Cambridge condo inventory continues to frustrate buyers and their agents being down 37% from a year ago. The number of condominiums that went “under agreement” improved although remaining off by 6% from the end of June 2014. Condominiums sold in June were 2.5% off with year to date sales remaining down by 8%. The average sale price continued to rise in June to $743 from $701 in May. The average sold square foot price was $651 per square foot with an average unit size of 1,161 square feet.
Somerville inventory was down slightly by 6% or 2 units compared to June of last year. The number of condos going “under agreement” was down 15%, a considerable drop from the previous month. Condo sales month to date ran a negative 21% with sales year to date coming in at 27% below the same time last year. The average sales price declined from $656,000 in May to $604,000 in June. The average sold square foot price remained the same month over month at $483 per square foot. The average unit size was 1,302 square feet.