Cambridge Condo Trends for November

Cambridge Summary: Lack of inventory remains low down 28% compared to November last year. ~ Condo listing $ volume remained down by 15% from $71 million to 60 million in market value. ~ The median list price is up by 21% with days on market improving 4 to 3 months before going off market. ~ Condos that went under agreement for the month slipped by 6%.

Cambridge condo sales, month to date, are up 20% with year to date number of sold condos increasing by 17%. Sold $ volume YTD increased by 19% from $324 million in 2011 to $386 million in 2012. The median sale price increased by 16% 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 November rose to $503 per square foot with the average living area at 1,093 square feet.

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