.53
$810,246.47
Average List $ / SqFt
$507.73
$568.28
$602.01
$629.65
$621.77
Average Days to Offer
19
21
21
35
30
Listed & Price Changed (Year to Date)
2016
2017
2018
2019
2020
Listing Units (Price Changed)
108
99
142
157
146
Average Original List Price
$751,806.94
$802,267.79
$835,311.93
$815,814.85
$809,564.29
Average Original List $ / SqFt
$524.32
$585.76
$614.14
$625.48
$654.50
Sold (Year to Date)
2016
2017
2018
2019
2020
Closed Units (Sold)
405
386
404
441
345
Average Days on Market
36
33
32
46
46
Average Days to Offer
18
21
22
34
33
Average Sale Price
$633,964.33
$696,126.21
$779,019.20
$787,317.00
$819,332.58
Average Sale $ / SqFt
$527.24
$565.25
$628.44
$647.94
$616.16
Average List Price
$613,721.91
$673,697.29
$757,518.45
$780,530.56
$813,061.64
Average List $ / SqFt
$507.04
$543.65
$608.05
$639.88
$609.87
Average Original List Price
$629,226.36
$680,537.45
$766,883.05
$791,891.86
$823,413.83
Average Original List $ / SqFt
$527.27
$548.94
$615.09
$648.28
$617.69
Average Sale Price as % of List Price
104.15%
104.05%
103.36%
101.27%
101.06%
Average Sale Price as % of Original List Price
103.50%
103.15%
102.24%
100%
99.85%
Average Sale Price as % of Assessed Price
N/A
N/A
N/A
N/A
N/A
Sold Units - Short Sale
0
0
0
0
0
Sold Units - Lender-Owned
3
0
0
0
1
12-Month Activity as of October 28
2016
2017
2018
2019
2020
Units Listed
598
588
611
698
635
Units Price Changed
122
111
151
191
152
Units Went Pending
511
525
495
559
477
Units Sold
476
475
488
532
443
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF
Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Single Family
Solds / Year
2016
2017
2018
2019
2020
List Price
$791,875.77
$761,661.18
$868,021.21
$958,349.98
$952,334.23
Original List Price
$802,931.82
$775,629.82
$880,352.76
$978,754.69
$966,992.08
Sale Price
$807,240.91
$785,032.31
$906,379.29
$992,273.44
$1,007,850.52
Solds / Year
2016
2017
2018
2019
2020
List $ / SqFt
$444.34
$454.96
$477.28
$521.73
$551.68
Orig. List $ / SqFt
$450.90
$463.08
$484.40
$532.36
$559.38
Sale $ / SqFt
$455.62
$470.09
$498.10
$541.53
$585.74
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF
Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Single Family
Solds / Year
2016
2017
2018
2019
2020
Days on Market
53
32
33
30
26
Days to Offer
27
22
20
23
20
Category / Year
2016
2017
2018
2019
2020
Units Sold
66
67
72
64
64
Units Price Changed
29
18
31
31
22
103
105
118
97
115
91
91
90
74
80
2016
2017
2018
2019
2020
123
115
129
112
118
Units Price Changed
41
22
32
34
23
Units Sold
79
89
88
83
77
103
101
99
87
84
Units Taken Units Went Pending
Category / Year Units Listed
Units Went Pending
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF
Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Condominium
Solds / Year
2016
2017
2018
2019
2020
List Price
$613,721.91
$673,697.29
$757,518.45
$780,530.56
$813,061.64
Original List Price
$629,226.36
$680,537.45
$766,883.05
$791,891.86
$823,413.83
Sale Price
$633,964.33
$696,126.21
$779,019.20
$787,317.00
$819,332.58
Solds / Year
2016
2017
2018
2019
2020
List $ / SqFt
$507.04
$543.65
$608.05
$639.88
$609.87
Orig. List $ / SqFt
$527.27
$548.94
$615.09
$648.28
$617.69
Sale $ / SqFt
$527.24
$565.25
$628.44
$647.94
$616.16
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF
Somerville, MA Area Market Review 2016 - 2020 As of October 28, 2020 Prepared by Colleen Barry on Wednesday, October 28, 2020
Condominium
Solds / Year
2016
2017
2018
2019
2020
Days on Market
36
33
32
46
46
Days to Offer
18
21
22
34
33
Category / Year
2016
2017
2018
2019
2020
Units Sold
405
386
404
441
345
Units Price Changed
108
99
142
157
146
Units Taken
534
532
565
601
591
Units Went Pending
438
458
440
494
402
2016
2017
2018
2019
2020
Units Listed
Category / Year
598
588
611
698
635
Units Price Changed
122
111
151
191
152
Units Sold
476
475
488
532
443
Units Went Pending
511
525
495
559
477
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF