This is Neighborhood Watch, a monthly breakdown from Curbed Boston about what's going on market-wise in key neighborhoods 'round the region (and, for our purposes here, towns and cities are neighborhoods, too—because they almost were, after all). All stats courtesy of William Raveis Real Estate. Now, Somerville.
Here's what struck us about Somerville's single-family market: the average listing price was $497,732 for the 12 months ending November; the average sales price was $507,429. Not only was this higher than the asking, but the two—what sellers wanted and what buyers paid—were much closer to being in sync than in for other markets.
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The same held for Somerville condos, in fact. The average listing price was $409,060, and the average sales price was $398,119 (and the median, for that matter, was $385K). Meanwhile, inventory and days on market were way down annually, just like with single-families.
· Our Neighborhood Watch archive [Curbed Boston]