Somerville Sees Slower Home Sales in January

Coming off a year in which Somerville saw a 35 percent increase in home sales compared to the previous year, home sales in January slowed down a bit.

In January 15 single-family homes and condos sold in Somerville, compared to 22 in January of 2012, according to figures from The Warren Group, publisher of Banker & Tradesman. That's a 31 percent decline.

Across the state, January home sales were up 7 percent, from 3,442 in 2012 to 3,686 this year. In regard to single-family homes, January saw the highest number of sales since 2007, according to The Warren Group.

Nearby, Cambridge saw a slight increase in home sales, from 43 in January of 2012 to 46 this January. Medford saw 27 home sales in January of 2012—again, we're talking about single-family homes and condos—and 25 in January of this year.

It should be noted that single-family homes and condos represent about about 44.7 percent of Somerville's housing stock, according to a November 2012 tax assessors report to the Somerville Board of Aldermen. Two- and three-family homes represent about 50.7 percent of the housing stock.