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Cambridge 3-Year Home Price Comparison

For the past couple years, I’ve been doing a post-spring market analysis in July, looking at what it costs to purchase a home in Cambridge & Somerville. To put it in context, I’m also looking at how these numbers compare to previous years. Let’s start with Cambridge for this post…

The following data reflects 3-year price changes (2012 – 2014) for a sampling of property types — comparisons are based on YTD sales up to July 21 for the past three years. (If you look back at my previous posts, note that data is based on slightly different YTD dates, hence the slight differences in numbers used here.)

So here’s what it costs to buy a…

Condo — 1BR/1ba, without parking

2012 YTD – 46 units sold – average price: $326,992 2013 YTD – 41 units sold – average price: $350,956 2014 YTD – 26 units sold – average price: $413,425

Condo — 2BR/1ba, with 1 parking space

2012 YTD – 48 units sold – average price: $454,722 2013 YTD – 28 units sold – average price: $431,239 2014 YTD — 29 units sold — average price: $532,726

Condo — 3BR/1.5+ba, with 1+ parking space(s)

2012 YTD – 37 units sold – average price: $808,462 2013 YTD – 49 units sold – average price: $954,927 2014 YTD — 36 units sold — average price: $1,045,972

Single-family — up to 2000 square feet

2012 YTD – 29 units sold – average price: $635,237 2013 YTD – 36 units sold – average price: $668,600 2014 YTD — 31 units sold — average price: $825,763

Single-family — larger than 2000 square feet

2012 YTD – 37 units sold – average price: $1,668,541 2013 YTD – 43 units sold – average price: $1,949,895 2014 YTD – 37 units sold — average price: $2,027,646

2-family properties

2012 YTD – 29 units sold – average price: $807,179 2013 YTD – 13 units sold – average price: $965,731 2014 YTD — 14 units sold — average price: $1,069,357

3-family properties

2012 YTD – 9 units sold – average price: $999,333 2013 YTD – 15 units sold – average price: $1,139,800 2014 YTD — 12 units sold — average price: $1,229,167

And to summarize:


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