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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...

Sep 5 3 minutes read

3 Crawford St. Unit 9

Top floor 1-BR in Mid Cambridge

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3 Crawford 9 Cambridge

58-60 Elmwood Street

Two-family with parking + yard on doorstep of Davis Square in Somerville

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58-60 Elmwood Street, 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, Cambridge, MA
9 Bellis Circle Unit 4

Sold for $950,000 on Aug. 10, 2022. Listed by Charles Cherney and Maggie Dee.

179 Chestnut Street Unit 3, Cambridge, MA
179 Chestnut Unit 3

Sold for $686,500 on Aug. 23, 2022. Listed by Charles Cherney.

318 Rindge Ave Unit 112, Cambridge, MA
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, Somerville
37 Marion Street

Sold for $865,000 on Aug. 26, 2022. Listed by Charles Cherney.

41 Lowell Street, Somerville, MA
41 Lowell Street

Sold for $800,000 on Aug. 25, 2022. Listed by Charles Cherney.

39 Jay Street Unit 3, Somerville, MA
39 Jay Street Unit 3

Sold for $978,000 on Aug. 25, 2022. Listed by Charles Cherney.

Cambridge Highlands neighborhood of Cambridge

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Living in Davis Square, Somerville

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5 Mistakes Buyers make in Cambridge + Somerville, MA

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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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