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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Cambridge is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Cambridge has remained a Seller's Market.

Key Takeaway

Cambridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Cambridge, NY

How much do homes in Cambridge, NY cost?

Median Sold Price

$237,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$61,000(+34.7%)

Key Takeaway

Homes in Cambridge have sold for 34.7% more than they did a year ago.

Summary: The median home sold price in Cambridge was $237,000 in September 2024, up 34.7% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $131.5K$167.5K
+27.4%
2 $185.3K$168.5K
-9.1%
3 $172K$217.5K
+26.5%
4 $252.9K$270K
+6.7%
5+ $150K$296K
+97.4%

Summary: Cambridge housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.4%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 26.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 97.4%.

Median Sold Price Compared To Nearby Cities

Cambridge
+34.7%
Jackson
+29.3%
White Creek
+22.2%

Housing Supply in Cambridge, NY

How many homes are available in Cambridge, NY?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2325+8.7%

Summary: The Cambridge real estate market had 25 homes for sale in September 2024, a 8.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 1111
0.0%
4 55
0.0%
5+ 56
+20.0%

Summary: The Cambridge housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
59+80.0%

Asking Price vs. Sold Price

7 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 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. 77.8% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Cambridge in September 2024, up by 80.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 0% were sold at asking, and 22% were sold over asking.

Days on Market for Cambridge, NY

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

Average Sale Time

Sep 2023Sep 2024CHANGE
89 Days16 Days-81.6%

Summary: Homes in Cambridge had an average of 16 days on market in Sep 2024, down by 81.6% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 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 September 2024, 9 homes were sold in Cambridge; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% 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 Sep 1, 2024

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