Cambridge, MA Real Estate

If you are in the market for a new home in Cambridge, MA, you’re facing an uphill battle. As with many parts of the Greater Boston Area, this city’s real estate market has been friendlier to sellers than buyers for some time. To get what you need for a fair and competitive price, it’s crucial to have access to timely, accurate information. Without question, the best way to get that is by signing up with Boston City Properties. When you connect with us, you lay the groundwork for the smoothest, easiest Cambridge real estate experience possible.

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Why connect with Boston City Properties when searching for real estate in this bustling city? For one thing, we maintain one of the largest and most comprehensive online databases of searchable Massachusetts real estate listings on the internet. Populated with up-to-the-second information from reputable sources like the MLS, it includes a powerful search tool that lets you zero in precisely on what you need no matter where in the state you need it. The best part of all? We’ll give you free access right away. Just sign up using the easy form, and you’ll be on your way.

Situated directly adjacent to the city of Boston, which lies directly south across the Charles River, Cambridge is best known as being home to some of the most prestigious institutes of higher learning in the world, including Harvard University and the Massachusetts Institute of Technology, or MIT. Located in Middlesex County, the city had a population of around 105,000 at the time of the 2010 U.S. Census. Covered by zip codes 02138 through 02142, this city also shares its borders with Arlington, Somerville, Belmont and Watertown. Without question, it is ideally located whether you need close access to the city, to the LMA or to Cambridge itself.

One thing to bear in mind when considering real estate in Cambridge, MA, is that the cost of living in this city is pretty high. On a scale where 100 equals the average cost of living in the country, this city has a score of 148.9. Therefore, real estate here is inherently going to cost more than it does in other parts of the state. It also means that many other aspects of living here may be costlier, including things like utilities, parking, dining and more. If you are able to live here without a car, the cost of living is more manageable.

Cambridge real estate is expensive. There is no two ways around that. Across the state of Massachusetts, the median list price for residential real estate is $419,000, and the median sale price is $356,000. To put that into perspective, the median list price for real estate in this city is $1.2 million, and the median sale price is $784,000. As stands to reason, the average cost per square foot across the state, $242, is much lower than that of Cambridge, which is a whopping $784. Use our search tool to easily locate properties that suit your budget.

Lately, it has been more of a seller’s market across this city, which means that buyers often deal with bidding wars, and homes rarely sell for lower than list. Those who have access to accurate information regarding availability and the like tend to fare better than those who don’t, which is why our search tool comes in handy so much. In addition to providing access to our database, Boston City Properties can refer you to a real estate agent in Cambridge who knows its market well and whose assistance is sure to make a huge difference.

One good sign of the overall health of any local real estate market is how long properties sit there before selling. One would expect properties in Cambridge to fly right off the market, but the statistics suggest otherwise. Lately, homes have been on the market for an average of 53 days before selling. This statistic is a bit deceiving, however. It isn’t that no one is buying; it’s that there’s hardly anything available to buy. It is easy to see why people often get frustrated while trying to buy homes in this area, and it’s another example of why it pays to connect with Boston City Properties.

When looking to buy a new home, it makes sense to do what you can to ensure that it will maintain and increase in value over time. Since the Cambridge real estate market is so hot, you shouldn’t have anything to worry about. The better the price you get it for, of course, the better of you’ll be. Lately, homes in the area have been appreciating by a rate of around 3.3 percent year over year. Currently, only around 8.3 percent of residential properties in this city have negative equity, which is also a very good sign.

How do real estate prices in Cambridge vary from neighborhood to neighborhood? Based on the median sale price of $784,000, it’s easy to assume that you’re out of luck unless you’re looking for homes in that price range. However, some areas of Cambridge are pricier or more affordable than others. For example, the median sale price in West Cambridge is around $1.13 million; over in Wellington-Herrington, however, it’s closer to $607,000. These variations also somewhat reflect the types of real estate that are typically available; in some areas, for example, there are far more condos and apartments than single-family homes.

Cambridge has a solid inventory of homes, townhouses, condos and apartments. All told, there are more than 43,800 residential properties across this city, which makes sense given its population. Given its small area, however, this also means that the city is very densely populated. Of that 43,800, around 9 percent are single-family homes; around 6 percent are townhomes; and around 84 percent are classified as apartments. Around 10 percent of all properties are vacant. Of those that are habited, 31 percent are owned and 69 percent are rented.

What can you expect to pay based on the type of property that you need in Cambridge? Median sale prices for single-family homes vary widely from those of condos and apartments. To put this into perspective, consider this: In 2015, the median sale price for detached single-family homes in the city was around $1 million. Meanwhile, the median sale price for townhouses of all sizes was around $907,000. These properties don’t vary as much in value as those in many other communities, and this reflects the fact that real estate is so scarce in Cambridge at the moment. As always, the best way to find real estate you need is by searching Boston City Properties’ listings.

If you are looking to rent rather than buy, Boston City Properties can still help. As noted previously, around 69 percent of all properties are rented in this city rather than owned, so you will be in good company. Unfortunately, this also means that you’ll face a lot of competition—especially for the most in-demand apartments and other rentals. The median rental price in Cambridge, $2,711, is only a bit higher than that of the state, which is $2,500. Use our search tool to check current availability for apartments for rent in Cambridge based on preferences like price, total square footage and total beds and baths.

When compared with suburban areas, Cambridge doesn’t have nearly as much variety in terms of property types. If you are in the market for a single-family home here, the going will be particularly rough. Boston City Properties can connect you with a real estate pro in this city who can help. Attached homes like condos and townhouses are more readily available, and there is generally a good selection of apartments on the market at any given time.

Here’s what to expect about different types of Cambridge real estate:

Single-family homes – Of the more than 43,000 residential properties in Cambridge, only around 9 percent are classified as detached single-family homes. This makes sense when you consider the population density of this thriving city—and by the fact that there are so many students constantly coming and going from the area. It helps enormously to have the assistance of someone who has insider knowledge about the single-family home market in this city, and Boston City Properties can put you in touch with an agent who will make things a lot easier.
Townhouses and condos – There are fewer still condos and townhouses in this city. Unlike most parts of metro Boston, however, there are nearly as many of this type of property as single-family homes. Indeed, around 6 percent of residential properties are considered condos or townhouses here, meaning that they are not detached from one another. Special knowledge comes very much in handy when seeking these kinds of properties in a hot market like Cambridge’s, and again, that is where the help of an experienced agent is sure to make a massive difference. We’re happy to refer you whenever you’re ready.
Apartments – If apartments in Cambridge are what you seek, you are in luck. Almost 70 percent of all residential properties in the city fall into this category, so you’ll have the largest inventory to choose from when pursuing this option. Depending on what you need, however, the going may be rough. That’s especially true if you want a high-end luxury apartment or a tiny, super-affordable apartment. Both categories are complicated, and a great first step is searching our listings. Later, we can also connect you with an agent who specializes in apartments in Cambridge, and they can take you to look at options and more.

How Boston City Properties Can Help

As you can see, the Cambridge real estate market is very competitive. Regardless of whether you want to buy or rent or whether you want a single-family home, a condo, a townhouse or an apartment, the best first step is connecting with Boston City Properties. On this page, sign up using the simple form to get immediate, free, completely unlimited access to our constantly updated, easily searchable MA real estate listings. They are updated around the clock, so you can rest assured of always having the best and most accurate information.

Our search tool makes it a breeze to get a list of highly relevant results for your Cambridge real estate search. First, select this city from the list of locations. Note that if you are searching multiple cities or Boston neighborhoods, you can select more than one place. From there, use search filters to refine your results even more, ensuring more accurate and useful information. You can input your preferences for things like price range, total living area and total number of bedrooms and bathrooms to quickly find what you need. Listings are loaded with information and photos, and we’re here to answer any questions that you may have.

Before you know it, you will have a short list of promising Cambridge properties to explore. When you are ready to go take a look in person, get in touch with us. We will connect you with an experienced and knowledgeable local real estate expert who can arrange visits and tours. This same agent is sure to be indispensable during negotiations—especially given the current seller’s market—and will be there with you through closing or signing a lease. Don’t wait another second—sign up to search Boston City Properties’ listings now, or give us a call today.

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