Somerville, MA Area Market Review 2020 vs. 2019 As of September 16, 2020 Prepared by Colleen Barry on Wednesday, September 16, 2020
Single Family Listing Inventory on September 16
2019
2020
Var.
Var. %
Listing Units
12
16
4
33.33%
Median Days on Market
44
25
-19
-43.18%
Median List Price
$974,500.00
$862,450.00
-$112,050.00
-11.50%
Median List $ / SqFt
$540.79
$604.31
$63.52
11.75%
Approximate Absorption Rate
59.72%
35.42%
-24.30%
-40.69%
Approximate Months Supply of Inventory
1.67
2.82
1.15
68.86%
Listed (Year to Date)
2019
2020
Var.
Var. %
Listing Units (Taken)
84
91
7
8.33%
Median Original List Price
$930,000.00
$949,000.00
$19,000.00
2.04%
Median Original List $ / SqFt
$523.35
$560.80
$37.45
7.16%
Went Pending (Year to Date)
2019
2020
Var.
Var. %
Listing Units (Went Pending)
61
70
9
14.75%
Median List Price
$924,900.00
$949,950.00
$25,050.00
2.71%
Median List $ / SqFt
$507.01
$555.97
$48.96
9.66%
Median Days to Offer
7
7
0
0%
Listed & Price Changed (Year to Date)
2019
2020
Var.
Var. %
Listing Units (Price Changed)
26
17
-9
-34.62%
Median Original List Price
$867,250.00
$999,900.00
$132,650.00
15.30%
Median Original List $ / SqFt
$530.23
$561.10
$30.87
5.82%
Sold (Year to Date)
2019
2020
Var.
Var. %
Closed Units (Sold)
56
48
-8
-14.29%
Median Days on Market
18
15
-3
-16.67%
Median Days to Offer
7
7
0
0%
Median Sale Price
$850,000.00
$955,000.00
$105,000.00
12.35%
Median Sale $ / SqFt
$524.01
$584.74
$60.73
11.59%
Median List Price
$842,000.00
$939,000.00
$97,000.00
11.52%
Median List $ / SqFt
$506.40
$561.78
$55.38
10.94%
Median Original List Price
$887,450.00
$942,000.00
$54,550.00
6.15%
Median Original List $ / SqFt
$517.17
$567.36
$50.19
9.70%
Median Sale Price as % of List Price
104.18%
104.59%
0.41%
0.39%
Median Sale Price as % of Original List Price
104.18%
104.59%
0.41%
0.39%
Median Sale Price as % of Assessed Price
129.68%
123.87%
-5.81%
-4.48%
Sold Units - Short Sale
0
0
0
0%
Sold Units - Lender-Owned
0
0
0
0%
12-Month Activity as of September 16
2019
2020
Var.
Var. %
Units Listed
113
107
-6
-5.31%
Units Price Changed
34
21
-13
-38.24%
Units Went Pending
93
86
-7
-7.53%
Units Sold
86
68
-18
-20.93%
Trend
Trend
Trend
Trend
Trend
Trend
This information gathered from third parties, including seller and public records. MLS PIN and subscribers disclaim all representations/warranties as to its DFFXUDF\ &RQWHQW ‹ 0/6 3URSHUW\ ,QIRUPDWLRQ 1HWZRUN ,QF