With only 0.3 months of inventory, Somerville remains a seller's market. The median home price in Somerville currently stands at $170,000. At the current pace, all available homes in Somerville would sell out in just 0.3 months, indicating a continued supply shortage. Homes are taking about 93 days to sell, which is NaN days longer than this time last year. Approximately 33.3% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Somerville market with the affordability index at 1471.9. Based on current market indicators, home prices in Somerville are projected to increase by approximately 30.0% over the next month.
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