Cambridge and Somerville Appreciation
Average sale price in both Cambridge and Somerville, Massachusetts has been steadily rising over the last five years.
On a regular basis, I am creating market snapshots about the Cambridge and Somerville real estate markets. I hope that you find these valuable. There is, of course, always more to the story. Reach out at any time for more information. We're here to help you.
Average sale price in both Cambridge and Somerville, Massachusetts has been steadily rising over the last five years.
As of December 7, 2018, only 75 residential properties listed for sale in Cambridge, MA in MLS. Nearly two-thirds of the listings are condos.
Only 75 properties for sale in Cambridge as of December 7, 2108. That is not a lot, but it is more than were for sale on the same date last year.
The trend each year is for the number of Cambridge residential sales (condos and singles and multis) to rise in the spring market, and then rise again in the fall. In the last several years, the total number of transactions each year has been decreasing.
Average sale price of a condo in Cambridge in 2018 is up 10% year to date, as of December 7, 2018.
Average sale price of a single family in Cambridge in 2018 as of December 7, 2018 is $1,955,901. Sale price averaging 6% over the list price. Very few single families now for sale in Cambridge.
Average sale price of a one bedroom condo in Cambridge in 2018 is more than $600,000. Sale price averaging 3% over the asking price.
As of December 7, 2018, there is more for sale than at this time last year. Overall, inventory is up 74%. Mainly it is more condos - 105 for sale as of 12/7/18 compared to 28 on 12/7/17.
Average sale price of a condo in Somerville in 2018 is up 10% year to date, as of Dec. 7, 2018.
Average sale price of a one-bedroom condo in Somerville as of Dec. 7, 2018 is more than $548,843. Sale price averaging 3% over the asking price.
Average sale price of a 2-BR condo in Somerville through December 7, 2018 is $735,562. $600,000 to $799,999 is the heart of the 2-BR market in Somerville - 105 sales in this price range.
Average sale price of a 3-BR condo in Somerville in 2018 is over $945,317 and up 11% year to date, as of Dec. 7, 2018.
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