Cost of Living in Somerville in 2020: Single Families

Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...

How much does a single family cost in Somerville, MA?

At the end of 2013, the average cost of a single family in Somerville, MA was $572,527.
88 sales in 2013. Sale price averaged 102% of original price.

At the end of 2016, the average cost of a single family in Somerville, MA was $827,320.
87 sales in 2016. Sale price averaged 102% of original price.

At the end of 2019, the average cost of a single family in Somerville, MA was $973,717.
76 sales in 2019. Sale price averaged 102% of original price.

If we look at the first five months of 2020 (through May 31, 2020):
The average sale price of a single family in Somerville, MA at the end of this period of time was $1,109,250. Sale price averaging 102% of original price.
Just 18 single family sales in Somerville, MA during this period of time (1/1/20--5/31/20):
• 2 sales between $700,000 and $800,000
• 1 sale between $800,000 and $900,000
• 4 sales between $900,000 and $1,000,000
• 9 Sales between $1M and $1.5M
• 2 sales between $1.5M and $2M

The heart of the single family market in Somerville, MA is between $1`M and $1.5M, with 50% of single family sales in this price range in the first five months of 2020. Noteworthy that the number of sales in the first half of 2020 is reduced (Covid-19). That being said, average sale price is higher.

Here are three single family sales from the first five months of 2020 to give you a better sense of the cost of a single family market in Somerville, MA: