The Cambridge real estate market is hot. Below is a chart showing the median sales price for condos in Cambridge.
The orange line shows the level of inventory. Typically many sellers put their condos on the market in the spring because historically spring is the busiest time in the real estate market when the most number of buyers are looking to buy a home or condo. This year we are having a busy spring market and there are many buyers looking to purchase but inventory is low – not enough owners are choosing to sell. After seeing level prices for a while, we’re now seeing an increase in sales prices. Multiple offers are common in Cambridge once again. Has the real estate downturn ended or is this just a temporary spike? Stay tuned to see what happens!