If you weren’t buying or selling a home in the past few months, you may not be aware at how much Cambridge home prices rose this spring. This was largely a result of our ridiculously low inventory — as of today, there are only 90 properties (singles, multis and condos) on the market in all of Cambridge. That’s compared to 185 this time last year, when we already had an inventory shortage!
Here are some of the sale price changes for a sampling of property types — comparisons are based on YTD sales up to July 6 for the past three years.
Condo — 1BR/1ba, without parking
2011 YTD – 40 units sold – average price: $298,048
2012 YTD – 41 units sold – average price: $330,930
2013 YTD – 53 units sold – average price: $393,986
3-Year Change: Up 32%
Condo — 2BR/1ba, with 1 parking space
2011 YTD – 21 units sold – average price: $380,895 2012 YTD – 45 units sold – average price: $457,703 2013 YTD – 24 units sold – average price: $431,654 3-Year Change: Up 13%
Condo — 3BR/1.5+ba, with 1+ parking space(s)
2011 YTD – 36 units sold – average price: $796,653 2012 YTD – 31 units sold – average price: $791,745 2013 YTD – 45 units sold – average price: $953,364 3-Year Change: Up 20%
Single-family — up to 2000 square feet
2011 YTD – 23 units sold – average price: $591,728 2012 YTD – 25 units sold – average price: $604,779 2013 YTD – 33 units sold – average price: $676,761 3-Year Change: Up 14%
Single-family — larger than 2000 square feet
2011 YTD – 29 units sold – average price: $1,530,499 2012 YTD – 30 units sold – average price: $1,696,917 2013 YTD – 37 units sold – average price: $2,013,500 3-Year Change: Up 32%
2-family properties
2011 YTD – 12 units sold – average price: $766,500 2012 YTD – 26 units sold – average price: $790,294 2013 YTD – 12 units sold – average price: $960,375 3-Year Change: Up 25%
3-family properties
2011 YTD – 8 units sold – average price: $853,439 2012 YTD – 8 units sold – average price: $1,010,500 2013 YTD – 12 units sold – average price: $1,036,417 3-Year Change: Up 21%
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