Cost of Living in Cambridge in 2020: Multi-Families

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.

66 Hurley Street, Cambridge MA

This three-family listed and sold by Charles Cherney.

VIEW DETAILS

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.

VIEW DETAILS

Sold for $2,500,000 ↓↓↓↓↓ Two-family in West Cambridge

145 Lakeview Avenue, Cambridge MA

This two-family listed and sold by Charles Cherney

VIEW DETAILS

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.

VIEW DETAILS

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.

Have questions? Need help? Contact me.