$10,000 Closing Credit*
$935,000
1,141 SqFt
2 Beds
•2 Full Baths
#73312856, The Petrowsky Jones 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 October 2023
At the same time last year, Cambridge was a Seller's Market.
Key Takeaway
Cambridge is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cambridge, MA
How much do homes in Cambridge, MA cost?
Median Sold Price
$1,139,275
$909/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$70,108(+6.6%)
Key Takeaway
Homes in Cambridge have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Cambridge was $1,139,275 in October 2024, up 6.6% from last year, and the median price per square foot was $909.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $628.5K | $680K | +8.2% |
| 2 Bedrooms | $885K | $950K | +7.3% |
| 3 Bedrooms | $1.4M | $1.4M | -2.8% |
| 4 Bedrooms | $2.1M | $2.1M | -2.3% |
| 5+ Bedrooms | $2.1M | $2.1M | +3.6% |
Summary: Cambridge housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.2%, 2 bedroom homes increased by 7.3%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes decreased by 2.3%, and 5+ bedroom homes increased by 3.6%.
Median Sold Price Compared To Nearby Cities
| Somerville | $955.8K | $1.0M | +14.9% |
| Belmont | $1.2M | $1.3M | +10.9% |
| Cambridge | $1.0M | $1.1M | +6.6% |
| Watertown Town | $829.5K | $842K | +1.5% |
| Watertown | $832K | $842K | +1.2% |
Housing Supply in Cambridge, MA
How many homes are available in Cambridge, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 241 | 253 | +5.0% |
Summary: The Cambridge real estate market had 253 homes for sale in October 2024, a 5.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 39 | 37 | -5.1% |
| 2 Bedrooms | 79 | 77 | -2.5% |
| 3 Bedrooms | 48 | 56 | +16.7% |
| 4 Bedrooms | 36 | 42 | +16.7% |
| 5+ Bedrooms | 39 | 41 | +5.1% |
Summary: The Cambridge housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 5.1%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 5.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 42 | -19.2% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cambridge, you may be able to get a good deal. 47.6% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Cambridge in October 2024, down by 19.2% month-over-month. Of the 42 sold homes, 48% were sold under asking, 12% were sold at asking, and 40% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 34 Days | +40.0% |
Summary: Homes in Cambridge had an average of 34 days on market in Oct 2024, up by 40% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
4 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 October 2024, 42 homes were sold in Cambridge; 69% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
