The year ended strong in the Somerville single family home market. This is great news for homeowners! Here are the Somervile MA single family home sale statistics for 2015.
Somerville MA Single Family Property Prices
Average home prices are a great indication of how well the market is doing and what the general trends are. Single family homes in Somerville MA sold for $736,032 on average during 2015. It was only $628,196 for the previous year. This is a 17.17 % increase in prices!. Two years ago, it was $551,998. This is a strong performance year after year.
Somerville MA Market Transactions
Typically, a shortage of listings will contribute to increased sale prices. If you look at the number of homes that sold over the last few years, the figure is actually pretty consistent. However, this doesn’t reflect the fact that demand has increased dramatically during this time. Supply has not caught up with demand. In Somerville MA for 2015, the listing volume was 83. This is the same as the year before. During the year before that, it dropped -4.6% from 87 to 83.
Somerville MA Average Listing Time Frame for the Full Year 2015
Homes are still selling quickly in Somerville MA. The average listing time frame in Somerville MA for the full year decreased -16.67% from 54 to 45. This after it changed 50% from 36 to 54. The averages for the entire year don’t give a clear indication of that. This is because a small group of homes are skewing the numbers. It’s still very common for homes to sell right after the first open house.
Somerville MA Single Family Home Sale Statistics For 2015
For additional Somerville MA single family home sale statistics for the full year 2015 or statistics for neighboring areas, contact Carl Garcia at at Eagle Trust Insurance. He will be happy to refer you to a local real estate agent. The above was compiled using data from the MA MLS Property Information Network, Inc. It is intended to provide a general understanding of the market. It is not guaranteed accurate as some homes may have sold outside of MLS or there may have been errors in the MLS entry.