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Suddenly Seeking Somerville: Sales Jump as Prices Rise

Presenting 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. Next up, Somerville, home of SomerVision.

The biggest takeaway in the single-family market might be that it takes about two weeks longer on average to sell a Somerville house than it did a year ago. Otherwise, everything's coming up sellers: sales up more than 20 percent annually; average sales prices up 10.1 percent to $522,518; median up 2.9 percent to $490,000; and inventory down more than 16 percent.
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Condo sales, too, bounced more than 20 percent annually in August. The average sales price was basically flat year over year at $396,289, while the median was up slightly to $385,000. Inventory, like with the single-family market, was down by double digits.

· SomerVision Clearer, Cloudier as Green Line Green O.K.'d [Curbed Boston]