The median home value in Somerville has continued to rise in recent months, while the Boston market has remained stagnant. Though Zillow forecasts indicate median home values will grow in both cities over the next year, Somerville is expected to see greater gains.

According to Zillow, the median home value in Somerville was $470,500 in June, nearly $40,000 more than Boston.

Zillow’s most recent forecast, published at the end of June, projects the median home value in Somerville to rise 5.8 percent, from $470,5000 to $497,000, by June 2015. While the projected rise over the next year would not be quite as pronounced as the 15 percent bump the Somerville housing market experienced between June 2013 and June 2014, when the city’s median home value skyrocket from $403,000 to $470,500, it would still surpass Boston.

Zillow is predicting the median home value in Boston to increase 3.5 percent, from $431,800 (June 2014) to $446,000, by June 2015.

Median home values in Somerville and Boston at the end of June 2013 were $403,000 and $397,000, respectively. Should Zillow’s projections stick, the median home value in Somerville will have grown at a rate nearly double that of Boston over two years (June 2013 to June 2015).

Graph via Zillow
Creative Commmons/Flickr image