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Somerville condo sales doubled in December

Posted by Jarret Bencks  January 31, 2013 10:02 AM

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Condo sales more than doubled in Somerville compared to December 2011, ending a year of increased action on residential real estate in the city, according to recently released data.

A total of 29 condos were sold in Somerville in December, up from 13 in December 2011, according to real estate publisher The Warren Group. Overall, 452 condos were sold in 2012, a 31 percent increase from the 345 sold in 2011. The median sale price increased nearly 5 percent from 2011, from $358,000 to $375,000.

Home sales in the city ticked down slightly in December, from seven in 2011 to six in 2012, but finished the year up over 50 percent, from 70 in 2011 to 108 in 2012, according to the data. The median sale price went up slightly, from $445,000 to $448,250.

Click for town-by-town home and condo sales breakdowns

Home sales statewide were up 18 percent year-over-year, from 39,594 in 2011 to 46,887 in 2012. The median sale price in December in the state was $300,000, the highest figure for a December since 2007.

"I would characterize 2012 as the year of robust recovery in the real estate market," Timothy Warren, CEO of The Warren Group, said in a statement. "It is clear we have turned the corner and are gaining ground rapidly."

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

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