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Cambridge, MA

Page history last edited by PBworks 16 years ago

Market overview

 

 Add a property   Republish on your site   Create your own map  Edit/add to wiki

 

 

What's happening in this local housing market? Help coauthor a quick summary here:

 

Sales trend:

 

Price trend:

 

Inventory:

 

Housing market forecasts:

 

PMI U.S. Market Risk Index: Summer 2006

Cambridge-Newton-Framingham, MA has a 53.7% chance of a decline in home prices over the next two years according to PMI Mortgage Insurance Co., one of 13 markets nationwide that "face a 50% or greater risk" of decline.

 

Current market conditions:

 

Global Insight / National City Crop. Valuation: 2006/Q1

$391,400 median sales price (Cambridge-Framingham, MA)

3.5% overvalued

Not among the 71 "Extremely overvalued" housing markets nationwide (but single family homes are selling for below assessed value, as shown in the map above)

Source: Overvalued Housing Market? Depends Where You Live

Most Overvalued, Most Undervalued of the 317 Largest U.S. Metro Areas Examined

 

Past housing price corrections:

Price decline: 12%

Duration: 2 years (8 quarters)

Period: 1989Q4-1991Q3

Overvaluation prior to price correction: 40%

Valuation peak: 1987Q1

US News & World Report: Housing bubble correction could be severe

Where did prices fall in the last price correction?

 

Local bubble blogs:

Real Estate Cafe

Boston Bubble

The Massachusetts Housing Market

Ideas for this wiki (your comments are welcome)

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