Cost of Living in Cambridge in 2020: Multi-Families
Charles Cherney
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
Passionate about teaching after graduating from Harvard, I ultimately found myself drawn into the world of real estate in Cambridge and Somerville...
How much does a multi-family cost in Cambridge, MA?
At the end of 2012, the average cost of a multi-family in Cambridge, MA was $1,275,786.
At the end of 2015, the average cost of a condo in Cambridge, MA was $1,292,477.
At the end of 2018, the average cost of a condo in Cambridge, MA was $1,786,027.
If we look at the five quarters beginning January 1, 2019 and ending March 31, 2020:
The average sale price of a multi-family in Cambridge, MA at the end of this period of time was $2,149,250.
97 multi sales in Cambridge, MA during this period of time (1/1/19 – 3/31/20):
• No sales under $900,000
• 2 Sales between $900,000 and $1M
• 61 sales between $``1M and $2M
• 21 sales between $``2M and $3M
• 13 sales for $3M+
The heart of the multi-family market in Cambridge is between $1M and $2M with 61 sales in this price range during this timeframe.
Of the 97 multi-family sales during this time period:
• 55 sales were two-families (56% of sales)
• 27 sales were three-families (28% of sales)
• 7 sales were four-families (7% of sales)
• 9 sales were 5-families or larger (9% of sales)
Here are four Cambridge multi-family sales sold during this period of time to give you a better sense of the multi-family market in Cambridge, MA in 2019-2020:
Sold for $1,226,000 ↓↓↓↓↓ 3-Family near Kendall Sq.
Sold for $2,200,000 ↓↓↓↓↓ 3-Family near Central Sq.
107 Columbia Street, Cambridge MA
This 3-family listed and sold by Team Patti Brainard at Compass.
Sold for $2,500,000 ↓↓↓↓↓ Two-family in West Cambridge
Sold for $5,150,000 ↓↓↓↓↓ 6-family + 2-family outside Inman Sq.
31 Tremont Street, Cambridge MA
This six-family + 2-family listed and sold by Charles Cherney.
The average sale price of a multi-family in Cambridge in this period of time (1/1/19 – 3/31/20) was 98% of the list price.
The average number of days to offer was 27.
CLICK HERE to see the multi-families now for sale in Cambridge, MA.
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