Cambridge Condo Trends – September 2012

Cambridge Summary: Lack of inventory continues down 30% compared to September of last year. ~ Condo listing $ volume is down by 15% from 97 million to the current $82 million in market value. ~ The median list price is up by 19% with days on market improving by 14 days to 73 days before going off market. ~ Condos that went under agreement have improved by only 3%.

Cambridge condo sales, month to date, are up 25% with year to date number of sold condos increasing to14%. Sold $ volume YTD increased by 13% from $279 million in 2011 to $316 million this year. The median sale price decreased slightly with the ratio of sale price to original price remaining very high at 99% due to multiple offer bidding and reduced time on market. ~ The average square foot price for September was $488 per square foot with the average living area increasing to 1,135 square feet.

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