The Cambridge condo market continues to be hot. Well priced condos are selling quickly and it’s not uncommon to see multiple offers in the city.
The chart below shows the last 2 years of condo activity in Cambridge.
The black line shows the median sales price for condos in Cambridge while the orange line highlights the amount of inventory. The biggest thing that jumps out at me from the graph is the drastic change in the amount of condos for sale last summer versus today. . . a year ago there were 335 condos for sale in Cambridge while today we have less than half that number available. We’re seeing the typical inverse relationship between price and inventory. The current shortage of available condos is helping to drive up prices.
Stay tuned to see what will happen in the Cambridge condo market next!