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Cambridge Condos, Houses Selling Super-Fast

This is Neighborhood Watch, a monthly breakdown from Curbed Boston about what's going on market-wise in key neighborhoods 'round the region (and, for our purposes here, towns and cities are neighborhoods, too—because they almost were, after all). All stats courtesy of William Raveis Real Estate. Next up, Cambridge.

The number of single-family home sales in Cambridge was virtually unchanged year-over-year in November, though those that traded did so much faster: the average time a home spent on the market dropped 30.7 percent to 52 days. At the same time, every pricing measure was up significantly, including the median by 9.3 percent to $865,000, and inventory was way, way down.

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The number of condo sales, on the other hand, was way, way up: 19.1 percent over November 2011. Prices, too, rose, with the median up 5.2 percent to $446,250. Not surprisingly, given the sales jump (and given the state of Hub housing in general), the inventory of unsold condos in Cambridge was down sharply as was the average time it takes to sell them.
· Boston's Real Estate Cliff [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]