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 April 26, 2020, average sale price in Cambridge in 2020 is $1,463,508, while average sale price in Somerville is $1,018,064.
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As of April 26, 2020, 72 residential properties listed for sale in Cambridge, MA in MLS, including 51 condos.
72 properties for sale in Cambridge as of April 26, 2020. On April 26, 2019, there were 111 properties for sale in Cambridge.
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. Given Covid-19 in 2020, one would expect the "spring market" to come later in the year.
Average sale price of a condo in Cambridge in 2020 through April 26 is $1,007,945,844, up 7% from end of 2019.
Average sale price of a single family in Cambridge in 2020 through April 26, 2020 is $2,987,970. Sale price averaged 4% over the list price. Click here to see the 25 single family sales in 2020 through April 26.
Average sale price of a multi-family in Cambridge in 2020 through April 26 is $2,270,484, up 7% from end of 2019.
As of April 26, 2020, 68 residential properties listed for sale in Somerville, MA in MLS. Two-thirds of listings are condos.
As of April 26, 2020, there are 71 fewer properties for sale in Somerville than at this time last year. Overall, inventory is down 51%. This is obviously due to Covid-19.
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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. Given Covid-19 reality in 2020, the "spring market" peak will come later in the year.
Average sale price of a condo in Somerville as of April 26, 2020 is up 7% from end of 2019.
Average sale price of single families sold in Somerville in 2020 through April 26 is $1,009,650. Sale price averaged the list price. Seven single families for sale on April 26, 2020.
Average sale price of a multi-family in Somerville in 2020 through April 26 is $1,458,626, up 11% from end of 2019.
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