As we wait to see the impact of the COVID-19 pandemic on the market; we can see the positive impact of weather given New England experienced one of the lowest snowfall amounts on record in Q1 2020. The chart below is a comparison of Average Sale Prices for Condominium and Single Family homes in Somerville, MA for Q1 (January 1st through March 31st) in 2018, 2019, and 2020:
Somerville Condominium Average Sale Prices: Q1 2018 – 2019 – 2020
- Average sale price for Somerville Condo in Q1 2018 = $761,334
- Average sale price for Somerville Condo in Q1 2019 = $822,242 (8% increase from 2018 to 2019)
- Average sale price for Somerville Condo in Q1 2020 = $844,593 (3% increase from 2019 to 2020)
Read more about Somerville MA Condominium Market Statistics
Somerville Single Family Average Sale Prices: Q1 2018 – 2019 – 2020
- Average sale price for Somerville Single Family in Q1 2018 = $ 948,408
- Average sale price for Somerville Single Family in Q1 2019 = $ 936,455 ( 1% decrease from 2018 to 2019)
- Average sale price for Somerville Single Family in Q1 2020 = $1,027,250 (10% increase from 2019 to 2020)
Read more about Somerville MA Single Family Market Statistics
Plans to Buy and/or Sell? Contact Tamela for a Home Buyer and/or Seller Consultation to review current safety precautions in place for real estate sales. It is very important to understand your rights as a home buyer or seller in MA as well as how to protect your negotiating position. Ensure your best interests are represented by hiring a reputable Realtor® with proven results who only represents you and your best interests as the Home Buyer or Home Seller (but not both sides in the same transaction).
©2020 Tamela Roche, all rights reserved. Data Source: MLS Property Information Network, Inc.
