The prices in real estate in Cambridge, in the Massachusetts region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Cambridge has increased strongly during the last 6 months. In March, the average price per sq.feet was $634. In the following month the price per sq.feet increased considerably to $8,037. In the following two months the price per sq.feet has barely changed, going from $4,335.5 to $4,520.5 per sq.feet. The price per sq.feet has had a considerable deflation of 81 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $4,428 to $3,581.5 during July, and August.
Based upon to the price in Cambridge (cities), this has fallen considerably in the last 6 months. The average price during our first sample month during March, is $1,059,007. During April the price went through a considerable rise reaching $1,349,075. During the following two months (May, June) the average price had a considerable reduction of 63 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from $982,854 to $680,715.5, which means a 69 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $571,831 they are 19 % more affordable than the average price for Cambridge. The properties with the highest average price have 4 bedrooms, Their price is 75 % more costly than the average. After that we have properties with 3 bedrooms priced at $781,988.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $464 / sq.feet, with an average $574 / sq.feet price in Cambridge. The properties with the highest average prices have 1 bedroom. They are 21 % more expensive than the average followed by properties with 2 bedrooms with a price at $532 / sq.feet.
The graph displaying the average prices displays the property type "House" as the most costly one. At an cost of $571,831 it is 0 % more expensive than the average price in Cambridge. "Condo" is seen as the second dearest property type. The dearest property type is "Duplex" followed by "Condo". At a price of $663,190 it is 84 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of $573 / sq.feet followed by "Duplex" priced at $892 / sq.feet. "Condo" is the most costly type of property with a $4,702 / sq.feet cost followed by "Duplex" with an average price of $892 / sq.feet.