Somerville MA Median Home Sales Prices
Like most of Metro Boston, real estate prices have been fast on the rise in Somerville. The median price for single family homes for sale in Somerville MA is $992,652 over the past year. Even more astonishing is that is has increased by 50% since 2016 when the median sales price was around $600K. Now Somerville, once a modest blue collar suburb of Boston, is rapidly ascending to be one of Boston’s premier suburban real estate markets. Somerville’s median single family price of $992K ranks 14th highest out of the 33 neighborhoods in Metro Boston. That rank may not sound impressive, but it is when you consider that only 3 other suburbs rank higher than Somerville on that list: Brookline ($2.2M), Cambridge ($1.8M), and Newton ($1.59M). You might think that COVID-19 would have hit these expensive real estate markets the hardest, but it did little to slow down the housing market in Somerville, MA. Rental data shows that the apartment vacancy rate in Somerville stayed well below th