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Somerville condo, home sales continue to rise

Posted by Jarret Bencks  December 28, 2012 10:20 AM

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Single-family home and condo sales in Somerville continued to rise in November, as the city outpaces statewide trends, according to recently released real estate data.

A total of 34 condos were sold in Somerville last month -- up from 25 in November 2011 -- and 424 have sold year-to-date in the city, according to data from real estate publisher The Warren Group

Single-family home sales are up over 60 percent from last year, with 103 sold through November, compared to 63 in the same span last year, according to the data.

The median sale price of a condo in Somerville is up about 5 percent, from $360,000 to $379,750, according to the data. Single-family home sale prices are down slightly, from $437,500 to $435,000.

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

Statewide, there was a 22 percent increase in home sales through November 2012, according to the data. A total of 43,652 homes have been sold through November this year, compared to 35,718 through November 2011.

With one month remaining to be reported, this year is trending toward having the most home sales statewide since 2006, according to Warren Group CEO Timothy Warren.

"We're winding down a pretty strong year of real estate in Massachusetts. It looks like sales will be the highest since 2006," Warren said in a written statement. "We're also seeing median prices start to creep up, another positive sign of a healthy market recovery."

Jarret Bencks can be reached at bencks.globe@gmail.com. Follow him on twitter @JarretBencks.


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