Category Archive: The Market

It is indeed a seller’s market.  Competing multiple offers have become normal with cash buyers dominating Cambridge real estate sales.  I have never seen anything like it in my 24 years in the business.

Cambridge Summary: Inventory remains much lower than a year ago by -38%, a huge challenge for buyers where demand remains high and inventory low. ~ Condo inventory value is down 30% to $62 million vs. 88 million at the end of March last year. ~ The median list price rose 7% with the days on market dropping 18% or by 14 days before going off market. ~ Condos that went under agreement for the month are up 20%.

Cambridge condo sales, month to date, are up by 59% with the year to date up by 30%. Sold market volume is up 107% from 19 million to over 39 million in sales. The median sale price was up 19% to $509,900 ~ Multiple offers and quick sales keepthe original price to sale price close to 100%. ~ The average square foot price for March was $498 per square foot up 3.5% from last year.

Sold condos divided by condos for sale shows % of market sold for the month. Absorption rate = how long to sell the inventory based on the % sold for that month.

Cambridge Summary: Inventory remains lower than a year ago by 14%,a real challenge for buyers. Demand remains high and inventory low. ~ Condo for sale market value is flat, down 0.2% at $61.5  million in condo listing volume. ~ The median list price rose 6% with the  days on market dropping 32% or by 44 days before going off market. ~ Condos that went under agreement for the month are up 20%.

Cambridge condo sales, month to date, are down by 26% whereas the year to date is up by 5%. Sold market value is down 14% to $9,027 million in sales.  The average sale price was up 16% to $531,000 ~ Multiple offers and quick sales put the original price to sale price at 100%. ~ The average square foot price in February was $516 per square foot up 11%  from last year.