Somerville, Massachusetts Housing Market

What stands out in Somerville?

• 66% of occupied homes are rented: among the highest renter shares of 765 tracked cities. The tenant pool is deep.
• Homes for sale are 80% above 2017–2019: among the biggest inventory build-ups since 2017–2019 of 765 tracked cities. Buyers have far more choice than before the pandemic.
• Asking prices swing about 4.4% between the cheapest and priciest months: among the flattest seasonal prices of 765 tracked cities. The month you buy matters little here.

How much more is for sale in Somerville than before the pandemic?

There are 153 homes for sale in Somerville, 80% more than in 2017–2019 at this time of year. That count is up 40% on last year, with 82 new listings this month. The build-up is biggest in 02145 (64 for sale, 104% above its 2017–2019 level) and 02144 (45 for sale, 88% above its 2017–2019 level). More choice means you can walk away from any home priced for the market of three years ago.

How much can you negotiate in Somerville?

Pending-sale counts for Somerville were thinly reported until recently, so this page reads demand from how long listings sit, how many sellers cut, and how much is for sale. Few sellers are dropping their price. Asking prices are holding firm. Your discount will come from one stale listing.

The typical Somerville listing has been on the market 42 days. That is 22% longer than a year ago. There are 153 homes for sale in Somerville. That is 5.7 times the tightest month on record, but below the peak of 165. Supply is growing against last year.

What to do about it

• Search Somerville homes listed 60+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

How does Somerville compare with other Massachusetts markets?

Ranked among the 12 Massachusetts markets we track:

• Asking price: 3rd priciest of 12. Somerville is at $926,427. Closest: Medford and Cambridge.
• Time on market: 5th shortest time on market of 12. Somerville is at a median of 42 days on market. Closest: Worcester and Brockton.
• Price cuts: 5th fewest price cuts of 12. Somerville is at 18% of sellers cutting. Closest: Pittsfield and Lynn.

Who will rent from you in Somerville?

Most Somerville households rent. 66 out of every 100 households are renters. That share has held steady for five years. Somerville added about 1,700 renter households in five years. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 9% in five years. The housing stock grew 9%. The two are moving in step. Just 5.4% of homes sit empty. A well-priced rental fills fast here.

The median Somerville household earns $134,648 a year. Incomes here have grown 6.5% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 6.9 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. At 30% of income, a tenant on the median income can pay about $3,366 a month.

To see what one Somerville address would rent for and cash flow, run it through the app.

When do Somerville prices dip?

Across 9 full years, Somerville asking prices ran lowest in January, about 2.5% below the year's average. They peaked in July. The most homes for sale show up in October, about 37% above the yearly average. Shop in October for choice, and expect the softest asking prices in January.

What numbers should you underwrite a Somerville deal with?

• Price growth to assume — +1.9%/yr. Somerville has grown about 1.9% a year for five years and for ten. That pace held before and after the 2020–2021 boom, so it is a fair long-run input. Prices rose 2.5% over the last year. Use it for timing. The five-year rate is the better guide.
• Odds you cut your price to sell — 1 in 6. 18% of Somerville listings have cut their asking price. Underwrite your exit below asking.
• Comp on price per square foot — $745/sqft. The typical Somerville listing shrank from 1,664 to 1,287 sqft since Jul 2016. So median price hides real growth: 49% per sqft versus 19% on the median. Comp on median price and you will overpay for small homes.
• Competition when you exit — +40%. Homes for sale in Somerville are up 40% on last year, so your resale faces more competition than today's comps did.

Read what days on market tells you about leverage and how we read these numbers, then run the numbers on a deal.

What is the median home price in Somerville?

The median asking price in Somerville is about $926,000 as of Sep 2026, down 4.7% from a year ago. Asking price per square foot is up 2.5%, so read the median with care: it moves with which homes happen to be listed. This is the asking price on homes listed for sale. Sites that report sold prices or estimated home values will show a different number. Our Somerville figures cover the 3 ZIP codes with a Somerville mailing address, which can reach past city limits.

Is Somerville a buyer's or seller's market in 2026?

Buyers have more room in Somerville than usual. We compare Somerville with 2017–2019 at this time of year: there are 80% more homes for sale; the typical listing has been up 58% more days; 18% of sellers have cut their price, against 18% then.

Are Somerville home prices going up or down?

The median asking price is 20.6% below its Feb 2024 peak. Per square foot the gap is smaller: 10.2% below the Mar 2022 high. Part of the drop is smaller homes coming to market. Prices stopped falling about a year ago. They are flat now. Waiting will not get you a cheaper house. It might still get you a more motivated seller.