cambridge market report 2014 year-end sales...

CAMBRIDGE MARKET REPORT

2014 YEAR-END SALES REPORT

$1M -$1.9M

$2M -$2.9M

$3M -$3.9M

$4M -$4.9M

$5M +

GRAND TOTALS

23

9

3

2

0

129

39

13

5

1

0

114

26

8

6

0

0

133

37

17

6

0

0

145

3

1

0

1

0

11

2

0

0

0

0

7

PRICE BANDS2010YTD

2011YTD

2012YTD

2013YTD

2014YTD

AS OF12/31/2014

CURRENTINVENTORY

AS OF 12/31/2014

23

$750K -$999K 18 18 19 24 1 5 31

$500K -$749K 29

110

HIGHEST SALE YTD $4.25M $3.87M $3.74M $5.58M $6.50M$4.85M

2009YTD

21

7

7

2

0

20

31

109

$4.92M

MEDIAN PRICE $859,000 $782,000 $885,000 $903,000 $1,250,259$761,250$755,000

2008YTD

27 38 33

42

14

7

0

2

119

31

39

48

20

3

1

1

22

22 1 0 44

$50K -$499K 2621 26 17 16 10 2 4 0 21

24

102

71

166

AVG 32

AVERAGE DAYSON MARKET 2014

HOMES SOLDHOMESUNDER

AGREEMENTHOMESLISTED

Robert Paul Properties Market Report2014 Mid Year Market Report For Cambridge Single Family Residences

2M+ 0 2 2 4 0 0

PRICE BANDS2010YTD

2011YTD

2012YTD

2013YTD

2014YTD

AS OF12/31/2014

CURRENTINVENTORY

AS OF 12/31/2014

61

$1M - 1.9M 8 7 17 29 5 2 35

$500K - $999K 40

2009YTD

0

6

37

2008YTD

46 34 58

4

32

36

7

43

26 4 4 38

$50K - $499K 77 9 7 5 1 0 0 0 0




GRAND TOTALS 64 60 96 73 9 655

HIGHEST SALE YTD $6.7M $2.3M $31.7M $8.4M $8.0M$1.1M

50

$1.5M

MEDIAN PRICE $717,478 $775,000 $900,000 $995,000 $1,215,000$695,000$751,000

76 AVG 38

Cambridge Single Family Residences

Cambridge Multi-Family Residences

The Robert Paul Market Report2014 Year End Residential Properties Report

Source: MLSPin 2014 Residential Sales


$300M

$200M

$100M

$400M

$500M

200

100

300

400

500

600

Median Price

Homes Sold

Sales Volume (in Millions)

2008 2009 2010 2011 2012

$414,000 $415,000 $425,000 $422,500 $446,250 $514,750

xxx xxx xxx xxx xxx xxx

$489M

2013 2014

$580,000

xxx

$435M$355M $307M $327M $356M $428M

Sal

es V

olu

me

Pro

per

ties

So

ld

Sales Volume in DollarsHomes SoldMedian Price

$750M -$999M

$1M -$1.9M

$2M -$2.9M

$5M +

GRAND TOTALS

19

21

0

0

662

46

21

4

1

715

49

23

1

3

841

61

26

4

2

826

2

8

0

0

42

8

0

3

0

32

PRICE BANDS2010YTD

2011YTD

2012YTD

2013YTD

2014YTD

AS OF12/31/2014

CURRENTINVENTORY

AS OF 12/31/2014

37

$500K -$749K 140 143 154 210 18 12 32

$250K -$499K 456

668

MEDIAN PRICE $425,000 $422,500 $446,250 $514,750 $580,000$415,000

2009YTD

33

18

5

0

172

478

748

$414,000

HIGHEST SALE YTD $4.25M $3.45M $3.35M $3.97M $3.00M$1.99M$2.80M

2008YTD

417 447 500

96

40

6

3

661

310

356

97

55

6

0

293

210 14 9 32

$50K -$249K 3242 30 38 38 15 0 0 0 0

56

122

0

AVG 36




Cambridge Condos High End $250k + Sales Graph

Robert Paul Properties Market Report2014 Mid Year Market Report For Cambridge CondosCambridge Condominiums

The Robert Paul Market Report2014 Year End Residential Properties Report

Cambridge housing prices across all types continued to rise in 2014 over 2013, while the number of homes and condominium sales again declined as the result of the lack of inventory. Single Family home prices rose by a significant 38.5%, while home sales were off by 21.8%. Condominium prices were up by 12.7%, while the number of sales were down by 25%. Multi-family prices were up by 22.1%, and sales were only slightly off by 4.1%.

The current market pace remains brisk, with over 50% of listings coming on the market and receiving multiple offers and a final sales price at or above the list price. Rent increases may continue to outpace home value growth, creating an ever stronger push for first time homebuyers and investors to seek multi-family homes to purchase in order to secure a relatively low monthly pay out. Further, single family homes will continue to appeal to relocating and upgrading buyers seeking a well located and long-term housing solution.

The Cambridge Office Market is more desirable than ever with Biopharma and Technology companies seeking to locate in the heart of the burgeoning innovation cluster in Kendall Square and Alewife, which will bring new buyers into the already deep pool of buyers looking for condominiums.

The challenge of demand outweighing inventory and the growth of prices may be somewhat moderated in 2015 by rising interest rates and declining affordability. That being said, 2015 sales will be buoyed by improving economic fundamentals, improved equity in existing homes and condominiums, and the re-entry of first time home buyers into the market.


ARLINGTON

WATERTOWN

SOMERVILLE

CAMBRIDGE

BOSTON

BELMONT

MEDFORD

The Robert Paul Market Report2014 Regional Sales Trends

2014 Year-End Sales Report Overall Housing Market Across The Region

$1M+ SALES

$1M+ SALES$1M+ SALES

$1M+ SALES

$1M+ SALES

$1M+ SALES

UP 180%

UP 34.6%

UP 128.6%

UP 22.7%

UP 2.61%

UP 600%

$1M+ SALES

HOME SALES

EVEN

DOWN 6.1%

Median Price: $550,000Highest Sale Price: $1,700,000Homes Sold: 561






Median Price: $430,000Highest Sale Price: $902,000Homes Sold: 596

UP 13.9%

UP 5.9%

UP 13.1%

UP 14.3%

UP 9.3%

UP 8.6%

UP 13.2%

MEDIAN PRICE

MEDIAN PRICE

MEDIAN PRICE

MEDIAN PRICE

MEDIAN PRICE

MEDIAN PRICE

MEDIAN PRICE

HOME SALES

UP 2.41%

HOME SALES

HOME SALESHOME SALES

DOWN 3.28%

DOWN 7.4%

DOWN 0.4%

HOME SALES

HOME SALES

DOWN 18.0%

DOWN 7.4%

Regional residential property sales realized significant price gains while a continued shortage of listed properties resulted in a slower number of sales compared to 2013. High-end sales, those properties over $1 Million, out-paced the overall market in growth. For at least the first half of 2015, interest rates are likely to remain low, and with some new mortgage products for first-time home buyers, and home price gains providing equity in this post-recession economy, we anticipate the hot markets to get hotter, with demand continuing to outweigh supply.

cambridge market report 2014 year-end sales...

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