Location & Governance
Somerville, Massachusetts is located 2 miles northwest of downtown Boston and comprised of 4.1 square miles of land. Settled in 1630 and incorporated as a city in 1872; “Mayor-City Council” is the style of governance.
Housing Overview
With a population of 75,754 residents, the average household size is 2.29 persons and the median household income is $66,866. Of 33,720 total housing units, 31% are owner-occupied, 64% are rented and 5% are vacant. The Fiscal Year 2021 residential tax rate for Somerville, MA is 10.19%.
Sources: U.S. Census Bureau 2010-2014; City of Somerville, MA; MLS Pinergy®
Residential Sales 2019 – 2021: Somerville, MA
The statistics below provide a comparison of Condominium, Single Family, and Multi-Family homes sold in Somerville, MA in 2019, 2020, and as of June 30, 2021.
| # Sold | Avg. Sale $ | Median Sale $ | SP:OP | |
| Condo | ||||
| YE 2019 | 537 | $787,359 | $742,000 | 100% |
| YE 2020 | 439 | $818,967 | $780,000 | 100% |
| YTD Q2 2021 | 314 | $831,327 | $772,450 | 101% |
| Single Family | ||||
| YE 2019 | 76 | $973,717 | $875,000 | 102% |
| YE 2020 | 74 | $1,000,046 | $920,000 | 104% |
| YTD Q2 2021 | 41 | $1,020,260 | $812,250 | 101% |
| Multi-Family | ||||
| YE 2019 | 150 | $1,305,309 | $1,150,000 | 96% |
| YE 2020 | 181 | $1,402,922 | $1,210,000 | 102% |
| YTD Q2 2021 | 100 | $1,230,571 | $1,200,000 | 96% |
SP:OP = Sales Price to Original Price Ratio. Data Source: MLS Pinergy®
©2021 Intellectual property of Tamela Roche, all rights reserved.
Residential Inventory 2019 – 2020: Somerville, MA
The statistics below provide a comparison of Condominium, Single Family, and Multi-Family homes listed for sale in 2019 and 2020 in Somerville, MA.
| YE 2019 | YE 2020 | |
| Condo: | 644 | 668 |
| Single-Family: | 100 | 125 |
| Multi-Family | 234 | 278 |
Data Source: MLS Pinergy®
©2021 Intellectual property of Tamela Roche, all rights reserved.
Contact Tamela to schedule a Seller or Home Buyer Consultation to prepare for the sale of your home or to begin your new home search. All Clients receive the Residential Market Analysis by Tamela with comprehensive market data and historical home sale trends.
