Charles River Properties LLC

Somerville, MA

Single-Family Homes

Massachusetts Broker License Number 9043



Somerville, MA

Mon Jun 21 2021
This week the median list price for Somerville, MA is $1,257,450 with the market action index hovering around 81. This is an increase over last month's market action index of 77. Inventory has decreased to 8. 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

The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.

Somerville, MA

Mon Jun 21 2021
This week the median list price for Somerville, MA is $1,257,450 with the market action index hovering around 81. This is an increase over last month's market action index of 77. Inventory has decreased to 8. 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

The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $1,257,450
Median Price of New Listings $1,449,450
Per Square Foot $591
Average Days on Market 52
Median Days on Market 21
Price Decreased 38%
Price Increased 0%
Relisted 0%
Inventory 8
Median Rent $3,400
Market Action 81
Strong Seller's Market

The market continues its bounce again this week. We’re a long way from the market’s high point so watch the Market Action Index as a leading indicator for how long this trend will last.

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
$1,974,450 3,141 0 - 4,500 sqft 3 3 6 1 0 17
$1,649,947 2,225 4,500 - 6,500 sqft 3 2 116 0 1 28
$881,950 1,975 0 - 4,500 sqft 3 2 106 0 1 150
$749,450 1,713 0 - 4,500 sqft 2 2 96 1 1 10