The condominium market in Cambridge and Somerville has seen remarkable changes in the past 5 years. Values have appreciated significantly, market times have declined and inventory is significantly lower.
In this issue we analyze the key market data to help developers, investors, sellers, and buyers to understand the condition of the condo market. The 5 market metrics that we examined are:<br> ...
The number of sales of residential properties (condominiums, single families, and multi-families) in Cambridge decreased by 8% in 2015 compared to 2014. There were 787 sales in 2015, compared to 856 sales in 2014.
Total market volume decreased by 1.64%. 2015 total volume was $698,882,881, compared to 2014 volume of $710,581,425.
The average sale price increased by 6.98%. The average sale price ...
Somerville values increased significantly. The average sale price increased by 16.9%, and the median sale price increased by 14.75% compared to 2014. In contrast to the Cambridge market, Somerville market volume increased by 6%.
The number of sales of residential properties (condominiums, single families, and multi-families) in Somerville decreased by 9.3% in 2015 compared to 2014. There were ...
