Somerville, MA Real Estate Market Report — May 2026

A comprehensive look at closed sales, pricing trends, and what the numbers mean for buyers and sellers across Somerville’s diverse real estate market.¹

How Did the Somerville Market Perform in May 2026?

Somerville posted 57 closed sales in May 2026, generating over $64.5 million in total volume, with a median sale price of $1,085,000 and homes moving in a median of 19 days.

Somerville’s May market delivered a familiar story: strong demand, lean supply, and buyers competing on the right properties. The median sale-to-list ratio was exactly 100.0%, while the average pulled to 101.1% — a reflection of the competitive cluster at the top of the market. Forty percent of all sales closed at or above asking price. The standout was 289 Lowell Street, a single-family that listed at $995,000 and sold for $1,200,000 — 120.6% of asking — in just 15 days. On the multifamily side, 74 Pearson Avenue listed at $1,250,000 and closed at $1,460,000 (116.8% of asking) in 16 days, and 183 Powder House Boulevard went for $1,600,000 against a $1,450,000 ask in the same span. When a well-priced Somerville property hits the market, it doesn’t wait around. All figures are from MLS data via MLSPIN.

At the other end of the spectrum, one Canal Street condo sat on the market for 247 days — nearly 13 times the median — before closing at 95.9% of asking. Even in a healthy market, pricing too high carries a real cost in Somerville.

What Are Condos Selling for in Somerville Right Now?

Somerville condos had a median sale price of $992,500 in May 2026, at a median of $777 per square foot, with 40% selling over asking price.

Condominiums dominated May’s activity, accounting for 42 of 57 closed sales — 74% of total volume — generating $41.9 million. The Somerville condo market draws a broad buyer pool: first-time buyers, investors, downsizers, and renters making the leap to ownership, many drawn by walkability, Red Line access at Davis Square Station, and the Green Line Extension serving Union Square and beyond. The price range was wide — from $422,577 at the entry level to $2,275,000 at the top — reflecting the diversity of Somerville’s condo stock. Even the entry-level end showed strong demand: a condo at 326 Broadway sold for $422,577, which was 108.4% of its asking price in 20 days. Median DOM was 20 days, consistent with the overall market. For sellers, the 40% over-asking rate means proper pricing and presentation can meaningfully shift your outcome.

How Did Multifamily Homes Perform in May 2026?

Somerville multifamilies were the most competitive segment in May — 50% sold over asking at a median of $1,390,000, moving in just 18 days.

Ten multifamily properties closed in May, and five of them beat the list price. The median SP/LP ratio was 102.0% — the strongest of any property type. The appeal is clear: Somerville multifamilies, particularly three-deckers, offer buyers the ability to live in one unit while renting the others, with documented rental income helping offset mortgage carrying costs. 43-45 Grove Street listed at $1,399,000 and sold for $1,543,000 (110.3%) in 19 days; 48 Springfield Street went for $1,120,000 against a $1,049,000 ask (106.8%) in 17 days. With 79 active multifamily listings currently on the market and a median DOM of just 18 days for those that closed, well-priced multifamilies in Somerville are being absorbed quickly. The price range ran from $755,000 to $1,995,000, offering entry points across multiple buyer profiles.

How Did Single-Family Homes Perform in May 2026?

Only 5 single-family homes closed in May — a reflection of how scarce this property type is in Somerville — with a median sale price of $1,699,000.

Single-family inventory in Somerville is chronically tight. Five closings in a month is a small sample, and the data reflects that variability: the median SP/LP ratio was 95.8%, but the average was 101.5% — pulled upward by one aggressive sale. 289 Lowell Street listed at $995,000 and closed at $1,200,000 (120.6% of asking) in just 15 days, showing that well-priced single-families still generate strong competition. The month’s high was $2,300,000. The average DOM of 48.6 days — more than double the median of 23 — reflects a few longer-sitting properties dragging the average upward. For buyers seeking a single-family in Somerville, patience is the operative word: supply is limited and well-priced properties move fast when they do appear.

What Does the Inventory Picture Look Like?

With 285 active and pending listings and 57 May closings, Somerville is running at approximately 5 months of supply — slightly more balanced than Cambridge, but still competitive for well-priced properties.

Of the 285 current listings, 78 are already under agreement and 15 are contingent, meaning roughly 33% of visible inventory is already spoken for. The 179 actively available listings span all price points, with a median list price of $1,099,900. The multifamily segment stands out for its depth: 79 active listings represent meaningful opportunity for investors and owner-occupants seeking the Somerville three-decker model — and with a May closing rate of 10 and median DOM of 18 days, motivated sellers are transacting. The 6 recent price reductions are worth monitoring for buyers looking for repositioned opportunities. Davis Square, Union Square, and Ball Square continue to command premiums, with Red Line and Green Line Extension access consistently cited as key value drivers by buyers.

What Does May 2026 Mean for Somerville Buyers and Sellers?

For Sellers

The market is rewarding well-priced properties. With 40% of homes selling above asking and a 19-day median DOM, correctly priced listings are finding buyers quickly. Multifamily sellers in particular saw strong results in May, with half of all multifamily closings going over ask. If you’re planning to list this summer, buyer demand remains active and inventory is absorbing steadily.

For Buyers

The median SP/LP ratio of 100% means not every property is drawing a bidding war — but the competitive outliers (120%, 116%, 110% of list) remind buyers that desirable, well-priced properties still require a decisive, prepared offer. Get pre-approved, understand your ceiling, and don’t overlook the multifamily segment: with 79 active listings and strong rental income potential, a Somerville three-decker can make meaningful financial sense for the right buyer.

Work With a Somerville Real Estate Expert

Ed Greable & Company tracks the Somerville market every month and can help you make sense of what the data means for your specific goals.

Whether you’re buying a condo near Davis Square Station, selling a single-family in Winter Hill, or evaluating a three-decker investment, the numbers above are a starting point — not the whole picture. Every neighborhood and property type in Somerville performs differently. Reach out to Ed Greable & Company at edgreable.com to talk through what May’s market means for you.

Frequently Asked Questions About the Somerville Real Estate Market — May 2026

What is the median home price in Somerville MA in 2026?

Based on May 2026 MLS data via MLSPIN, the median sale price across all property types in Somerville was $1,085,000. Condos had a median of $992,500; single-family homes came in at $1,699,000; multifamily properties at $1,390,000.

Are homes selling over asking price in Somerville MA?

Yes — 40% of Somerville homes closed at or above asking price in May 2026. Multifamily properties were the most competitive segment, with 50% selling over list. The top over-asking sale was 289 Lowell Street, a single-family that sold for $1,200,000 against a $995,000 list price — 120.6% of asking.

How long does it take to sell a home in Somerville MA?

The median days on market in Somerville for May 2026 was 19 days across all property types. Multifamily homes moved the fastest at a median of 18 days. One condo sat on the market 247 days — a reminder that overpriced properties face real consequences even in a strong market.

Is Somerville MA a buyer’s or seller’s market right now?

May 2026 data reflects a balanced-to-seller’s market. The median SP/LP ratio was exactly 100%, and at approximately 5 months of supply, Somerville is slightly more balanced than Cambridge. That said, well-priced properties in high-demand neighborhoods near Davis Square and Union Square continue to attract strong competition.