Cambridge Year End Condo Trends – December 2013

Cambridge Year End Condo Trends 2013

Cambridge Summary: Inventory remains at historic lows, down over 60% from the end of 2012. ~ The median list price continues to be bullish closing 30% higher. Days on market for listings was about the same, 14 weeks on average before going off market (Reflective of high list pricing). Properties going under agreement fell do to lack of inventory by over 70%.~

Cambridge Condo Sales Chart 2013

Cambridge condo sales, month to date are down 44% and overall the year to date (YTD) lost 2% over last year’s total sold. The median sale price ended the year up 17%. ~ Multiple offers and quick sales kept the original price to sale price higher than normal at 99%. ~ The average square foot price was $526 per SF with an average condo size of 1,304 SF.

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