Is East Somerville, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, East Somerville was a Seller's Market.
Key Takeaway
East Somerville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in East Somerville, MA
How much do homes in East Somerville, MA cost?
Median Sold Price
$857,500
$475/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in East Somerville have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in East Somerville was $857,500 in April 2024, up 9.6% from last year, and the median price per square foot was $475.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $586.5K | $558.7K | -4.7% |
| 2 Bedrooms | $670K | $585K | -12.7% |
| 3 Bedrooms | $815K | $855K | +4.9% |
| 4 Bedrooms | $812.5K | $820K | +0.9% |
| 5+ Bedrooms | $1.1M | $1.2M | +9.1% |
Summary: East Somerville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.7%, 2 bedroom homes decreased by 12.7%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 0.9%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Neighborhoods
| East Somerville | $782.5K | $857.5K | +9.6% |
| The Neck | $875K | $932K | +6.5% |
| Winter Hill / Magoun | $869K | $908.5K | +4.5% |
Housing Supply in East Somerville, MA
How many homes are available in East Somerville, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 19 | 23 | +21.1% |
Summary: The East Somerville real estate market had 23 homes for sale in April 2024, a 21.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 6 | 6 | 0.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The East Somerville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Somerville, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in East Somerville in April 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for East Somerville, MA
How long does it take to sell a home in East Somerville, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 61 Days | 248 Days | +304.3% |
Summary: Homes in East Somerville had an average of 248 days on market in Apr 2024, up by 304.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in East Somerville are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 1 homes were sold in East Somerville; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
