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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