Paul Turcotte

Cambridge Condo Trends – June 2012

Cambridge Condo Trends June 2012

Cambridge Summary: Lack of inventory continues to tighten the market down 38% compared to June last year. ~ Condo listing $ volume remains down by comparison by 28% from 141 million to 101 million in market value. ~ The median list price is up by 8% or $39K with days on market dropping to an average of less than 2 months before going off market. ~ Condos that went under agreement went up by 12.5%.

Cambridge Condo Sales Chart June 2012

Cambridge condo sales, month to date, are up 4% with year to date number of sold condos up by 5%. Sold $ volume YTD increased by 2% from $161 million in 2011 to $164 million this year. The median sale price improved by $5,000 with the ratio of sale price to original price at 99% due to multiple offer bidding and reduced time on market. ~ The average square foot price for April was $469 per square foot with the average living area at 1,088 square feet.

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Somerville Condo Trends – June 2012

Somerville Condo Trends June 2012

Somerville Summary: June condo inventory reached a new low down 42%. ~ Listing $ volume was down 38% from $66 million to $40 million. ~ The median list price went up a little over $10K with the active days on market loosing 8 more days. ~ Condos going under agreement increased by 8%.

Condo Sales Chart June 2012

Condos sold for the month exceeded last June by 17% with the year to date sales up 27%. ~ Somerville condo sold $ volume YTD is up 28.7% from the end of June last year. ~ Sold average days on market dropped by over 2 weeks to 48 days. The original price to sale price ratio increased to 99% of the original list price due to competitive bidding. ~ The average square foot price increased by $37 to $357 per square foot with the average condo living area at 1,294 square feet.

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Cambridge Condo Trends – May 2012

 

Cambridge Summary: Inventory continues to remains below last May by 42%. ~ Condo listing $ volume is down by 34.5% from 152 million to 100 million in total market value. ~The median list price is up $14,900 or 3% with days on market dropping from 3 months to 2 months on average before going off market. ~ Condos that went under agreement were up  by 13 units or 11%. Cambridge condo sales month to date are up by 18% with year to date number sold condos up by 5%.

Sold $ volume YTD improved 03.7% from $106 million in 2011 to $111 million this year. The median sale price improved by 7% with the ratio of sale price to original price increased to 98% due to multiple bidding and reduced time on market. ~ The average square foot price for April was $467 per square foot with the average living areaof 1,011 square feet.

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Somerville Condo Trends – May 2012

Somerville Summary: May condo inventory remains quite low down by -40%. ~ Listing $ volume was down 27 million from $68.5 million to $40.7million. ~ The median list price went up $10,000 with the active days on market shortening by 11 days to 2 months. ~ Condos going under agreement increased by 39%. Condos sold for May soared by 53%% with year to date sales up 30%.

Somerville condo sold $ volume YTD is up $19 million  or 32%.~ Sold average days on market increased a modest 8 days. The original price to sale price ratio increased to 98% of the original list price. ~ The average square foot price decreased modestly by $4 to $340 per square foot with the average condo size at 1,221 square feet.

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MayFest 2012

We had so much fun at MayFest this year! We started out the afternoon at the booth, handing out balloons to the children. It was so much fun to see the turn out and talk to all the wonderful people. We even had great weather, so we were able to get the RE/MAX hot air balloon up this year. We had so much fun working as a team manning the balloon. Our agents got their hands dirty and helped out so much. The office raised $600 in rides, for a great charity (Our Place Homeless Children Center & Cambridge Housing Assistance Fund). We look forward to doing it again in October!

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Cambridge Condo Trends – April 2012

Cambridge Summary: Inventory continues to remain quite low, up  from – 46% from last month to -42% compared to April last year. ~ Condo listing $ volume remains low by 39% from 161 million to 97 million in market value. ~ The median list price is up by 2.4% or 11K with days on market dropping from 3 monyhs to 2 months on average before going off market. ~ Condos that went under agreement were pretty much the same.

Cambridge condo sales month to date are up by 26% with year to date number sold condos up by 15%. Sold $ volume YTD improved 14% from 70 million in 2011 to 82 million this year. The median sale price improved by 3.6% with the ratio of sale price to original price above at 100% due to multiple bidding and reduced time on market. ~ The average square foot price for April was $484 per square foot with the average living areaof 1,185 square feet.

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Somerville Condo Trends – April 2012

Somerville Summary: April condo inventory remained down by -24%. ~ Listing $ volume was down 15 million from $54.6 million to $69.7million. ~ The median list price went up 7.5% with the active days on market sliding below 2 months. ~ Condos going under agreement increased by 36%. Condos sold for the month exceeded last April by 10% with the year to date sales up 16%. ~

Somerville condo sold $ volume YTD is up 21.9% from the end of April last year. ~ Sold average days on market dropped by over 3 weeks to 85 days. The original price to sale price ratio increased to 96% of the original list price. ~ The average square foot price increased by $37 to $357 per square foot with the average condo size at 1,294 square feet.

 

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Cambridge Condo Trends – March 2012

Inventory remains quite low, less 46% compared to March last year,. ~ Condo listing $ volume is down over 39% from 149 million to 90 million in value. ~ The median list price is up by 14% or 69K with days on market dropping by 14% to less than 90 days on average before going off market. ~ Condos that went under agreement are up by 7%.

Cambridge condo sales month to date are up but only by one sale with year to date number sold up by a modest .05%. Sold $ volume YTD improved but remains down 8% from 49 million in 2011 to 45 million this year. The median sale price dropped by 8% with the ratio of sale price to original price above average at 98%. ~ The average square foot price for March was up $28 per square foot to $475 with the average living area loosing 146 sf from 1,118 to 9728 square feet.

 

 

 

 

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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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