Somerville Median Hits $1.2 Million as Eight of 11 Sales Top Seven Figures
SOMERVILLE -- A $2.45 million transfer of 17 Monmouth St. from the Somerville Housing Authority to a private LLC topped a late-May to late-June recording period that logged 11 disclosed-price sales clustered almost entirely above $1 million.
- MARKET OVERVIEW
- Sixteen deeds were recorded between May 28 and June 26, with sale prices disclosed on 11 of those transactions. Prices ranged from $450,000 to $2,450,000, and the median sale price among the 11 disclosed transactions was $1,200,000. The remaining five transfers appear to be trust, estate, or intra-party conveyances and carried no reported consideration. Among the arm's-length sales, eight of 11 — roughly 73 percent — closed at or above $1 million, pointing to a market dominated by higher-priced assets in this recording cycle.
- TOP SALES
- The period's highest recorded transaction was 17 Monmouth St., which sold for $2,450,000 on May 29. The seller was the Somerville Housing Authority and the buyer was SEMS Holdings LLC. At 211 Summer St., Nicholas and Melina Foust paid $1,750,000 on May 28, with Rhonda J. Montgomery as the seller. Unit 1 at 10 Bartlett St. changed hands for $1,475,000 on May 28; Turnpike Prop LLC sold to Rakhi Desai and Timothy Farrell. Unit 2 at 25 Fenwick St. sold for $1,200,000 on May 29, with sellers David J. Aziz and Maelys J. Amat conveying to Jackson Bain and Alexandrea Beh; the same sellers also transferred Unit 1 at the same address to Daniel Brian Hock and Jane Louise Erb for $1,100,000 on the same date. 289 Lowell St. and 2 Hillside Ave. each recorded at $1,200,000 on May 28, rounding out a cluster of six sales at or above $1.1 million.
- NEIGHBORHOOD BREAKDOWN
- Lowell Street produced two sales: 125 Lowell St. Unit 202 at $935,000 and 289 Lowell St. at $1,200,000, together spanning the mid-to-upper price range. Fenwick Street also generated two sales in a single day — both units at 25 Fenwick St. — totaling $2,300,000 combined. Among the five sales with no disclosed price, addresses on Walker Street, Houghton Street, Moreland Street, Lincoln Parkway, and Putnam Street show grantor-to-grantee name patterns consistent with trust formations or intra-family restructuring. The sole sub-$500,000 sale was 84 Grant St. Unit 7, which closed at $450,000 and stands as the only transaction below the $900,000 mark among disclosed sales.
- MARKET NOTES
- Of the 11 disclosed-price sales, 10 appear to be standard market transactions and one — 17 Monmouth St. — involved a public entity, the Somerville Housing Authority, as seller. Square footage data is not available from deed records, so price-per-square-foot analysis cannot be performed. The two same-day unit sales at 25 Fenwick St. suggest a two-unit building was sold as separate condominiums in a coordinated transaction. Five of the 16 recorded deeds carry no consideration amount and involve grantor and grantee names that are identical or closely related, a pattern common in trust formations and estate planning transfers; no price is reported for those entries.