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.
It's not so much that single-family home prices were up annually in December in Cambridge (they were up just about everywhere in the Hub), it's that they were up by double-digit percentages—the median, for one, was up 11.6 percent to $865,000. And, at the same time, sales were up majorly as well (by more than 19 percent). Inventory—you guessed it—was way down.
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Cambridge's condo market appears robust, too, though not so much. Its prices were up but single-digits (the median 5.7 percent to $446,625). Though, like everywhere else in the Hub just about, inventory was way down annually in December (by nearly 40 percent) and the average time it takes to sell a Cambridge condo dropped by 27 days.
· A Boston Inventory Tale [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]