Homes in Cambridge and Somerville are very much in demand, and moving quickly. Case in point:
41 of the 187 condos listed since the beginning of the year (only six weeks ago) are already under agreement — 19 of these came off the market in ten days or less
7 of the 25 single-families listed so far in 2010 are under agreement — 3 in ten days or less
11 of the 43 multi-families listed this year are under agreement — 5 in ten days or less
Similar trends are being seen in Arlington:
7 of the 19 condos listed this year are either sold or under agreement — 3 in ten days or less
21 of the 37 single-families listed this year are sold or under agreement — 12 in ten days or less
3 of the 4 multi-families listed this year are under agreement — ALL THREE in ten days or less
What This Means for You
If you have a property to sell, now’s a great time to get it on the market — there is pent up demand, and a lot of buyers hoping to take advantage of the federal tax credit.
If you’re a buyer, make sure you’re in a position to act fast when you find a place you love — get pre-approved for a mortgage, line up your buyers’ agent, and get out there and look at homes so you’ll know the market and recognize a good value when you see it!
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