Kendall Square saw the biggest price jump
About a week ago, we deep-dived into the changes in condo prices in Somerville and Cambridge over the last decade, with the help of research site NeighborhoodX. Long story short, condo prices in both cities have gone up, in some areas a lot more than in others.
Now we take a similar leap into the statistics covering single-family homes in Somerville and Cambridge. The below chart covers average per-square-foot sales prices of market-rate single-families in areas of both cities in 2006 and 2015. The figures are not adjusted for inflation, but are rather absolute values based on recorded deals.
A few quick takeaways:
- The biggest price jump was in (surprise, surprise) game-change-y Kendall Square in Cambridge, where the per-square-foot average increased 85 percent to $615 from $333.
- Somerville's Davis Square and Somerville's Winter Hill also saw sharp increases, 65 percent and 61 percent, respectively.
- The paltriest price increases were in Cambridge's Central and Harvard squares, both increasing only 30 percent ("only" being relative).
- Winter Hill and fellow Somerville neighborhood Union Square were the most affordable areas in both 2006 and 2015.
Below is the condo-price chart for further comparison.
Original Article by Curbed Boston - Click Here
Author: TOM ACITELLI