The pace of sales slows in the summer months of June and July and August. That said, there is still activity in the market in these months. Indeed, a pool of new buyers who will be at MIT or Harvard often enter the market at this time, with the idea of being settled before the new school year in September.

The fall market runs from just after Labor Day until mid November. With summer vacations finished and folks back in the saddle for the new school year, the fall market is a time of increased activity for those buyers still looking to close before the end of the calendar year.

The winter market is the slowest time – November and December and January. The holidays and darkness early in the evening generally mean fewer properties for sale and fewer buyers looking to buy. Now and then, a buyer can get a bargain in the winter market.

The new year brings the early advent of the spring market. Late January into February is a transitional moment in the market. Depending on the weather, the winter market can drag on or the spring market can get an early start. This is an interesting time for a buyer to be lookiing, as there is generally a bit less pressure.

Cambridge and Somerville Real Estate Blog.

A review of MLS sales data shows that in the five year period 2002 through 2006, 494 multi-family properties SOLD in Cambridge – an average of 99 a year. In the last five years – 2007 through 2011 – 333 multi-families SOLD in Cambridge – an average of 66 a year. The total number of multi-family transactions in Cambridge, MA reported in MLS between 2007 and 2011 is 33% below the previous five-year period between 2002 and 2006.

Two-family at 32-34 Royal Avenue which I listed & sold in 2002 - and then listed & sold again in 2011.

What accounts for the decrease in the number of multi-family sales in Cambridge, MA? For sure, many multis are converted into condominium associations. As a result, these multis come to the market just once as multis. As a result, the number of multifamily properties in Cambridge, MA is getting smaller and smaller with each passing year. I believe this goes a long way towards explaining the reduction in the total number of sales.

As for the health of the Cambridge multi-family market, the average sales price has been steadily increasing over the last decade, with only a slight dip in the period 2007-2009, as can be seen in the chart below:

Average Sale Price of a Cambridge Multi-family 2000-2011.

In 2012, there have been multiple instances of multi-family multiple offer situations. Even with limited supply and rising prices, the demand for multi-families in Cambridge remains strong.

Are you looking to buy or sell in Cambridge? I am a Harvard graduate, Cambridge resident, and top real estate broker in the area since 1999. To gain access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at CharlesCherney.com.

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Living room at 351 Walden #1. I listed and sold this condo in 2011 for $810,000.

A few observations about these 27 3-bedroom condo sale events in Cambridge in 2011:

- 16 of the 27 are townhouse style units.

- 12 of the 27 are newly renovated or new construction.

- 23 of the 27 feature parking for at least one car.

- Average living area 1,693 square feet.

- 11 of the 27 SOLD between $675,000 and $705,000.

- 13 of the 27 SOLD between $750,000 and $799,000.

- 3 SOLD between $800,000 and $825,000.

- Average days on market – 52 days.

- Average price per square foot $454.

- Average list price $753,696.

- Average sale price $744,056.

- 2 in Riverside neighborhood

- 5 in North Cambridge neighborhood

- 6 in Cambridgeport neighborhood

- 6 in Mid Cambridge neighborhood

- 8 in Peabody neighborhood

It is fascinating to see that the 3-br offerings in the 675 to 825 price range tend to gather into two price ranges (high 600s and high 700s) and that just over half the offerings are townhouses and just under half are newly renovated.

I would be happy to share with you additional thoughts and insights about these sale events and be of assistance to you with buying or selling

If you are considering buying or selling real estate in Cambridge or Somerville, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937. I am a Harvard graduate, a Cambridge resident and a top broker in Cambridge & Somerville since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge and Somerville, MA log in as as new visitor at Cambridge Real Estate.

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Over the last ten years I have greatly enjoyed assisting Harvard professors, Harvard students and fellow Harvard alums with buying and selling in Cambridge. I have enjoyed working with Harvardians and their families at Harvard Law School, Harvard Business School, The Kennedy School, Harvard College and at the Harvard graduate schools – all Harvard connections are welcome! Always a pleasure to work with members of  the Harvard family – past, present and future!

One Harvard professor I worked with writes the following: “Charles Cherney was consummately professional in his work with us. He kept us regularly informed about possible properties as we searched for just the right house. It was a pleasure to work with him throughout the process and he has our strong recommendation for anyone seeking a principled, knowledgeable, efficient and client-orientated real estate professional.”

If you would like, you can gain access right now to all Cambridge MA real estate active MLS listings if you log in as a new visitor.

Cambridge and Somerville Real Estate Blog.

Every buyer is different. Some need to have seen many places, often more than once, to know their mind and feel comfortable about proceeding with an offer. Others are ready to go if lightning strikes and they find the perfect place manifests itself on the first day of their search.

There is no “right way” or “wrong way” to be as a buyer. I often say to buyers, take as much time as you need to make a decision for yourself. However, once you have made a decision, act swiftly.

As a buyer’s agent, I complete a market analysis for a buyer, so that the buyer understands the market value of the property they are interested in making an offer on. A property is ultimately worth what a buyer in the marketplace is prepared to pay for it. That being said, it is useful for a buyer to know what the market value is, so that they understand if the property is a) a bargain b) priced at market value c) “overpriced.”

For a buyer ready to go, it is helpful to have an experienced buyer’s agent such as myself on board in the decision-making process. Having seen the vast majority of properties listed for sale in Cambridge in the past ten years, I can help the buyer understand an opportunity in terms of other relevant properties now for sale, currently under accepted offer, or recently sold. I can do this because I am familiar with these other properties and can compare and contrast them with the property of potential interest to the buyer client. I can also carefully review with a buyer client the various terms of their offer and help the buyer make informed decisions about all aspects of the offer they are making. As a buyer’s agent, I can also recommend home inspectors and real estate attorneys, among others.

If you are considering buying (or selling) in Cambridge, I am here to help. I can be reached at ccherney@hammondre.com or 617-733-8937.  I am a Harvard graduate, a Cambridge resident and a top broker in the city since 1999.

To gain instant access to photos and descriptions of all MLS properties now for sale in Cambridge, MA log in as as new visitor at Cambridge Real Estate.

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