Somerville, MA Condominium Prices, Sales Rise First Quarter 2012

PRLog (Press Release) - Jun. 19, 2012 - The median price and sales of condominiums in Somerville, Massachusetts increased in Q1 2012, according to data analyzed by Buyers Brokers Only LLC, the largest exclusive buyer agent real estate firm in Massachusetts. (http://BuyersBrokersOnly.com)

The data were compiled using MLS Property Information Network, Inc, a local multiple listing service.

The median price of condominiums increased 17.6 percent in Q1 2012, a difference of $58,000 compared to the first quarter 2011. Condominium sales rose 22 percent in Q1 2012, a difference of just 11 sales compared to Q1 2011.

Multi-family home prices dropped 5.2 percent in Q1 2012, a difference of $24,000 compared to Q1 2011. Multi-family home sales fell 21.2 percent, a difference of seven sales compared to the first quarter of 2011.

The median price of single-family homes decreased 34.7 percent in Q1 2012 compared to the previous year, a difference of $188,750.  Single-family home sales in Somerville, MA increased 62.5 percent in the first quarter of 2012, a difference of five sales compared to Q1 2011.

Somerville, Massachusetts Real Estate Market Report

                          Sales / Median Price

Condominiums

Q1 2011  – 50 / $330,000
Q1 2012 – 61 / $388,000

Multi family

Q1 2011  – 33 / $465,000
Q1 2012 – 26 / $441,000

Single family

Q1 2011  – 8 / $543,750
Q1 2012 – 13 / $355,000

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