Cambridge Summary: Inventory is at historic lows, down 50% from last November. ~ The median list price continues to be greater than 30% with days on market dropped 25 days to about 10 weeks on average before going off market. Properties going under agreement were down 12%.
Cambridge condo sales, month to date down 28% with the year to date about even being rounded up to 2% over last year’s number. The median sale price was about the same as the median list price up by 34%. ~ Multiple offers and quick sales kept the original price to sale price considerably higher than normal at 122%. ~ The average square foot price was $533 per SF with an average condo size of 1,262 SF.
Somerville Summary: November condo inventory is 42% less than last year. ~ The median list price is up by 46% with the active days on market about the same at 73 days on average. ~ Condos going under agreement were up 11% compared to a year ago.
The number of condos sold in November was down 36% from a year ago resulting in a loss of 2% in year to date sales. ~ The median sales price rose 18%. ~ Days on market dropped to less than a month on average. The original price to sale price ratio was 101% of the original list price. ~ The average square foot price was up nearly $58 at $395 per SF with a slightly smaller average living area.
I tripped across this piece about living in the moment while hanging with my soul mate Mr. Snipps and thought I would share it with you.
Living in the Moment: A Cat’s Tale
Is the housing market back on track? More deals closed this September than in any September since 2005, according to real estate tracking firm The Warren Group. Foreclosures are down all over, and prices are up almost everywhere, too. Eric Berman of the Massachusetts Association of Realtors ex- plains why: “Inventory is low, interest rates are low, and the economy’s better, so we have qualified buyers. We’re moving in the right direction.” Looking at the percent increase in median sale prices between the first nine months of 2012 and 2013, you can see which neighborhoods are really heating up.
We have been slowly moving to the dotloop.com platform for all of our transactions because it works. Take a look at this fun short video and you will understand all there is to know.
Cambridge Summary: Inventory has gone from little to less, down 62% from a year ago. ~ The median list price jumped 37 with days on market being just about two months before going off market. Properties going under agreement remains down by 26%.
Cambridge condo sales, month to date were down 20% with the year to date losing two points, up 4% over last year’s number. The median sale price was up almost 19%.. ~ Multiple offers and quick sales kept the original price to sale price higher than normal at 103%. ~ The average square foot price was $523 per SF with an average condo size of 1.158 SF.
Somerville Summary: October condo inventory is about the same as last year. ~ The median list price rose significantly by 51% with the active days on market slightly higher at 62 days on average. ~ Condos going under agreement were up 15% compared to a year ago.
The number of condos sold in September was up 8% from a year ago resulting in a negligible loss of 0.3% in year to date sales. ~ The median sales price rose 15%. ~ Days on market were just two months on average. The original price to sale price ratio was 104% of the original list price. ~ The average square foot price was up nearly $50.00 at $399 with the living area 132 SF larger.
The wind was a challenge and rides were in doubt when Chris Mooney, Balloon Pilot arrived on Cambridge Common. About an hour later he decided to give it a try and with some concern we launched the balloon. We had an hour before sunset and managed to raise over $300 for CHAF – Cambridge Housing Assistance Fund.