Somerville Home Sales Were Down Through May

Home sales in Somerville were slightly down through May of this year when compared to the first five months of 2012.

According to figures released by The Warren Group, publisher of Banker & Tradesman, at the end of June, a total of 156 condos and single-family homes sold in Somerville through May, compared to 179 through May of 2012—a 12.6 percent decline.

During May alone, 55 condos and single-family homes sold, compared to 62 in May of 2012. That represents an 11.3 percent decline.

Across the state, 2013 saw the strongest May home sales numbers since 2006, according to The Warren Group. However, when it comes to year-to-date home sales through May, the numbers were slightly down across the state as well, the real estate and business research firm reported.

While the number of homes sold in Somerville was down compared to 2012, the price of sold homes was up.

Through May, the median sale price of single-family homes was $520,500 through May of 2013, compared to $360,000 through May of 2013. As for condos, the median sale price was $399,000 in 2013 compared to $371,858 in 2012.

It should be noted that single-family homes and condos represent about about 44.7 percent of Somerville's housing stock, according to a November 2012 tax assessors report to the Somerville Board of Aldermen. Two- and three-family homes, which aren't represented in The Warren Group's figures, make up about 50.7 percent of the housing stock.