On a regular basis, I am creating market snapshots about the Cambridge and Somerville real estate markets. I hope that you find these valuable. There is, of course, always more to the story. Reach out at any time for more information. We're here to help you.
Average sale price in both Cambridge and Somerville, Massachusetts has been steadily rising over the last five years. As of March 6, 2019, average sale price in Cambridge in 2019 is $1,500,543, while average sale price in Somerville is $908,027.
As of March 6, 2019, only 71 residential properties listed for sale in Cambridge, MA in MLS. Two-thirds of the listings are condos.
71 properties for sale in Cambridge as of March 6, 2019 . That is not a lot, but it is more than were for sale on the same date in 2018 (47).
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The trend each year is for the number of Cambridge residential sales (condos and singles and multis) to rise in the spring market, and then rise again in the fall. In the last several years, the total number of transactions each year has been decreasing. It will be interesting to see if that trend changes in 2019.
Average sale price of a condo in Cambridge in 2019 is up 8 year to date, as of March 6, 2019..
Average sale price of a single family in Cambridge in 2018 was $1,935,212. Sale price averaged 5% over the list price. Very few single families now for sale in Cambridge.
As of March 6, 2019, 92 residential properties listed for sale in Somerville, MA in MLS. Over two-thirds of the listings are condos.
As of March 6, 2019, there is more for sale in Somerville than at this time last year. Overall, inventory is up 49%. Mainly it is more condos - 66 for sale as of March 6, 2019 compared to 22 on March 6, 2018.
The trend each year is for the number of Somerville residential sales (condos and singles and multis) to rise in the spring market, and then rise again in the fall.
Average sale price of a condo in Somerville in 2019 is down 1% year-to-date, as of March 6, 2019.
Average sale price of a single family in Somerville in 2018 was $923,762. Sale price averaged 2% over the list price. Very few single families now for sale in Somerville.
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