Coldwell Banker Ranks #1 in Cambridge MA
When people ask me why they should use Coldwell Banker Residential Brokerage the answer is simple. It all boils down to one simple fact in Cambridge. Coldwell Banker is the largest and most successful real estate brokerage in Cambridge. Curently Coldwell Banker Cambridge has over 50% of the market share in housing units which is more than double the #2 brokerage in town.
In spite of the doom and gloom predictions swirling around the Real Estate Market, we are lucky to be experiencing an extremely stable market in Cambridge – both in terms of pricing and sales volume. With interest rates remaining historically low and our experiencing somewhat of an inventory shortage, we expect high buyer activity this Fall. Sellers who have held back putting their properties on the market may well want to consider taking advantage of this confluence.
Year to date 85 single family homes have sold in Cambridge at an average price of $1,091,466. While the number of units sold has remained stable over the same time last year, the average sale price appears to have declined by 8.4%. However, a closer look shows a shift in the price range of properties sold. As of early Sept., 2010 20 properties had sold in the $1M-1.5M range with the balance scattered among all other price ranges. To date in 2011, 15 single family properties sold in that range with roughly an equal number (14) selling in the $500K to $600K range – this shift in mix is significant in terms of the average sale price calculation. We are also seeing a 21% drop in Single Family inventory over this time last year.
Condominium Sales in Cambridge have remained stable both in terms of price and unit sales. By this time last year 509 properties had closed with 506 to date in 2011, the 22011 average sale price of $497,980 changed only $806 year over year which is statistically insignificant. However, we do have an inventory shortage with available units down 30%.
If you would like a copy of the current real estate report or a customized marketing report on your home please contact John Dean at 617-844-2764. John is an experienced Realtor working for Coldwell Banker in Cambridge on Huron Ave.