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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 – January – October 2011

Cambridge MA Real Estate Market

Cambridge MA Real Estate Market

How’s the real estate market in Cambridge?  People are always asking.  Let’s pause a moment, before we head into the holidays, and look back to see what kind of year we’ve had so far.  Here’s a review of Cambridge MA real estate market activity for January through October 2011.

For comparison, the numbers for the same period in 2010 are in parentheses.

2011 looks a lot like 2010 in the Cambridge real estate market.  The number of properties sold is up by 3% despite the low inventory.  The median price has barely budged for the market as a whole and the average time it takes to sell is unchanged.  Median price changes by property type may be due to the mix of what’s been available for sale.

On October 31, 2011, 221 properties were listed for sale in Cambridge.  That’s a huge drop in inventory levels from last year at this time when 373 residential properties were on the market.  Cambridge real estate agents have been grumbling about low inventory and with numbers like these  it’s no wonder that buyers are having a challenging time finding what they want.

Residential real estate sold in Cambridge – Jan-Oct 2011 (2010)

  • 743 properties sold (720)
  • Average days on market = 79 (78)
  • Properties sold for an average of 97%  of asking price (97%) 
  • Median price of $465,000 ($462,000)

Cambridge Single Family Sales – Jan-Oct 2011 (2010)

  • Total sold: 94 (95 )
  • Sale prices ranged from $280,000 – $3,750,000  ($275,000 – $4,250,000)
  • Median price: $844,250  ($862,500)
  • Average days on market: 74  (70)
  • On average, houses sold for 97% of asking price   (97% )

Cambridge Condo Sales – Jan-Oct 2011 (2010)

  • Total sold: 600  (569)
  • Sale prices ranged from $164,000 – $3,450,000 ($175,500 – $4,250,000)
  • Median price: $423,875  ($430,000)
  • Average days on market: 81  (81)
  • On average, condos sold for 97% of asking price   (98%)

Cambridge Multi-Family Sales – Jan-Oct 2011 (2010)

  • Total sold: 49  (56)
  • Sale prices ranged from $282,000 – $1,900,000  ($200,000 – $6,651,100)
  • Median price: $775,000  ($707,500)
  • Average days on market: 69  (71)
  • On average, multi-unit houses sold for 97% of asking price  (96% )



Info about Cambridge MA real estate market in 2011 (2010) from MLSpin

Categories: Real Estate Market Info

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