Condo Trends

Somerville Condo Trends – March, 2011

March condo inventory was down 11%. ~ Listing $ volume is basically even – down only 57K from $50,593 million to $50,535 million. ~ The median list price went up 6% with the active days on market dropping through demand to just over 2 months. ~ Condos going under agreement increased by 23%.

Condos sold for the month exceeded last March by one sale with the year to date sales up 18%. ~ Somerville condo sold $ volume YTD is up 20% from the end of March last year. ~ Sold average days on market shrunk by 50% on average to less than 2 months. The original price to sale price ratio increased by 3% to 96% of the original list price. ~ The average square foot price was increased by $46 to $358 per square foot with the average condo size remaining about the same at 1,086 square feet.

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Cambridge Condo Trends – January 2012

Cambridge Summary: We are off to a rough start with Inventory for January remain quite low, less 48% compared to the same period last year. ~ Condo listing $ volume is down 42% from 84 million to 48.5 million in value. Very little improvement from December. ~ The median list price rose by 9%with properties selling at about the same rate, taking an average of 4.5 months to either go U/A or off market. ~ The number of condos that went under agreement was down by 15. Cambridge condo sales dropped 13%.

 

 

Sold $ volume was down 32% from 17 to 12 million. ~ The median sale price dropped 8% with the ratio of sale price to original price reflecting the limited inventory at 97%. ~ The average square foot price for January was $433 per square foot with the average living area at 1,045 sf compared to $501 per square foot with an average unit size of 1,088 square feet in 2011.

 

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Somerville Condo Trends

Somerville Summary: Condo inventory was down by 14% for January. ~ Listing $ volume was down 1.4% from 34 million to 33 in. ~ The median list price was flat increasing by 1.4% with the active days on market showing more demand dropping from over 4 months to three. ~ Condos going under agreement increased by 48%.~ Condos sold for the month were up 7%. ~

 

 

 

Somerville condo sold $ volume for the month was flat up only $1,300 from January last. ~ Sold average days on market did not change at 3.7 months on average. The original price to sale price ratio dropped by 2% to 91% of the original list price. ~ The average square foot price dropped to $303 per square foot from $325 with the average condo size of 1,298 square feet compared to 1,243 square feet.

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Cambridge Condo Trends – Year End 12/11

Cambridge Summary: Inventory for condos in December remained low, less 48% compared to the same period last year.Condo listing $ volume reflected this down 46% from 90 million to 48.5 million in value. ~ The median list price rose by $16,000 with properties selling at about the same rate, taking about close to 5 months to either go U/A or off market. ~ The number of condos going under agreement was the same at 46, however the $ volume was up 3.3% from December last.

Cambridge condo sales were up for the month 21% and YTD 7%. Sold $ volume for was up 7.8% for December from 24 to 30 million, YTD up 6.2% from 326 million to 354 over last year. ~ The median sale price dropped 4% with the ratio of sale price to original price tightening to the typical average of 95%. ~ The average square foot price for December was $451 per square foot with the average living area at 1,138 sf, 112.  little change from $450 per square foot with an average unit size of 1,150 square feet in 2010.

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Somerville Condo Trends Year End 12/11

Somerville Summary: Condo inventory was down by 3% over last December. ~ Listing $ volume, however was up by 5.8% from 34 million to 36 in 2011. ~ The median list price shows an increase of 7.6% with the active days on market showing more demand by improving to 96 days from 122 days in 2010 ~ Condos going under agreement increased by 12% and the $ volume is up a modest 1.3%. ~ Condos sold for the month dropped 27% with YTD showing a loss of 7% compared to 2010. ~

Somerville condo sold $ volume for the month decreased sharply by 40%, YTD dropped 3.7% from 141 million in 2010 to 136 million for 2011. ~ Sold average days on market increased improved by 23 days. The original price to sale price ratio dropped by 2% to 90% of the original list price. ~ The average square foot price dropped to $296 per square foot from $320 with the average condo size of 1,270 square feet shrinking to 1,105 square feet.

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Cambridge Condo Trends – November 2011

Cambridge Summary: Inventory for November remained down by 39% compared to the same period last year. ~ Condo listing $ volume is considerably down by 41.5% from 123 million to 73 million. ~ The median list price was the same with properties selling

Sold $ volume for the month was up 15.5%, YTD sold $ volume up 6.2% over last year. ~ The median sale price improved by only 1% with the ratio of sale price to original price up by 2% in comparison. ~ The average square foot price for Novemebr was up by $89 to $529 per square foot with the average living area at 1,137 sf, 112 less square feet than  in 2010.

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Somerville Condo Trends – November 2011

Somerville Summary: Condo inventory edged up by 3% over last Novemeber. ~ Listing $ volume is up by 2.3% from 46 million to 47 million. ~ The median list price shows an increase of 7% with the active days on market showing more demand by improving to 85 days from 113 in 2010 ~ Condos going under agreement increased by 22% and the $ volume is up 11.8%. ~ Condos sold for the month were up 21% with YTD moving up by 5%.

 Somerville condo sold $ volume for the month increased by 27%,  whereas YTD dropped 1.2% from 132 million in 2010 to 131 million this past November. ~ Sold average days on market increased by 8% . The original price to sale price ratio tightened a point to 95%. ~ The average square foot price rose to $431 per square foot for November with the average condo size also increasing 38 square feet to of 1,304 square feet.

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