August 2022 Market Report
Charles Cherney
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
58-60 Elmwood Street
Two-family with parking + yard on doorstep of Davis Square in Somerville
Cambridge Market Stats for August 2022
105
Homes for sale on 8/31
80
Homes sold in August
62
New listings in August
26
Average Days to Offer
$1,643,354
Average Sale Price
100%
Avg. Sale to List Price
Click here to see all the sales in Cambridge in August
See below for three noteworthy sales in Cambridge in August
9 Bellis Circle Unit 4
Sold for $950,000 on Aug. 10, 2022. Listed by Charles Cherney and Maggie Dee.
179 Chestnut Unit 3
Sold for $686,500 on Aug. 23, 2022. Listed by Charles Cherney.
318 Rindge Ave Unit 112
Sold for $785,000 on Aug. 12, 2022. Listed by Charles Cherney.
Somerville Market Stats for August 2022
133
Homes for sale on 8/31
94
Homes sold in August
59
New listings in August
19
Average Days to Offer
$906,850
Average Sale Price
100%
Avg. Sale to List Price
Click here to see all the sales in Somerville in August
See below for three noteworthy sales in Somerville in August
37 Marion Street
Sold for $865,000 on Aug. 26, 2022. Listed by Charles Cherney.
41 Lowell Street
Sold for $800,000 on Aug. 25, 2022. Listed by Charles Cherney.
39 Jay Street Unit 3
Sold for $978,000 on Aug. 25, 2022. Listed by Charles Cherney.
Cambridge Highlands neighborhood of Cambridge
Living in Davis Square, Somerville
5 Mistakes Buyers make in Cambridge + Somerville, MA
Checking in with Charles
Some relief from the heat in August, both in terms of the weather and the market. A more balanced market is emerging, something we have not seen since 2012. It's not uncommon now for a buyer to make an offer with standard contingencies and to negotiate. And for a property to be on the market for 30+ days instead of 30 seconds. And so it goes. We shall see what higher interest rates means.
Nice to have our daughter home with us for most of the month August before heading back out to Claremont, CA for her sophomore year at Pomona College. Time flies! Already looking forward to seeing her at Thanksgiving.
The Charles Cherney Team at Compass is here to help you. Our mission is to help you buy the right home and sell for the best price – and to answer your questions about the market, your home, and the community. Our work is our calling. Reach out at any time!
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