Cambridge Summary: Year over year for all property types the inventory dropped to record lows for the start of 2014 down 71.6%. The median sales price rose 20.5% with the year over year closed sales for all properties down -38.8%.
Needles to say condo Inventory remains at historic lows, down 53%% from January 2013. ~ The median list price continues to be bullish closing over 21% higher. Days on market for listings dropped by nearly a month to less than 60 days before going off market. Properties going under agreement fell sharply do to lack of inventory by over 61%.
Cambridge condo sales, month to date are down 33% to start off the year. The median sale price ended was over 19%. ~ Multiple offers and quick sales kept the original price to sale price higher than normal at 100%. ~ The average square foot price was $541 per SF, up nearly $50.00 with an average condo size of 1,248 SF.