Cost of Living in Cambridge in 2020: Single Families
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...
How much does a single family cost in Cambridge, MA?
At the end of 2012, the average cost of a single family in Cambridge, MA was $1,195,111.
At the end of 2015, the average cost of a single family in Cambridge, MA was $1,518,970.
At the end of 2018, the average cost of a single family in Cambridge, MA was $1,935,212.
If we look at the five quarters beginning January 1, 2019 and ending March 31, 2020:
The average sale price of a single family in Cambridge, MA at the end of this period of time was $2,233,215.
120 single family sales in Cambridge, MA during this period of time (1/1/19-3/31/20):
• 20 Sales between $500,000 and $1M (17% of Cambridge single family sales)
• 53 Sales between $1M and $2M (44% of Cambridge single family sales)
• 37 sales between $2M and $5M (31% of Cambridge single family sales)
• 10 sales for $5M+ (8% of Cambridge single family sales)
The heart of the single family market in Cambridge is between $1`M and $5M, with 75% of all single family sales in this price range.
Here are four single family sales from this period of time to give you a better sense of the cost of a single family market in Cambridge, MA:
Sold for $850,000 ↓↓↓↓↓ (Bungalow near Danehy Park)
Sold for $960,000 ↓↓↓↓↓ (Fixer-upper near Fresh Pond)
8 Corporal Burns Road, Cambridge MA
This single family listed and sold by Charles Cherney
Sold for $1,277,500 ↓↓↓↓↓ (TH near Harvard Square)
1 Ellery Place, Cambridge MA
This attached single family listed and sold by Charles Cherney
Sold for $2,550,000 ↓↓↓↓↓ (Spacious home in Huron Village)
421 Huron Avenue, Cambridge MA
Listed and sold by True Home Partners & Liz Lyster of Compass
The average sale price of a single family in this period of time (1/1/19-3/31/20) was 103% of the list price. Given the limited inventory and high demand, it is no surprise that Cambridge single family homes sell for a premium and often for more than the list price.
CLICK HERE to see the single family homes now for sale in Cambridge, MA.
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