Cambridge Condo Trends – October 2012

Cambridge Summary: Lack of inventory continues downby 26% compared to October of last year. ~ Condo listing $ volume is down by 15% from $82 million to the current $70 million in market value. ~ The median list price is up by 11  with days on market improving by 29 days before going off market. ~ Condos that went under agreement for the month improved by 31%.

Cambridge condo sales, month to date, are up 42% with year to date number of sold condos increasing to16%. Sold $ volume YTD increased by 16% from $298 million in 2011 to $348 million. The median sale price increased by 15% with the ratio of sale price to original price at 100% due to multiple offer bidding and reduced time on market. ~ The average square foot price for September was $496 per square foot with the average living area at 1,046 square feet.

Leave a Comment