The Cambridge, MA real estate market has been on a continual rise since the beginning of 2011, and August was no exception, as we saw some of the highest sales volume of the year.
The Cambridge, MA condominium market showed an upsurge in sales with 93 condo unit sales in August as compared to 86 in July. The average selling price for Cambridge, MA condominiums was $472,353, which is a slight decrease from July, and still well over 97% of the average listing price of $483,706. Heading into the month of September, there are 182 active units with an average listing price of $529,331. Using the sales statistics for the last 3 months, we currently only have 1.96 months’ worth of inventory signaling a very strong seller’s market. With an exhibited uptrend in home sales and a tighter inventory as opposed to the summer months, the fall season shows good signs for continually strong condo sales in Cambridge, MA.
Single Family Home sales in the Cambridge, MA real estate market remain at their highest level in 2011, with 16 home sales at an average sale price of $1,183,375. While sales volume remained the same from the previous month, we did see a 22% increase in average sales price from July’s average of $968,031. Heading into the fall sales season for single family homes in Cambridge, MA, we see a consistent amount of inventory, with 32 currently active listings at an average listing price of $1,150,084. Using the sales statistics for the last 3 months, this averages to 2.08 months of inventory. With 6 months of inventory considered a perfect equilibrium where neither buyers nor sellers have a pricing advantage, this indicates that Cambridge, MA single family homes are in a strong seller’s market.
If you are thinking about buying or selling a home in Cambridge, MA, then give Jeffrey Chubb a call at 617-480-2600, or visit him on the web at www.MoveWithChubb.com. He is ranked as the #1 Re/Max agent in Boston for the first half of 2011 and his experience helps sellers net more for their home in a shorter amount of time when compared to his competition. You deserve the best when buying a home too, so give Jeffrey a call as his services are free for buyers. Don’t forget that when you BUY or SELL a house with Jeff, you get to use his moving truck for FREE!