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Somerville condo sales slide, home sales flat

Posted by Matt Byrne  July 11, 2011 10:04 AM

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Condominium sales in Somerville slid significantly in May, while home sale rates were flat in the month.

Condo units placed under agreement declined to 18 in May, compared to 43 in the same period last year. Since January this year, 40 percent fewer units were sold, totaling 92, down from 154 at this time in 2010.

The price of a condo decreased about 2 percent, to $330,000, according to the statistics, compiled by Boston-based real estate tracking firm The Warren Group.

Single-family home sales, meanwhile, remained flat, with six units sold both this June and last.

On the bright side, the average price of a single-family home increased nearly 13 percent since January, compared to last year.

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