And Now for the ‘Ville… Somerville 3-Year Home Price Comparisons

July 23, 2013

Always happy to divide-and-conquer, my colleague Natasha Burger and I recently divvied up the job of running 3-year home price comparisons for Cambridge & Somerville. I previously published my Cambridge stats, and am now adding Natasha’s Somerville data to the mix. I’m sure you’ll agree the market here in Cambridgeville is hot!

Somerville Condos  1BR/1ba, without parking
2011 YTD – 5 units sold – average price: $254,900
2012 YTD – 8 units sold – average price: $288,875
2013 YTD – 14 units sold – average price: $289,489
3-Year Change: Up 14%

Somerville Condos — 2BR/1ba, with 1 parking space
2011 YTD – 36 units sold – average price: $320,238
2012 YTD – 25 units sold – average price: $364,084
2013 YTD – 20 units sold – average price: $365,920
3-Year Change: Up 14%

Somerville Condos — 3BR/1.5+ba, with 1+ parking space(s)
2011 YTD – 34 units sold – average price: $594,951
2012 YTD – 47 units sold – average price: $533,663
2013 YTD – 37 units sold – average price: $603,634
3-Year Change: Up 1%

Somerville Single-family — up to 2000 square feet
2011 YTD – 22 units sold – average price: $382,125
2012 YTD – 36 units sold – average price: $426,656
2013 YTD – 27 units sold – average price: $484,185
3-Year Change: Up 27%

Somerville Single-family — larger than 2000 square feet
2011 YTD – 9 units sold – average price: $585,500
2012 YTD – 13 units sold – average price: $707,385
2013 YTD – 9 units sold – average price: $728,333
3-Year Change: Up 24%

Somerville 2-Family properties
2011 YTD – 46 units sold – average price: $495,582
2012 YTD – 46 units sold – average price: $539,378
2013 YTD – 48 units sold – average price: $671,705
3-Year Change: Up 36%

Somerville 3-Family properties
2011 YTD – 25 units sold – average price: $587,641
2012 YTD – 27 units sold – average price: $585,974
2013 YTD – 15 units sold – average price: $732,400
3-Year Change: Up 25%

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