Eric Raynor

Somerville, MA

Single-Family Homes

Real Estate Agent



Somerville, MA

Sun Dec 22 2024
This week the median list price for Somerville, MA is $1,250,000 with the market action index hovering around 53. This is an increase over last month's market action index of 45. Inventory has decreased to 10. Click here to stay informed with the Somerville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Somerville, MA

Sun Dec 22 2024
This week the median list price for Somerville, MA is $1,250,000 with the market action index hovering around 53. This is an increase over last month's market action index of 45. Inventory has decreased to 10. Click here to stay informed with the Somerville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

Market Narrative

Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $1,250,000
Median Price of New Listings $895,000
Per Square Foot $630
Average Days on Market 62
Median Days on Market 42
Price Decreased 30%
Price Increased 0%
Relisted 0%
Inventory 10
Median Rent
Market Action 53
Strong Seller's Market

Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$2,824,950 4,164 0 - 4,500 sqft 4 4.5 114 0 0 31
$2,174,950 3,138 6,500 - 8,000 sqft 4 4 62 0 1 38
$1,200,000 2,216 0 - 4,500 sqft 5 2 124 0 1 112
$895,000 1,217 0 - 4,500 sqft 4 2 134 1 0 35