Condo Trends

Cambridge Condo Trends – October 2011

Cambridge Summary: Inventory for October continued to decline, dropping 45% compared to the same period last year. ~ Condo listing $ volume is considerably lower by 48% from 165 million to 85 million. ~ The median list price increased slightly by $9,000 with properties selling an average of 5 days faster. ~ Condos that went under agreement for the month increased by 29%.

Condo sales for the month were flat in comparison down .02%. ~ Year to date sales were up almost 4% or 22 more condos than in October last year. Cambridge condo sold $ volume for the month was flat loosing only -.02% a difference of $471,800. YTD sold $ volume is up 4.73% over last year. ~ The median sale price improved by 9% with the ratio of sale price to original price the same at 95%. ~ The average square foot price for October was $459 per square foot with the average living area at 1,044 sf, 111 fewer square feet than in 2010.

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Somerville Condo Trends For October 2011

Somerville Summary: Condo inventory in Somerville remains about the same as last October up only1.5%. ~ The median list price shows a modest increase of $8,876  with the active days on market showing more demand by improving to 87 days from 102 in 2010 ~ Condo listing volume or market value at the end of October barley  increased by only $390,486. ~ Condos going under agreement did increased by 23%. ~ Condos sold for the month went up 28% with the YTD number of condos sold falling behind by 8%. ~

Somerville condo sold $ volume went up by 34% from 6+ million in 2010 to over 9 million this past October.

YTD sold $ volume remains behind by nearly 4% compared to last year at the same time. ~ Sold average days on market remained the same at 72 days. The original price to sale price ratio tightened a point to 96%. ~ The average square foot price rose to $386 per square foot for October with the average condo size also increasing 86 square feet to of 1,174 square feet.

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Cambridge Condo Trends – September 2011

Cambridge Summary: Inventory for September dropped 38% compared to the same period last year. ~ Condo listing $ volume  is down considerably by over 41% from 166 million to 97 million. ~ The median list price fell slightly by $3,550  with properties selling faster at 87 days on average. ~ Condos going under agreement for the month increased by 27%. ~ Sales for the month increased more than 23%. ~ Year to date by +4% or 21 more condos than in September last year.

Cambridge condo sold $ volume was up over 35% almost 10 million from 18 million in 2010 to 28 million this past September.  YTD sold $ volume is up 4.73% over last year. ~ The median sale price improved by 9% with the ratio of sale price to original price the same at 95%. ~ The average square foot price for September was $512 per square foot with the average living area of 1,166 sf.

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Somerville Condo Trends – September 2011

 

Somerville Summary: Condo inventory in Somerville is about the same as last September but down 3%. ~ The median list price shows the same with a slight increase of $1,100 with the active days on market showing more demand by improving to 74 days from 93 in 2010 ~ Condo listing volume or market value at the end of September decreased by nearly 2% from 58 million in 2010 to 57 million for September 2011.

Condos going under agreement decreased by  7, or 29%. ~ Condos sold for the month was down 7% with the YTD number sold falling behind by 35%. ~ Somerville condo sold $ volume was down by 36% from 12 million in 2010 to almost 8 million this past September.  YTD sold $ volume is down 7% over last year at the same time. ~ Sold average days on market decreased 18 days to 87 days. The original price to sale price ratio increased a point to 95%. ~ The average square foot price was $352 per square foot for September with the average condo size of 1,110 square feet.

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