Somerville home, condo sales ride statewide July surge

By Matt Byrne, Town Correspondent

Home and condominium sales in Somerville surged in July, new housing figures show, paralleling a statewide uptick in real estate transactions.

Last month, 19 single-family homes were sold in the city, up from nine in July 2011, according to The Warren Group, which tracks real estate data statewide.

So far for this year, the figures are equally as promising: 69 homes have been sold in the first seven months of 2012, up form 38 in the same period last year.

Prices also leaped with demand. So far this year, the median home price is $449,000, up from $411,325 at this time last year.

Sales of condominiums made strong gains, too. A total of 62 units were sold in July, up from 54 in the same month last year. In the first seven months of 2012, 282 units went under agreement, up from 195 in the same time in 2011.

The price of those condominiums also rose $5,500 to $390,000.

For town-by-town single-family stats, click here; for condos, click here.

"There are a lot of good signs pointing toward a real estate recovery," Cory S. Hopkins, editorial director of The Warren Group, said in a statement. "But, we are comparing sales to a very depressed market last summer, so it's important to step back and realign expectations."