Blog by Ed Abrams

Buying in Today's Seller's Market

April 30th, 2013
The Cambridge and Somerville spring real estate market has been great... if you are a seller. If you need to buy in this market it is very challenging. Homes in desirable locations have been attracting multiple offers (anywhere from 5 - 25 offers) with offers significantly over asking price.

Buyers want to buy now to take advantage of historically low interest rates. Buyers also sense that the ...

How is the early spring 2013 market in Cambridge & Somerville?

April 2nd, 2013
Sellers

The Cambridge and Somerville residential real estate market is currently a seller's market, based on the following data:

Cambridge
Months of Inventory: 1.7
Inventory: 157 units on the market vs. 188 in 2012 (down 16.5%)
Median Price (past 6 months of sales): $520,000 for 2013 vs. $463,300 for 2012 (up 12.2%)


Somerville*
Months of Inventory: 1.65
Inventory: 95 units on the market vs.157 in 201 ...
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