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Wondering how the market is doing in Cambridge MA?
 Linda Balliro, Broker Associate, Cambridge, Somerville & Greater Boston Real Estate

Just about every day people ask me:  “So how long is this down real estate market going to last? Where’s the recovery?”

They’re surprised when I tell them that in some markets, the recovery is already under way. You can see this in Cambridge real estate and the surrounding towns. (Consumer attitude often lags behind local market data.)
You see, there were lots of market indicators as far back as 2005 that the bust was on its way.  Despite the fact that inventory on the market was increasing, prices floated up well into 2007.  But there came a point when the “market data came home to roost.” 
And when it did, well... no need to rehash bad news.
In some markets (especially those where buyers have recognized the incredible values and low interest rates) we see several indicators which suggest rebounding market health:  Shrinking inventory, multiple offers, and fewer days on market.  This is especially true if you look at non-distressed properties.
If those indicators are in play, you’re not in a buyer’s market any more.  It’s becoming a seller’s market. 

In Cambridge, MA and the surrounding towns, ... more

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