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Cambridge Shack Sells for Way Over Its Asking Price

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It's a sign of the Thunderdome of a Hub housing market out there that this 609-square-foot cottage at 194 Elm Street in the Mid-Cambridge-East Cambridge borderlands just traded for well over its asking price of $440,000—and took barely over a month to officially do so. Even its broker didn't think the 2-BR, 1-BA shack had much of a shot: The Coldwell Banker listing started with "Offers, if any, due Tuesday, December 16 at 2 p.m. ..." (emphasis ours). In the offers came, though, and up the price went. The house, which has a backyard and bones in the 1850s, sold for $530,000. That's $90K over its asking price and a pretty much pitch-perfect example of how frenetic Boston-area real estate can be.
· Hub's Most Popular Price-Per-Foot Range Will Surprise You [Curbed Boston]
· Extreme Over-Asks in the Hub: Where They Happen the Most [Curbed Boston]
· Our What Housing Crisis? archive [Curbed Boston]