The median price of a condominium in Somerville, Massachusetts increased in September to $455,000, a 7.7 percent increase compared to the $422,500 median price in September 2013, according to the Massachusetts Association of Realtors.
Through the first nine months of the year, Somerville, MA condo prices increased 17.3 percent. The median condo price through September was $488,000. During the same period last year, the median condominium price was $416,000. In September, home buyers paid 102.2 percent of the original list price for condos, and they paid 103.1 percent of the original list price through the first nine months of 2014. Bidding wars and offers for more than list price for condominiums have been the norm recently in Somerville.