Charles River Properties LLC

Somerville, MA

Condos/Townhomes

Massachusetts Broker License Number 9043



Somerville, MA

Mon Jun 21 2021
This week the median list price for Somerville, MA is $849,000 with the market action index hovering around 67. This is less than last month's market action index of 70. Inventory has increased to 81. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Somerville, MA

Mon Jun 21 2021
This week the median list price for Somerville, MA is $849,000 with the market action index hovering around 67. This is less than last month's market action index of 70. Inventory has increased to 81. 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 started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Real-Time Market Profile

Never miss important changes in the Somerville market.
Median List Price $849,000
Median Price of New Listings $975,000
Per Square Foot $674
Average Days on Market 51
Median Days on Market 28
Price Decreased 35%
Price Increased 0%
Relisted 6%
Inventory 81
Median Rent $2,800
Market Action 67
Strong Seller's Market

The market is hovering around this plateau. Look for a persistent change in the Market Action Index before we see prices deviate from these levels.

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
$1,279,450 2,100 4,500 - 6,500 sqft 3 3 41 7 4 14
$987,450 1,449 0 - 4,500 sqft 2 2 101 8 3 35
$775,000 1,193 0 - 4,500 sqft 2 2 101 4 6 31
$634,900 905 4,500 - 6,500 sqft 2 1 111 4 4 21