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Cambridge's Housing Market, Circa 2014, Explained in One Deal

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Unit 1 at 373 Western Avenue is enviable enough, especially in a Cambridge market notorious for its dearth of available condos. It's in a decent location, near the Charles River and a short walk from both Harvard and M.I.T. There's a wall A/C and a patio out back. But that's where the "enough" part of "enviable enough" ends. Otherwise, Unit 1 is not much to look at: 472 square feet of converted rental space with one bedroom and one bathroom. Yet, because of its mere existence in the Thunderdome that is the Cambridge housing market, it went for well over its $249,000 asking.

Unit 1 traded for $275,000—or $26K over asking—after barely two months officially on the market. And there you have it: The Cambridge housing market, circa 2014, in one deal.
· What's Happening in the Cambridge Housing Market Right Now [Curbed Boston]
· The Only Cambridge/Somerville Home Under $250K? Gone. [Curbed Boston]
· Our What Housing Crisis? archive [Curbed Boston]