Is West 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, West Somerville was a Buyer's Market.
Housing Prices in West Somerville, MA
How much do homes in West Somerville, MA cost?
Median Sold Price
$1,018,700
$653/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in West Somerville was $1,018,700 in April 2024, up 13.2% from last year, and the median price per square foot was $653.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $513.5K | N/A |
2 Bedrooms | $746K | $780K | +4.6% |
3 Bedrooms | $962.4K | $1.0M | +4.7% |
4 Bedrooms | $1.1M | $1.1M | -0.5% |
5+ Bedrooms | $1.1M | $1.5M | +36.4% |
Summary: West Somerville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes increased by 36.4%.
Median Sold Price Compared To Nearby Neighborhoods
West Somerville | $900K | $1.0M | +13.2% |
Davis Square | $1.2M | $1.4M | +11.7% |
Housing Supply in West Somerville, MA
How many homes are available in West Somerville, MA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
19 | 24 | +26.3% |
Summary: The West Somerville real estate market had 24 homes for sale in April 2024, a 26.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 10 | +66.7% |
3 Bedrooms | 7 | 9 | +28.6% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The West Somerville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4 | 9 | +125.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in West Somerville in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 22% were sold at asking, and 67% were sold over asking.
Days on Market for West Somerville, MA
How long does it take to sell a home in West Somerville, MA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
12 Days | 15 Days | +30.6% |
Summary: Homes in West Somerville had an average of 15 days on market in Apr 2024, up by 30.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in West Somerville; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.