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Cambridge Real Estate Market In April 2009

Cambridge Real Estate MarketThe Cambridge real estate market is humming – so before we get any further into May let’s look at the real estate market activity in Cambridge in April 2009.

Cambridge Real Estate Inventory

A the end of April 2009  there were 427 residential properties on the market in Cambridge, a significant increase from  a month before when 355 properties were listed for sale.  Cambridge real estate buyers will be happy to have more inventory to choose from.  By comparison, at this time in of the year in 2008 445 residential properties were on the market in Cambridge and in 2007 there were 485 properties listed for sale on April 30th.

The lowest priced property was listed for $199,000, the most expensive for $4,850,000. Average days on market was 102.

Cambridge Real Estate Sales in April 2009

57 property sales closed in Cambridge during April with an average sales price of $528,650.  The median sales price was $422,000.  Average days on market was 114.

3 single family sales closed in April for sales prices of $1,475,000, $1,790,000, and $1,915,126.  Average days on market was 69.

46 condos sold in Cambridge in April. The least expensive condominium sold for $187,000.  The most expensive condo sold for $754,000.  The median condo sales price was $409,000.  Condos sold for an average of 96% of the asking price.  Average days on market was 112.

8 multi-family houses sold in Cambridge in April. The lowest sale price for a multi-family was $520,000.  The highest price paid was $1,075,000.  The median sale price for a multi-family in Cambridge in April was $650,000.  Multi-families sold for an average of 92% of list price.  Average days on market was 144.

Total Cambridge closed residential real estate sales volume in April was $30,133,026.

Information from MLSpin.

  Also see:

Cambridge Real Estate Market in January 2009
Cambridge Real Estate Market in February 2009
Cambridge Real Estate Market in March 2009

 

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Somerville Real Estate Market Activity – April 2009

Somerville Massachusetts Real EstateThe April real estate  sales numbers are in – here’s the April 2009 Somerville real estate market report.

Somerville Real Estate Market Snapshot

 255 residential properties were on the market in Somerville on April 30, 2009.  The lowest priced property was listed for $125,000, the most expensive for $1,600,000. Average days on market was 107.

Inventory is up from last month when 217 properties were on the market on March 31st.  It’s not unusual for new inventory to outpace sales during the height of the spring market as many sellers choose to list their homes for sale during the busy spring months.  Inventory is still down on an annual basis – there were 332 residential properties on the market a year ago in Somerville

Somerville Real Estate Sales in April 2009

34 properties sold (closed) in Somerville during April with an average sales price of $429,603.  The median sales price was $402,750.  Average days on market was 119.

Four single family sales closed in April for prices ranging from $190,000 to $533,000.  The average sales price for a Somerville single family house sold in April was $365,875.  Single family houses in Somerville sold for an average of 91% of asking price.  Average days on market was 50. 

Fourteen condominiums sold in April. The least expensive condominium sold for $100,000.  The most expensive condo sold in April closed for $525,000.  The median condo sales price was $387,000.  The average days on market was 108.  Somerville condos sold for an average of 96% of list price.

Sixteen multi-family property sales closed in April, twice as many as closed in March. The lowest sale price for a multi-family was $280,000.  The highest price paid was $835,000. The median sales price was $534,000. Multi-families sold for an average of 97% of list price.  Average days on market was 146.

Total Somerville closed residential sales volume in April was $14,606,500.

 See Also:

Somerville MA Real Estate Market Activity – January 2009
Somerville MA Real Estate Market Activity – February 2009
Somerville Real Estate Market Activity – March 2009

 

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Somerville real estate sales data from MLSpin.

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Belmont MA Real Estate Market – April 2009

Belmont Real Estate MarketThe numbers are in – here’s  a  look at Belmont Massachusetts real estate market activity in April 2009. 

Real Estate Inventory in Belmont MA:

110 residential properties were listed for sale in Belmont on April 30, 2009. The lowest priced property was listed for $215,000, the most expensive for $2,595,000. Average days on market was 137.

Closed Real Estate Sales in Belmont MA in April:

19 properties sold (closed) in Belmont during April with an average sales price of $592,758.    Average days on market was 105.  Properties sold for an average of 96% of list price.  More than twice as many residential properties sold in Belmont in April than in March when nine properties sales closed.

7 Belmont single family homes sold in April for prices ranging from $338,500 to $1,595,000.  The median sales price for a single family home was $600,000.  Average days on market was 123.  Single family houses in Belmont sold for an average of 96% of asking price.

8 Belmont condos closed in April.  The lowest price paid for a condo was $293,422. The most expensive condominium sold in April for $990,000.  Average days on market was 84.  Belmont condos sold for 97% of asking price.

4 Belmont multi-family properties sold in April for prices between $440,500 to $660,000.  Average days on market was 115.  Belmont multi-families sold for 95% of list price.

Total residential sales volume for April was $11,262,402.

 Belmont real estate sales data is from MLSpin.

See also:
January 2009 Real Estate Sales in Belmont MA 
February 2009 Real Estate Sales in Belmont MA  
March 2009 Real Estate Sales in Belmont MA

 

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Watertown Real Estate Market – April 2009

Watertown MassachusettsWondering what’s happening in the Watertown, Massachusetts real estate market?  The numbers are in – here’s a recap of real estate sales in Watertown MA in April 2009.  Keep in mind that sales that closed in April reflect properties that, in most cases, went under agreement some six to eight weeks earlier. 

Real Estate on the Market in Watertown MA

133 residential properties were on the market in Watertown on April 30, 2009. That’s an increase from a month ago when 109 properties were listed for sale in the MLS.  Spring tends to bring the most inventory onto the market.  The lowest priced property was listed for $214,900, the most expensive for $1,395,000. Average days on market was 113. 

Watertown Real Estate Sales in April 2009

21 residential properties sold (closed) in Watertown during April with an average sales price of $373,543.  That’s an increase of 50% from March when 14 sales closed.  The median sales price in April was $380,000. Average days on market was 101.
 
8 Watertown single families sold in April.  The least expensive single family sale was for $283,000.  The highest price paid in April for a Watertown single family was $518,000.  The median price paid was $395,450.  Watertown houses sold for an average of 95% of list price.  Average days on market was 41.
 
11 Watertown condominiums sold in April. The least expensive condominium sold for $212,000.  The most expensive Watertown condo sold in March closed for $495,000.  The median condo sales price was $360,000.  Condos sold for an average of 95% of the asking price.  Average days on market was 148.
 
2 multi-family sales closed in April, for $380,000 and for $425,000.  The multi-families sold for an average of 98% of asking price.  Average days on market was 79. 

 

Total Watertown residential real estate sales volume closed in April was $$7,844,400

 See also:
Watertown MA Real Estate Activity – January 2009
Watertown MA Real Estate Activity – February 2009
Watertown MA Real Estate Activity – March 2009

 

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Arlington Real Estate Market – Real Estate Sales in April 2009

Arlington Massachusetts Real EstateThe Arlington real estate market continues to hum along.  While inventory has increased from last month many properties continue to sell very quickly and more than twice as many properties closed in April than did in March.

Arlington Real Estate Market Statistics for April 2009

Properties Currently on the Market in Arlington Massachusetts

132 residential properties were on the market in Arlington on April 30, 2009. The lowest priced property was listed for $135,000, the most expensive for $1,149,000. Average days on market was 71.

Real Estate Sales in April in Arlington MA

Information about closed residential real estate sales reflects transactions that went under agreement some six to eight weeks before the closing.

28 properties sold (closed) in Arlington during April with an average sales price of $445,846.  The median sales price was $415,500. Average days on market was 77.

13 Arlington single families sold in April.  The least expensive sale was for $380,000. The most expensive house sold for $840,000. The median price for a single family house was $564,000.  Average days on market was 60.  Houses sold for an average of 97% of asking price.

14 condominium sales closed in April. The least expensive condominium sold for $175,000.  The most expensive Arlington condo sold in April closed for $678,000.  The median condo sales price was $319,500.  Condos sold for an average of 98% of the asking price.

multi-family sold in April for $549,000.

Total Arlington residential real estate sales volume closed in April was $12,483,695.

See also:
Arlington Real Estate Sales in January 2009
Arlington Real Estate Sales in February 2009
Arlington Real Estate Sales in March 2009

Information is from MLSpin

 

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Medford Real Estate Market – April 2009

Real Estate Sales in Medford MAHere’s a look at Medford real estate market at the end of April and a review of Medford real estate sales activity in April 2009.

Medford Real Estate – On Market Snapshot

134 residential properties were on the market in Medford on April 30, 2009.   Medford is one of the few communities where more property is going off the market than is coming on.  The lowest priced property was listed for $125,000, the most expensive for $950,000. Average days on market was 131.  The median price of residential property listed for sale was $349,900.

Real Estate Sales in Medford MA in April 2009

35 properties sold (closed) in Medford during April with an average sales price of $315,903.  The median sales price was $300,000. Average days on market was 111. Properties sold for an average of 98% of asking price.

16 Medford single families homes sold in April.  The least expensive sale was for $105,000. The most expensive house sold for $445,000. The median price for a single family house was $299,950.  Average days on market was 121.  Houses sold for an average of 96% of asking price.

12 condominium sales closed in April. The least expensive condominium sold for $195,400.  The most expensive Medford condo sold in April closed for $570,000.  The median condo sales price was $279,450.  Condos sold for an average of 96% of the asking price.  Average days on market was 117.

multi-family sales closed in April.  Multi-families sold for an average of 115% of list price!  That was because many of the mult-family sales were foreclosures that sold for significantly more than the asking price.  The lowest sale price for a multi-family home was $252,000.  The highest price paid was $560,000. The median sales price was $333,000. .  Average days on market was 78. 

Total Medford residential real estate sales volume closed in April was $11,056,600.

Also see:  

Information based on residential sales data in MLSpin

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Cambridge Real Estate Market – Two Bedroom Cambridge Condos

1010 Memorial Drive Cambridge MACambridge real estate buyers often decide that a condo is the best option for them.  With an average sale price of over $1,000,000 houses in Cambridge are expensive.  Condos offer other benefits beyond price including shared responsibility for upkeep and maintenance in small associations or perhaps a management company that handles the day to day upkeep for condo owners. Many first time buyers are looking for two-bedroom condominiums.  Here’s a look at recent activity in the Cambridge real estate market.  All information is from MLSpin.

Two-Bedroom Cambridge Condos – the Cambridge Real Estate Market in 2009 

Since January 1, 2009: 

  • 51 two-bedroom condos sold in Cambridge
  • Average sale price of a two-bedroom condo: $450,624
  • Median sale price of a two-bedroom condo: $418,000
  • Average price per square foot: $433
  • Two-bedroom Cambridge condominiums sold on average for 97% of asking price
  • Average days on market: 93

Cambridge condos with two bedrooms sold since the beginning of 2009 for prices ranging from $204,000 to $1,250,000. Actually one sale, the most expensive of the lot, was in co-op ownership.

What You Get for The Money in 2009 – Cambridge Two Bedroom Condos and Co-ops 

For $204,000 a four room, two-bedroom, one bath, 835 sq. ft. condo sold on Willow Street, near Inman Square.  The condo was on the second floor of a three-unit building and in need of renovation.

For the median price of $418,000, a five room, two bedroom, 1.5 bath condo in a newly renovated triple-decker sold on Wood Street.  This 969 sq.ft. second floor condo had central air conditioning , in-unit washer and dryer, and one parking space.

The most expensive two-bedroom sale in 2009 to date, was an 1870 sq.ft. unit in co-op ownership on the sixth floor of 1010 Memorial Drive, the high rise pictured above, that sold for $1,250,000 in March 2009.  Cambridge has a handful of buildings in co-op ownership. This unit had three bathrooms, garage parking, and stellar views of the Charles River which could be enjoyed from the enormous living room.

Two-Bedroom Condos – Cambridge Real Estate Options

Cambridgeport Condo BuildingMany Cambridge condos are in converted two and three-family houses.  Others can be found in converted industrial buildings like the one on Brookline Street pictured at right.  Many condos are in brick buildings built between 1900 and 1930.  Other units are in high rises built in the 1960s to 1980s or in newer complexes built in the last few years.   Of the 51 condos that have sold since the start of the year:

  • Six condos were in two-family houses
  • Ten condos were in three-family houses
  • Nine condos were in buildings with 4 – 8 units
  • Fifteen condos were in buildings with 12 – 24 units
  • Eleven condos (actually 10 plus that one co-op!) sold in larger complexes with 31 – 436 units 

Last year there were 161 two-bedroom condos on the real estate market in Cambridge on April 28th.  Today there are 165 two-bedroom condos for sale in Cambridge.  Average days on market for two bedroom Cambridge condos was 149 a year ago, now it is 111.  Search for Cambridge condominiums here:

SEARCH THE MLS FOR CAMBRIDGE CONDOS

And if you would like more information about the Somerville real estate market see:

Somerville Two-Bedroom Condos

 And for more information about the Cambridge real estate market including Cambridge condos, single families and multi-family sales see:

Cambridge Real Estate Market Monthly Report

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Somerville Two-Bedroom Condos – Condominiums In Somerville MA

Many Somerville Condos Are in Three-Families

Many Somerville Condos Are in Three-Families

In the real estate market in Cambridge and Somerville, condos are often the best option for first time homebuyers.  In Cambridge the average sales price for a single family home in the last 12 months was $1,140,675 – well out of range for first time buyers. In Somerville, during the last twelve months single family houses sold for an average of $434,626. Somerville real estate buyers, however, will find that condos are in better condition, are usually more updated, or in a better location than a similarly priced house in Somerville.

The 2009 Two-Bedroom Condo Market in Somerville MA

Many first time buyers are looking for a two-bedroom condominium.  Since January 1, 2009:

  • 19 two-bedroom condos sold in Somerville
  • Average sale price of a two-bedroom condo: $410,983
  • Median sale price of a two-bedroom condo: $403,000
  • Average price per square foot: $325
  • Two-bedroom Somerville condos sold on average for 97% of asking price

Sale prices of two bedroom condominiums sold in Somerville since the beginning of 2009 ranged from $265,000 to $639,500.

What You Get for The Money in 2009- Somerville Two-Bedroom Condos 

For $265,000 a five room, two-bedroom, 1.5 bath, 1114 sq. ft. condo sold in East Somerville on Myrtle Street, not far from Union Square.  The condo was a townhouse, part of an 18-unit association built in 1989.  There was parking for two cars, an 80’s era kitchen, private patio, and finished basement.  Seems like a good deal!

Right in the middle of the pack, for the median price of $403,000, a six room, two-bedroom, 1 bath condo sold on Electric Avenue (can’t you just hear the song in your head?) near Teele and Davis Square.  This 1074 sq.ft. condo was on the first floor of three-family that had been renovated and converted to condominiums in 2003.  The condo had central air conditioning and there was a garage space plus additional driveway parking.

The most expensive two-bedroom condominium sale in 2009 to date, was a beautiful six room, two-bedroom, two bath condo on the upper two floors of a two-family on Lexington Avenue between Davis and Porter Square that sold in January for $635,000.  The house was built in 1900 and gut-renovated and converted to condos in 2004.  The house backs up to the bike path. The 2097 sq. ft. condo had an open floor plan, granite and stainless steel kitchen, central air conditioning, a fireplace, several decks, in-unit laundry, and parking for two cars.

Two-Bedroom Condos – Real Estate Options in Somerville MA

Many Somerville condos will be found in converted two and three-family houses.  Other units, townhouses and flats, will be found in larger condo buildings built in recent years or during the last boom in the 1980s.  Somerville also has a number of loft condo buildings and one of the condos sold this year was a live/work loft for artists near Davis Square that sold for $585,000.  Of the 19 condos that have sold since the start of the year:

  • Two condos were in two-family houses
  • Seven condos were in three-family houses
  • Ten condos sold in larger complexes with 6 – 21 units 

Last year there were 106 two-bedroom condos on the market in Somerville on April 22nd.  Today there are 72 two-bedroom condos for sale in Somerville.  Search for one here:

Search for Somerville Condos

 

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