Cambridge One Bedroom Condo Market Update
By Gary Dwyer
First-time buyers looking across the river from Boston to Cambridge didn't see much price relief over the past 6 years. Looking back in the January 1, 2007 - March 1, 2007 timeframe we saw that the average sale price of one bedroom condos was $363K. Fast forward to 2013 and add 20% and that is where you find the average one bedroom condo in 2013 - priced at $436K. Given high demand and low interest rates we are definitely going to see a very competitive market in the Spring 2013 time-frame. Make sure you are working with a buyer agent, like Buyer Agents of Boston, that is versed in competitive and multiple bid situations.