Cambridge Real Estate Market – Two Bedroom Cambridge Condos

Cambridge 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

Many 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

Categories: Real Estate Market Info
Tags: Cambridge, Cambridge Condos

This entry was posted on Tuesday, April 28th, 2009 at 7:30 pm and is filed under Real Estate Market Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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