Cambridge Summary: Lack of inventory remains the top market challenge down 45% compared to August last year. ~ Condo listing $ volume reflects this difference down by 31% from 96 million to the current $66 million in market value. ~ The median list price is up by 15% = $69K with days on market improving to 88 days before going off market. ~ Condos that went under agreement have improved by 26% keeping the same pace as July. Cambridge condo sales, month to date, are up 19% with year to date number of sold condos up by 12%.
Sold $ volume YTD increased by 10% from $249 million in 2011 to $275 million this year. The median sale price improved by $32,500 with the ratio of sale price to original price remaining at 98% due to multiple offer bidding and reduced time on market. ~ The average square foot price for July was $478 per square foot with the average living area at 993 square feet.