Cambridge Massachusetts Real Estate - 2009 Third Quarter Report

Cambridge is one of the communities in Massachusetts that has maintained relative value with very few foreclosures and bank owned property for sale. 

There are 29 homes currently for sale with an average list price of $1,527,403. The lowest price home is $319,000 and the highest is $4,250,000. Nine homes are under contract and there were 41 homes that closed (sold). The sales- price- to –list was 98%. The lowest sales price was $366,700 and the highest was $3,910,000.

 The average selling price in 2009 was $978,473 which was -7% lower than 2008 where the average was $1,054,275.  The days on market dropped from 79 to 66.  Three properties sold under 400k and in 2008 there were no sales in that price range.  12 homes sold over 1 million – 11 in 2008.  14 of the 41 properties sold between 500-700k with the lowest price $366,700 and the highest $3,910,000.