The Cambridge residential real estate market improved dramatically in the first half of 2013 relative to the first half of 2012. Although inventory was very tight, the dollar volume of residential real estate for the first half of 2013 in Cambridge increased 34.9% from the first half of 2012. The average sale price increased 15.8% and the median sale price increased by 13.5% compared to the ...
Exceptionally low inventory in Somerville contributed to a decrease in units and dollar volume in Somerville for the first half of 2013 compared to the first half of 2012. The dollar volume of residential real estate for the first half of 2013 in Somerville decreased 2.87% from the first half of 2012. However, average sale prices increased 12% and median sale prices increased 14.25% .
Our team specializes in helping our clients acquire, sell, and condo convert multi-family homes. The value of multi-family homes in Cambridge and Somerville has risen significantly in the first half of 2013. Higher rents, low inventory, and investor demand have all contributed to this rise.
Cambridge Mult-family Market, January 1 - June 29, 2013 (multi-family homes listed on MLSPIN)