Cambridge Summary: It might seem odd, however inventory has improved to -14% compared to December of last year. ~ Condo listing $ volume exceeded last year by 2% from $ 49 million to 50 million in total condo market value. ~ The median list price is up by 23% with days on market improving by 35 days to around 3 months before going off market. ~ Condos that went under agreement for the month rose by 28%.
Cambridge condo sales, month to date, are up 5% with year to date number of sold condos increasing by 17%. Sold $ volume ended strong up 20% from $355 million in 2011 to $427 million in 2012. The median sale price increased by a modest 2% with the ratio of sale price to original price up 99% due to multiple offer bidding and reduced time on market. ~ The average square foot price for December rose to $508 per square foot compared to $451 last year with the average living area at 1,160 square feet.