Cambridge Massachusetts Real Estate Market Report 2010

The Cambridge, MA real estate market report indicates that there were 127 homes sold in 2010 as compared to 110 in 2009. This represents a 15% increase in the number of homes sold. The average sales price changed from $1079621 in 2009 to $1158321 in 2010, a 7% increase in value. The days on market changed -16 % from 86 to 72.

In the five year trend analysis for homes sold and average selling prices, the data points to the bottom of the market occurring in 2009. Both average selling prices and units sold increased in 2010 with units sold increasing the past two years. In 2010, the average selling price was the highest of the last four years.

The average days on market, which reflects the absorption of inventory in the market, has dropped to levels indicative of a Seller's market instead of a buyer's market.

The Cambridge, MA condominium market data indicates that there were 660 condos sold in 2010 as compared to 667 in 2009. This represents a 1% decrease in the number of condos sold. The average sales price changed from $459938 in 2009 to $494283 in 2010, a 7% increase in value. The days on market changed 5 % from 78 to 82.

The five year trend for condominium sales indicates that 2007 was the peak of the market with 2009 reporting the bottom. Prices have stabilized and increased from the low point in 2009. Contributing factors are the low interest rates, condo availability, affordability and the improvement in the local economy.

Cambridge Massachusetts real estate market is strengthened by it's diverse economy. Internationally recognized universities, hospitals, research and hi-tech companies seek to locate in this desirable city across the bay from Boston.

Information for this report was compiled by Virtual Homes Real Estate from data obtained through the MLSPin system and is not guaranteed to be accurate.