Condo Comparison – Dec 2016

Cambridge vs. Somerville

Happy New Year!

We’ve created this infographic that we will be using throughout the year to compare the condo market in Cambridge and Somerville. This will replace the condo trends we’ve sent out in the past.  Let us know what you think.

Thanks.

Cambridge vs Somerville Condos – Nov, 2016

Check out our new Neighborhood Condo Comparison infographic. We are ready for next year where we will be comparing the number of condos on the market year over year, looking at the year to date number of sales and more.

Below you will find neighborhood graphs showing: the number sales by month for the past three years, some interesting demographic tidbits and an area map.  You can also check out other neighborhoods using Clickable Maps on DestinyAgents.com or sign up for our Market Reports to receive information on properties similar to yours and in your neighborhood that are currently on the market and those that have recently been sold.  It’s a great way to get an idea of your homes appreciation.  If you want to dive deeper into the details just let us know. We can help.

Somerville Condo Market Report – 1st Quarter 2014

Somerville Condos March 2014

Somerville Summary: Somerville inventory is down 27%, nine properties from a year ago. On market listing value is down 28% or a bit over 4 million in value. Pending sales are up 16%.

Somerville Sales Chart April 2014

 

The year to date sales dollar volume is up by 28%, which equates to just under 7 million over the first quarter of 2013. The average days on market was 64. The average condo was 1,289 square feet, which is relatively unchanged with an average sale price of $663,656 was up by $165,586 . The aveage price per square foot – $412.

Somerville Condo Trends for January 2014

Somerville Condo Trends Jan14Somerville Summary: The inventory for all property types year over year dropped 26.7% for the start of 2014.  The median sales price rose 27.7% with the year over year overall closed sales for all properties ended the year up by 40%.

January condo inventory was down more than 28% compared to last year. ~ The median list price leaped up a wopping 69% with the active days on market shrinking by 10 days on average. ~ Condos going under agreement improved by nearly 32% compared to last January.

Somerville Condo Sale Chart

The number of condos sold went up by 5% for the month. ~ The median sales price rose slightly by 4%. ~ Days on market for condo sales shrunk to 48 days on average. The original price to sale price ratio was 99% of the original list price. ~ The average square foot priceincreased $390 per SF with an average living area just over 1,263 SF.

Cambridge Year End Condo Trends – December 2013

Cambridge Year End Condo Trends 2013

Cambridge Summary: Inventory remains at historic lows, down over 60% from the end of 2012. ~ The median list price continues to be bullish closing 30% higher. Days on market for listings was about the same, 14 weeks on average before going off market (Reflective of high list pricing). Properties going under agreement fell do to lack of inventory by over 70%.~

Cambridge Condo Sales Chart 2013

Cambridge condo sales, month to date are down 44% and overall the year to date (YTD) lost 2% over last year’s total sold. The median sale price ended the year up 17%. ~ Multiple offers and quick sales kept the original price to sale price higher than normal at 99%. ~ The average square foot price was $526 per SF with an average condo size of 1,304 SF.

Somerville End of Year Condo Trends – December 2013

Somerville Condo Trends for 2013

Somerville Summary: December condo inventory was down more than 20% compared to last year. ~ The median list price leaped up by 63% with the active days on market shrinking by 15% or 14 days on average. ~ Condos going under agreement declined by 25% compared to last December.

Somerville Condo Sales Chart  2013

 

 

 

 

 

 

 

The number of condos sold went up by 45% for the month which resulted in a gain of over 2% for the year. ~ The median sales price rose 33%. ~ Days on market for condo sales were just over a month on average. The original price to sale price ratio was 100% of the original list price. ~ The average square foot price jumped $106 to $441 per SF with an average living area just over 1,200 SF.

Somerville Condo Trends – October 2013

Somerville Condo Trends October 2013Somerville Summary: October condo inventory is about the same as last year. ~ The median list price rose significantly by 51% with the active days on market slightly higher at 62 days on average. ~ Condos going under agreement were up 15% compared to a year ago.

Somerville Condo Sales Chart 10-13

 

 

 

 

 

 

 

The number of condos sold in September was up 8% from a year ago resulting in a negligible loss of 0.3% in year to date sales. ~ The median sales price rose 15%. ~ Days on market were just two months on average. The original price to sale price ratio was 104% of the original list price. ~ The average square foot price was up nearly $50.00 at $399 with the living area 132 SF larger.

Somerville Condo Trends – September 2013

Somerville Condo Trends - 9-13Somerville Summary: September condo inventory remains lower than last year by 17%. ~ Listing market $ value went up 6% from $22 million in 2012 to $23 million. ~ The median list price rose significantly by 34% with the active days on market the same at 51 days on average. ~ Condos going under agreement were up 24% compared to a year ago.

Somerville Condo Sales Chart 9-13

The number of condos sold in September was up 17% from a year ago resulting in a 2% loss in year to date sales. ~ Somerville sold condo market $ value YTD was up 7% to $160 million from $149 million in 2012. ~ The median sales price rose 6%. ~ Days on market were just over a month on average. The original price to sale price ratio was closer to normal at 98% of original list price. ~ The average square foot price of $377 was down 4% per square foot with the living area about 170 SF larger.

 

Paul’s Somerville Condo Trends – August 2013

Somerville Condo TrendsSomerville Summary: August condo inventory remains low, down 17% from a year ago. ~ Listing market $ value was down 13% from $25 million in 2012 to $22 million. ~ The median list price rose 10% with the active days on market at 56 days on average. ~ Condos going under agreement were up 23% compared to a year ago.

Somerville Sales Chart 9/13

The number of condos sold in August were up 20% from a year ago resulting in a 5% loss in year to date sales. ~ Somerville sold condo market $ value YTD was up 4% to $140 million from $134 million in 2012. ~ The median sales price rose 11%. ~ Days on market remained less than a month on average. The original price to sale price ratio was 103% of original list price due to competitive bidding. ~ The average square foot price of $366 was down 2% per square foot with the living area about the same.

 

Paul’s Cambridge Condo Trends – July 2013

Cambridge July Condo Trends 2013

Cambridge Summary: Inventory continues to be a problem for buyers, down 57% from a year ago. ~Condo market inventory value was down 51% From 85 million in July 2012 to 41 million.~ The median list price was unchanged with days on market remaining below two months before going off market. Properties when U/A 37% faster than last year.~ Condos that went under agreement for the month were down 24%.

Cambridge Condo Sales Chart July 2013

Cambridge condo sales, month to date were d own 19% with the year to date up close to 10%. Sold market dollar volume YTD was up by 26% from 223 million to 281 million in sales. The median sale price rose15% compared to a year ago. ~ Multiple offers and quick sales kept the original price to sale price at 104%. ~ The average square foot price was $503.