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As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.

Cambridge By The Numbers: The Cambridge Real Estate Market in February 2009

Cambridge Real Estate MarketOn the real estate calendar spring starts early.  Some say the beginning of the spring market is January 2nd, others insist the kickoff is the day after the Super Bowl.  One thing’s for sure – there are a lot of great properties coming on the market in Cambridge and buyers are out and about.
Closed sales information reflects activity from two months ago since the average real estate transaction closes about six to eight weeks after a property goes under contract.  Here’s the sales data for February:

306 properties were on the market in Cambridge on February 28, 2009. The lowest priced property was listed for $199,000, the most expensive for $4,850,000. Average days on market was 134.

25 property sales closed in Cambridge during February with an average sales price of $647,500.  The median sales price was $510,000. Average days on market was 89.

Three single family sales closed in February – for $538,000, $895,000 and $3,700,000.

18 condos closed in February. The least expensive condominium sold for $317,000.  The most expensive condo sold for $660,000.  The median condo sales price was $424,500.  Condos sold for an average of 97% of the asking price.

Four multi-family sales closed in February. The lowest sale price for a multi-family was $500,000.  The highest price paid was $820,000. The median sales price was $712,500. Multi-families sold for an average of 96% of list price.

Total Cambridge closed residential real estate sales volume in February was $16,187,500.


Also see:   Cambridge Real Estate Sales Activity in January 2009

Information based on residential sales data in MLSpin.

Categories: Real Estate Market Info

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