Cambridge Condo Trends – April 2013

Cambridge Condos April 2013Cambridge Summary: Inventory remains a huge challenge for buyers, demand remains high and inventory lower than last year by 38%. ~ Condo market inventory value was down 18% to $77 million vs. 94 million at the end of April last year. ~ The median list price rose 23% with the days on market dropping by 15 days before going off market. ~ Condos that went under agreement for the month are up 33%.~

Cambridge Condo Sales Chart April 2013Cambridge condo sales, month to date, are down 13 % with the year to date up by 14%. Sold market dollar volume YTD went up 25% from 83 million to 103 million in sales. The median sale price rose12%. ~ Multiple offers and quick sales put the original price to sale price over 100%. ~ The average square foot price of $550 per square foot went up 13%.

 

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