When I was checking the hotlist today for properties new to the market I noticed a number of newly listed Cambridge one-bedroom condos.
Whether you’re trying to get a toehold in the Cambridge real estate market with your first place, looking for a city getaway, or seeking a place to call home while you’re in school in Cambridge for a few years, you’ll want to check out this week’s one–bedroom condos in Cambridge. And best to act fast – this spring there’s a “blink and it’s gone” pace to the market.
Over the last six months one-bedroom condominiums in Cambridge have sold for a median price of $439,800 and a median price per square foot of $530. Both of those figures probably skew a bit high because of the large number of luxury condos at Northpoint in the mix.
The condos that caught my eye that are included below range in size from 542 to 798 square feet and are priced from $325,000 to $409,000. They’re in a variety of building types that give a good idea of what you’re likely to find in Cambridge – the buildings date from the 1870s to the 1970s with most built around the turn-of-the-century. Asking price per square foot ranges from $437 to $755 with a median price per square foot of about $510. Four of the six have a parking space. The condos are all over town – from North Cambridge to Cambridgeport, to Riverside, Central Square and Harvard Square.
Click on the small photos below for additional photographs and more information. See something you like? Give me a call and we can make a plan to see one or all.
Liz Bolton, ReMax Destiny, Cambridge. 617-504-1737 [email protected]
New listing alert! This condo in Central Square at 13 Worcester St Cambridge MA will be coming on the market this week.
13 Worcester Street is a handsome triple decker on a street lined with restored houses, just a couple of blocks from the heart of Central Square.
Unit 1 has two bedrooms and a flexible layout with bright and open entertaining spaces, an updated kitchen with lots of counter space, a small deck, laundry and storage in the basement, and a parking space.
Professional photographs will be taken tomorrow and I’ll upload them on the Featured Properties page as soon as I get them. Showings will begin later this week and we’ll have open houses scheduled for the weekend of April 6/7.
13 Worcester Street in Cambridge MA will be listed for $449,000.
Last week, as part of our weekly tour, ReMax Destiny agents headed over to NorthPoint Cambridge. Condos at NorthPoint have been selling like hotcakes so we were excited to get a presentation about the development and to tour a number of condos. Amy Clements, Sales Director at NorthPoint, and a representative from the development group spoke to us about what’s in the works.
NorthPoint Cambridge is a 45-acre parcel. A former railyard, the property will be transformed into a new Cambridge neighborhood featuring a 10-acre park at its center. It will be a mixed use community with residential space – both apartments and condos, office and lab space, retail establishments, and a public transportation stop once the Lechmere Green Line T stop is relocated to NorthPoint.
Development stalled at Northpoint Cambridge in 2007 when the original owners became embroiled in a court battle. The project is back on track after new investors, including former LA Laker Magic Johnson, took over in 2010. Condos at NorthPoint are now selling like hotcakes with more than 30 contracts signed in January 2013.
Plans for North Point include a total of twenty buildings. There will be three million square feet of residential space, 2700 residential units in total. The next phase of development at NorthPoint Cambridge will be a 20-story, 355 unit luxury apartment building. That building will include:
- 8000 sq. ft. of retail space
- “Click cafe”
- Basketball court
- Outdoor lounge / bar for residents
Today the condominiums at North Point are in two buildings, constructed in 2008. 1 Earhart (formerly called Sierra) and 2 Earhart Street (formerly called Tango) have over 300 units between them. The smaller building, One Earhart / Sierra, has 99 condos. Two Earhart / Tango has 230 units and includes a 12-story tower. Many of the condos are two-level loft style units.
When we toured the development last week 78% of the condos had sold and closed. 86% were sold or under agreement. Given the pace of sales those numbers have probably changed by now.
Northpoint Cambridge Condos Feature
- Condo fee includes heat and hot water
- 24/7 concierge with a desk in 2 Earhart
- On site building manager
- Bamboo floors
- Central air conditioning
- In-unit laundry hookup
- Some condos have a patio, deck or Juliet balcony
- Stylish finishes, fixtures and appliances including Arclinea cabinets, Phillipe Stark Duravit sinks, and Bosch dishwashers
- Two pets allowed – no breed or weight restrictions
Residents at NorthPoint have easy access to the Green Line at Lechmere and to the Orange Line at the Bunker Hill stop. The EZRide bus service stops at North Point and continues to Kendall Square, MIT and North Station. Boston is a hop, skip and a jump away and the Charles River is just down the street.
Here are some of the condos for sale at NorthPoint Cambridge. There may be others available – to see all the options we need to visit the development. If you’d like more info or want to see condos at NorthPoint I would be happy to arrange for a presentation and tour. Amy Clements, the Sales Director at NorthPoint, explained that she is happy to work with other agents – so having an agent represent you will not be an issue and will not mean that you pay any more. Give me a call at 617-504-1737 or email me at [email protected] and we’ll explore NorthPoint together. Liz Bolton, ReMax Destiny
Are you having trouble finding a Cambridge condo to buy? No wonder – inventory is at record lows. Here’s how the numbers looked at this time of year over the last decade:
2003 . . . . . 151 condos listed for sale on February 5th
2004 . . . . . 127
2005 . . . . . 225
2006 . . . . . 321
2007 . . . . . 265
2008 . . . . . 287
2009 . . . . . 243
2010 . . . . . 174
2011 . . . . . 182
2012 . . . . . 92
2013 . . . . . 86** **Only 64 condos are actually available for sale
Ouch. There are 86 Cambridge condos listed in the MLS for sale right now. But actually only 64 are available for purchase. 22 are what we call “Red Active” – the condos have an accepted offer and are under agreement. The listing agents and sellers are continuing to market the condos but the agent view in the MLS shows the status in red indicating that the property is under agreement.
So there are only 64 condos for sale right now in Cambridge – less than half of what was for sale in every other year this past decade aside from 2012 when 92 condos were listed for sale on February 5th.
But the inventory is even tighter than that number suggests – particularly if you don’t want to live in a modern building in East Cambridge. 21 of the 64 condos listed for sale are at NorthPoint and 10 more are scattered among the other luxury buildings in East Cambridge – the Esplanade, Thomas Graves Landing, the Glass Factory, River Court, the Regatta and One First.
These are beautiful condos in the East Cambridge buildings but if that’s not the style or location you’re looking for there are just 33 condos currently available anywhere else in Cambridge. Seven of these are priced at more than $1,000,000.
So what’s a buyer to do?
You really need to have your ducks in a row and your team in place. If properties do come on the market in your price range make sure you see them so you can start to get an idea of what’s possible. You’ll want to get preapproved by a reputable lender so you’ll know what your price range is and so you’ll be ready when you do want to make an offer. Find an agent with whom you feel comfortable working. It’s more important than ever that you work with an excellent real estate agent. An experienced agent’s advice and help with strategy is critical in a market as competitive as this. Make sure you share all the details of your wish list – and its refinements over time – with your agent so that she can keep an eye and ear out for any new listings that might be a match. And try to be available to get out to see places as quickly as possible.
If you’re a seller this is an excellent time to put your property on the market.
Conventional wisdom may be that listing your home for sale in spring is optimal but it’s difficult to recall a better time than right now to sell a property. Buyers are out in force and you’ll have little competition. If your property is priced right – and pricing remains an important factor – and marketed well you may receive multiple offers and be able to select an offer with excellent price and terms. Now is not the time to sell your property to the neighbor knocking on your door or to buyer calling you on the phone because your house didn’t sell a few years ago. If one person wants your house it’s a good bet that if your house is put on the market there will be multiple interested buyers.
Whether you’re interested in buying or in selling I would be happy to discuss what’s possible in this market. Please give me a call at 617-504-1737 or email me at [email protected]. Liz Bolton, ReMax Destiny
A recent line in the New York Times caught my eye the other day. It seems that the average price per square foot for a condo at One57 in Manhattan – aka the Billionaires Building – aka the building-with-the-collapsed-crane – is $6,500. $6,500 to own a square foot of New York City. Yowza! Turns out that that’s not the most expensive real estate in NYC – I found at least one reference to a sale for twice that or $13,000 per square foot.
What’s the highest price per square foot in Cambridge I wondered?
In the last three years only four buildings in Cambridge commanded a price per square foot of more than $1,000. Only 14 properties of the 2,556 condos or houses – just over 1/2 of 1% – sold in Cambridge sold for more than $1,000 per square foot in the last three years. The buildings with the highest price per square foot in Cambridge are:
University Green at 130 Mount Auburn Street (3 condos sold)
The Esplanade at 75-83 Cambridge Parkway (3 condos sold)
The Residences at Charles Square at 975 Memorial Drive (7 condos sold)
1010 Memorial Drive (1 co-op sold)
These Cambridge buildings that command the highest price per square foot are all full-service luxury buildings. Three of the four are on the Charles River. University Green and Charles Square are right in Harvard Square.
For these 14 Cambridge properties, the price per square foot ranged from $1,003 to $1,516. That’s the top price you’ll pay in Cambridge but in NYC it’s an average price – or more precisely the median price – which ranged from $1,129 to $1,592 per square foot in New York City’s most expensive neighborhoods. In Cambridge, a relative bargain by New York City standards, this year the median price per square foot for condos was approximately $468.
When you search for properties that have sold for more than $1,000 per square foot in Cambridge in the last few years your search will return only condos and co-ops. You have to search further back to find any houses that sold at this price point. Two single family houses, one in 2003 and one in 2006, sold for more than $1,000 per square foot. Both were in the Brattle Street neighborhood of West Cambridge. A couple of other houses commanded a price per square foot in this range but the price was clearly based on the land, not the structure.
Wondering what’s for sale in Cambridge’s most expensive buildings? Here are condos currently listed for $750,000+
Photo of the collapsed crane at One57 courtesy of Sarah_Ackerman.
New to the market, 369 Franklin Street Unit 101 in Cambridge offers a rare combination – a condo in a modern elevator building with its own exclusive use yard and patio.
After looking for several months with a Cambridge real estate buyer this year, I know how difficult it is to find a modern Cambridge condo with *any* outdoor space – even a small balcony to call your own. 369 Franklin Unit 101 is truly exceptional with sliders from the living room to a private patio and a yard space that extends the depth of the building.
Inside, the condo has one bedroom plus a second that’s been converted to an office with a beautiful built-in desk. The condo has bamboo floors, central air conditioning, in-unit laundry, a garage parking space, and a kitchen with Corian counters, a gas stove, and plenty of cabinets. The building is extremely energy efficient and has an elevator and a small penthouse exercise room with a great Boston skyline view. It’s a pet friendly building with one household pet allowed and a second with trustee approval.
Listed at $489,000 by Elizabeth Bolton – that’s me! – 369 Franklin Street Unit 101 can be shown by appointment or at several open houses this week. Call me for more information at 617-504-1737 or click on the Contact button above to send me an email.
It felt like we were in New Orleans yesterday on our weekly tour – awesomely hot and humid. Though it’s mid-summer the real estate market continues to hum and we had a great selection of new to the market Cambridge and Somerville properties on tour.
Two of my favorites:
A recently built single family house at 16 Churchill Ave in Cambridge was a real surprise. We don’t get to see many new construction single family houses in Cambridge. Buyers will appreciate the open floor plan, gorgeous kitchen, first floor bedrooms, and direct access garage. The house sparkles – even the garage floor gleams. 16 Churchill Ave is newly listed by Bill Patterson for $874,900.
The location of 12 Elston Street in Somerville can’t be beat – smack dab in Davis Square and just down the street from Porter Square. It’s a two-family with really nice original features and a third floor that’s been opened up with vaulted ceilings. 12 Elston Street Somerville is listed by Terry Drucker for $895,000 and sure to be popular.
Wondering about how to navigate this market as a buyer or seller? Give me a call – I’d love to help. Liz Bolton, ReMax Destiny, Cambridge – 617-504-1737.
Here’s what we saw on tour yesterday. To get more info about these newly listed Cambridge and Somerville properties click on the small photo:
Are you looking for a condo near Harvard? Hoping to find garage parking? Central air conditioning? An elevator building? You’ll find all this and much more at a newly listed condo near Harvard in Kirkland Village at the Cambridge / Somerville line.
This four room, one-bedroom condo with a study is less than a half mile from the heart of the Harvard campus. 97 Kirkland Street Cambridge (aka 435 Washington Street Somerville) is in Kirkland Village and Savenor’s Market, Dali, the Wine and Cheese Cask, The Biscuit and more are just outside your door.
You’ll be able to check off all the items on your wish list including hardwood floors, in-unit washer and dryer, air conditioning, an elevator, garage parking, stainless steel appliances and granite counters in the kitchen, and a private balcony.
Unit 206 at 97 Kirkland Street Cambridge is new to the market at $349,000. You won’t find a nicer condo near Harvard for the price.
For more information, please call Liz Bolton of ReMax Destiny- that’s me! – at 617-504-1737 or come by the open house on Saturday or Sunday, July 7 and 8, 2012 from noon to 1:30 pm.
Unit 206, 97 Kirkland Street, Cambridge MA in the 97 Kirkland Condo Association, is taxed in Somerville as 435 Washington Street.