Cambridge Condo Trends – Year End 12/11

Cambridge Summary: Inventory for condos in December remained low, less 48% compared to the same period last year.Condo listing $ volume reflected this down 46% from 90 million to 48.5 million in value. ~ The median list price rose by $16,000 with properties selling at about the same rate, taking about close to 5 months to either go U/A or off market. ~ The number of condos going under agreement was the same at 46, however the $ volume was up 3.3% from December last.

Cambridge condo sales were up for the month 21% and YTD 7%. Sold $ volume for was up 7.8% for December from 24 to 30 million, YTD up 6.2% from 326 million to 354 over last year. ~ The median sale price dropped 4% with the ratio of sale price to original price tightening to the typical average of 95%. ~ The average square foot price for December was $451 per square foot with the average living area at 1,138 sf, 112.  little change from $450 per square foot with an average unit size of 1,150 square feet in 2010.

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