Somerville, MA Home Values & Market Trends
Real estate market trends reflect that there have been 730 transactions over the past year in Somerville. The median value for residential home transactions that occurred over the previous year is $959,218.09. The number of current listings in Somerville is 16, and the percentage of properties for sale in the city is 16.00%. Somerville, MA currently has 14 properties in foreclosure, 0 bank owned properties, 2 properties headed for auction, and 16 properties for sale.
Somerville, MA Real Estate Market Overview
Housing Market Summary for Somerville, MA
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $925K | $966.6K | 4.50% |
| Median Sold Price | $912K | $966.6K | 5.99% |
| Homes For Sale | 25 | 13 | -48.00% |
| Homes Sold | 244 | 233 | -4.51% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in Somerville, MA
Browse Homes in Somerville, MA
Somerville home values range from $42,042 to $6,142,384. The median estimated value of a home in Somerville is $959,218.09. The median list price of a home is 990,000, and the total count of properties in the city is 16,198.
- Pre-ForeclosurePre-foreclosure homes account for 0.07% of all residential properties in Somerville, MA with 02145 containing 7 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 3 zips within Somerville, MA; of those zips, the estimated home value for pre-foreclosure homes ranges from $1,191,000 in 02144 to the lowest home value of $769,999 in 02145.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in Somerville, MA ranges from the highest value of $0 in N/A to the lowest value of $0 in N/A. Bank owned homes and properties account for 0% of properties in Somerville, MA. There are 3 zips within Somerville, MA; N/A containing 0 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions02145 has 1 auction properties, the highest number of properties going to auction in a single zip in the state of Somerville, MA. Auction homes and other auction properties account for 0.01% of all properties in Somerville, MA. There are 3 zips within Somerville, MA; of those zips, the median estimated home value for homes going to auction ranges from $1,021,000 in 02145 to the lowest value of $902,500 in 02145.
Compare Nearby Cities
More Real Estate Resources for Somerville, MA
Guide for Somerville, MA
This analysis highlights the significant growth in Boston’s real estate market with increasing property values, and the diversity of pricing in its neighborhoods. It presents a dynamic market catering to a wide range of buyers and investors, from high-end to more economic entry points.
Information on foreclosure financing, refinancing, and foreclosure mortgages.
Market report of Savannah, GA, a real estate market that has shown consistent growth, with the average property value reaching nearly $400,000.
Report of recent trends in Mobile, Alabama’s real estate market, highlighting rising property values, fluctuating sales volumes, and the variations in value and sales figures across neighboring areas as of March 2024.