Is Cambridge, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cambridge is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Cambridge was a Seller's Market.

Key Takeaway

Cambridge is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Cambridge, MA

How much do homes in Cambridge, MA cost?

Median Sold Price

$1,071,500

$867/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$53,500(-4.8%)

Key Takeaway

Homes in Cambridge have sold for 4.8% less than they did a year ago.

Summary: The median home sold price in Cambridge was $1,071,500 in February 2024, down 4.8% from last year, and the median price per square foot was $867.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $610K$651K
+6.7%
2 $896.5K$900K
0.4%
3 $1.4M$1.5M
+6.0%
4 $1.9M$2.0M
+5.0%
5+ $2.3M$2.2M
-2.2%

Summary: Cambridge housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 2.2%.

Median Sold Price Compared To Nearby Cities

Somerville
+5.4%
Belmont
+2.3%
Watertown
+1.7%
Watertown Town
+1.6%
Cambridge
-4.8%

Housing Supply in Cambridge, MA

How many homes are available in Cambridge, MA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
153183+19.6%

Summary: The Cambridge real estate market had 183 homes for sale in February 2024, a 19.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 1219
+58.3%
2 4758
+23.4%
3 4746
-2.1%
4 1624
+50.0%
5+ 3136
+16.1%

Summary: The Cambridge housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 58.3%, 2 bedroom homes increased by 23.4%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 16.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2722-18.5%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Cambridge, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in Cambridge in February 2024, down by 18.5% month-over-month. Of the 22 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.

Days on Market for Cambridge, MA

How long does it take to sell a home in Cambridge, MA?

Average Sale Time

Feb 2023Feb 2024CHANGE
62 Days39 Days-37.1%

Summary: Homes in Cambridge had an average of 39 days on market in Feb 2024, down by 37.1% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Cambridge are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 22 homes were sold in Cambridge; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Cambridge, MA

Nearby Markets to Cambridge, MA

What housing markets are near Cambridge, MA?