Cambridge MA Real Estate Market - 2010 - Year In Review | Centers And Squares

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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 MA Real Estate Market-2010-Year In Review

 It’s good to see, when we tally the end of year numbers, that there was improvement in the Cambridge real estate market in 2010. The total number of properties sold rose modestly while the total dollar volume rose by over 10%. 

Much of the improvement came in the single family sector. The number of single family houses sold increased by 15% over 2009’s sales and the median price rose by more than 10%.

Condo sales dipped ever so slightly.  The median price rose about 3%.

Multi-family sales were robust – increasing by more than 15%  over the number sold in 2009.  The median price increased by 3%.

Cambridge Real Estate Year In Review

Welcome to the Cambridge MA Real Estate Review

Welcome to the Cambridge MA Real Estate Review

Total properties sold in Cambridge:

  • In 2010: 851 (+2.41%)
  • In 2009: 831 (-8.38%)
  • In 2008: 907

Average days on market:

  • 2010: 80 days
  • 2009: 79 days
  • 2008: 91 days

Total value of real estate sales:

  • 2010: $528,083,938 (+13.78%)
  • 2009: $464,152,012 (-10.12%)
  • 2008: $516,395,918

Properties sold for:

  • 2010: An average of 97% of the list price. The median price was $465,000 (+5.69%)
  • 2009: An average of 97% of the list price. The median price was $440,000 (-0.91%)
  • 2008: An average of 97% of the list price.  The median price was $444,000

Cambridge Single Family Sales

  • 2010: 127 (+15.46%)
  • 2009: 110 (+0.92%)
  • 2008: 109

Price range for single family homes:

  • 2010: $275,000 to $4,250,000
  • 2009: $260,000 to $4,850,000
  • 2008: $240,000 to $4,921,500

Median price of single family houses sold:

  • 2010: $862,500 (+13.31%)
  • 2009: $761,250 (+.83%)
  • 2008: $755,000

On average, single families:

  • In 2010: houses were on the market 72 days & sold for 97% of list price
  • In 2009: houses were on the market 86 days & sold for 97% of list price
  • In 2008: housess were on the market 85 days & sold for 97% of list price

Cambridge Condo Sales

  • 2010: 660 (-0.91%)
  • 2009: 666 (-10.97%)
  • 2008: 748

Price range for condos:

  • 2010: $135,000 to $4,250,000
  • 2009: $172,500 to $1,990,000
  • 2008: $150,000 to $2,800,000

Median price of condominiums sold:

  • 2010: $427,750 (+3.08%)
  • 2009: $415,000 (+.25%)
  • 2008: $414,000

On average, Cambridge condos:

  • In 2010: were on the market 82 days and sold for 97% of asking price
  • In 2009: were on the market 78 days and sold for 97% of asking price
  • In 2008: were on the market 92 days and sold for 97% of asking price

 Cambridge Multi-Family Sales

  • 2010: 64 (+16.37%)
  • 2009: 55 (+10.0%)
  • 2008: 50

Price range for multi-family properties:

  • 2010: $200,000 to $6,651,100
  • 2009: $352,351 to $1,095,000
  • 2008: $340,000 to $1,450,000

Median price of multi-family houses sold:

  • 2010: $717,478 (+3.24%)
  • 2009: $695,000 (-7.46%)
  • 2008: $751,000

On average, Cambridge multi-families:

  • In 2010: were on the market 76 days and sold for 95% of list price
  • In 2009: were on the market 72 days and sold for 96% of list price
  • In 2008: were on the market 98 days and sold for 95% of list price

 Here’s the last of our monthly reports for 2010 with December’s numbers:

Cambridge MA Real Estate On the Market – Dec. 31, 2010

On the last day of 2010  there were  220 homes listed for sale in Cambridge, significantly fewer than just one month before.  Relatively few properties come on the market in December but properties continue to go under agreement and other sellers take their homes off the market.  

Cambridge MA Real Estate Sold in Dec. 2010

68 homes sold in Cambridge during December – an increase of more than 10% over last month’s sales.  Properties sold for $220,000 to $3,433,000.     

20 single family homes sold last month for prices ranging from $329,900 to $2,500,000.  Average days on market was 88 and these houses sold on average for 97% of the asking price.  The median sales price was $873,250.

45 condos sold in Cambridge MA in December 2010 priced between $220,000 to $2,100,000.  The median price was $450,000.  Condominiums sold on average for 96% of the asking price and were on the market an average of 92 days.

3 multi-family houses sold in December for $800,000, $885,000 and $3,433,000.  These houses sold for an average of 92% of asking price. Days on market ranged from 79 to 371.

The total value of Cambridge MA real estate sold in December 2010 was $50,938,400.

Also see:

Cambridge MA Real Estate Market – Nov 2010

SEARCH FOR CONDOS FOR SALE IN CAMBRIDGE MASS

SEARCH FOR SINGLE FAMILY HOMES FOR SALE IN CAMBRIDGE MA

 

Information about the Cambridge MA real estate market in 2010  from MLSpin.

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