Scott R, Home Buyer in Cambridge, MA

What is the average appreciation of a 1br apartment in Cambridge over the past couple of years? Since 2008, 2005, etc.

Asked by Scott R, Cambridge, MA Fri Mar 1, 2013

Home appreciation appears to vary significantly on the number of bedrooms, based off the trulia graphs.

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3
Lara Gordon’s answer
I recently did some slicing and dicing of data to try to get to the heart of property appreciation in Cambridge & Somerville, since the stats normally seen in the media are overly generalized and don't reveal the magnitude of recent price increases.

As an example, here's some info on last year's average price increase for 1BR/1ba condos in Cambridge without off-street parking:

2012 average price: $327,009 (based on 91 sales)
2011 average price: $306,066 (based on 93 sales)
$20,943 difference = 6.8% increase

I'm attaching a link to my full analysis of the 2012 market.

Now, it's too early to tell what will happen this year, but given the serious lack of inventory and the fact that almost every property on the market is receiving multiple offers, I'd expect these trends to continue this year.
0 votes Thank Flag Link Sat Mar 2, 2013
There is no standard formula for appreciation. It varies based on market conditions year to year, and how active the rental market is. Right now, rents are high and inventory is low so you can price your rent aggressively. Same if you were to sell. If you would like an updated CMA specific to your property please reach out privately. thanks!
0 votes Thank Flag Link Fri Mar 1, 2013
To get a more accurate answer to your question a little more info is needed such as what part of Cambridge you are talking about, what type of condo, and what condition...if you lump all that variety into one general average you won't get a full picture as to the Cambridge market. Feel free to contact me to discuss.


Damian Musello

Broker

GreenHome Realty, LLC

327 Highland Avenue, Somerville, MA 02144

Email: GreenHomeRealty@gmail.com

Phone: 617-650-6480

Member of the Multiple Listing Service; Massachusetts Licensed Broker; HomeGain Top Producer and Gold Club® Member; Certified Buyer Representative; Certified Negotiation Specialist; Certified Title Examiner.


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0 votes Thank Flag Link Fri Mar 1, 2013
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