October 2018 Market Report

Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...

145 Lakeview Avenue, Cambridge

Two-family on nearly a quarter acre in West Cambridge outside Huron Village. Listed for sale with Charles Cherney.

21 Dudley Street Unit 2, Cambridge

Second floor two-bedroom residence with front porch and back deck in North Cambridge. Listed for sale with Charles Cherney and Maggie Dee Spencer.

5 Fremont Avenue, Somerville

Diamond in the rough. Single family next to Lincoln Park outside Union Square. Now under accepted offer. Listed for sale with Charles Cherney.

7 Florence Street Unit 6, Cambridge

Top floor one-bedroom plus study in Cambridgeport. Now under accepted offer. Listed for sale with Charles Cherney.

33 Pitcher Avenue, Medford

Single family in West Medford. Listed and sold by Maggie Dee Spencer of the Charles Cherney Team.

Cambridge Market Stats for October 2018

92

Homes for sale as of Oct. 31

64

Homes sold in October

86

New listings in October

16

Average days to offer

$1,480,125

Average sale price

105%

Avg. sale to list price

Click here to see all the sales in Cambridge in October.

See below for three noteworthy sales in Cambridge in October.

102 Lakeview Avenue

Sold for $2,500,000 on October 26, 2018.
Listed by Carol Kelly Team of Compass.

24 Grozier Road

Sold for $975,000 on October 19, 2018.
Listed by Jan and Kayla of Compass.

320 Rindge Avenue Unit 205

Sold for 739,000 on October 3, 2018. Listed and sold by Charles Cherney.

Somerville Market Stats for October 2018

146

Homes for sale as of Oct. 31

69

Homes sold in October

94

New listings in October

24

Average days to offer

$969,889

Average sale price

101%

Avg. sale to list price

Click here to see all the sales in Somerville in October.

See below for three noteworthy sales in Somerville in October.

60 Tufts Unit 3

Sold for $640,000 on October 31, 2018.
Maggie Dee Spencer of the Charles Cherney Team as the buyer's agent.

88 Properzi Way

Sold for $1,600,000 on October 23, 2018.
Listed by Barbara Currier of CBRB.

44 Ivaloo Street Unit 1

Sold for $770,000 on October 12, 2018.
Listed and sold by Charles Cherney.

Charles Cherney Team at Curaytor Excellence

Curaytor powers our website and marketing. The 2018 Curaytor Excellence Conference was held in Boston in mid-October, and the entire Charles Cherney Team was in attendance. Wonderful to be with and learn from top agents from all across North America.

Checking in with Charles

The number of homes for sale in Cambridge and Somerville has increased. And not everything is selling right away with multiple offers. Is the market shifting? It's too soon to say. I think the jury will be out until the spring market of 2019. Given that the average sale price in both cities is over 100%, even a cooler market will be expensive on average. Check out my Q3 2018 Market Report for more information.

Grateful for the opportunity to attend the Curaytor Excellence Conference in Mid-October with my team. Keynote address by Phil M. Jones - about the power of the words we use - a conference highlight.

In late October, I attended a wedding with my wife and our daughter in Easton, Maryland. Good to know my one suit still fits! Great to get away for a few days. That said, it's always nice to come home.

My Vespa is now in winter storage. Storing my scooter and putting back the clock an hour and turning on the heat are all signs November is here and the holidays are coming.