This Crazy Market…

2014 is proving to be just as “vibrant” (challenging, inventory-less) as 2013. Let’s look at the current inventory of single-family homes, condominiums and multi-family homes on the market today in Cambridge and Somerville as compared March 18th for the past five years:

Cambridge – On the Market March 18th, 2010 – 2014

ca_sfh_2014

(44, 40, 19, 16, 6)

Cambridge Condos

(220, 237, 97, 80, 49)

Cambridge Multi-Families

(29, 17, 10, 4, 4)

Somerville – On the Market March 18th, 2010 – 2014

Somerville Single Family Homes

(16, 19, 9, 5, 8)

Somerville Condos

(124, 106, 78, 34, 20)

Somerville Multi-Families

Here’s a recent article from Curbed on absorption rates (looking at how little inventory we have and how quickly the market is moving). According to the article we are in “OMG” and “WTF” territory.

And for a little levity – and perspective – here’s a look at Castles that cost less than an apartment in NYC!