$10,000 Closing Credit*
$2,149,000
2,779 SqFt
4 Beds
•3 Full Baths, 1 Partial
#73320750, Denman Drapkin Group, Listing Office: Compass
Is Cambridge, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Cambridge has remained a Seller's Market.
Key Takeaway
Cambridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cambridge, MA
How much do homes in Cambridge, MA cost?
Median Sold Price
$1,157,666
$910/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$96,666(+9.1%)
Key Takeaway
Homes in Cambridge have sold for 9.1% more than they did a year ago.
Summary: The median home sold price in Cambridge was $1,157,666 in November 2024, up 9.1% from last year, and the median price per square foot was $910.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $633.5K | $680K | +7.3% |
| 2 Bedrooms | $885K | $952.5K | +7.6% |
| 3 Bedrooms | $1.4M | $1.4M | -1.8% |
| 4 Bedrooms | $2.0M | $2.1M | +1.1% |
| 5+ Bedrooms | $2.1M | $2.1M | +4.2% |
Summary: Cambridge housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 4.2%.
Median Sold Price Compared To Nearby Cities
| Somerville | $970K | $1.1M | +14.7% |
| Cambridge | $1.0M | $1.1M | +9.1% |
| Belmont | $1.2M | $1.3M | +8.9% |
| Watertown Town | $835.3K | $842.5K | +0.9% |
| Watertown | $836.3K | $842.5K | +0.7% |
Housing Supply in Cambridge, MA
How many homes are available in Cambridge, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 227 | 191 | -15.9% |
Summary: The Cambridge real estate market had 191 homes for sale in November 2024, a 15.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 22 | -35.3% |
| 2 Bedrooms | 68 | 56 | -17.6% |
| 3 Bedrooms | 52 | 47 | -9.6% |
| 4 Bedrooms | 40 | 37 | -7.5% |
| 5+ Bedrooms | 33 | 29 | -12.1% |
Summary: The Cambridge housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 35.3%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 12.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 41 | -14.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cambridge, you may be able to get a good deal. 53.7% of homes here sold below asking price last month.
Summary: A total of 41 homes were sold or pending in Cambridge in November 2024, down by 14.6% month-over-month. Of the 41 sold homes, 54% were sold under asking, 12% were sold at asking, and 34% were sold over asking.
Days on Market for Cambridge, MA
How long does it take to sell a home in Cambridge, MA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 43 Days | 52 Days | +20.1% |
Summary: Homes in Cambridge had an average of 52 days on market in Nov 2024, up by 20.1% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cambridge are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 41 homes were sold in Cambridge; 59% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
