Real estate market statistics showing the Cambridge MA home price for Condo, Single, and Multi-Family homes sold 2021 through 2024 are provided below.
Cambridge MA Home Price
| Property Type | Avg. Sale $ | Median Sale $ | SP:OP |
| Condo | |||
| YE 2021 | $987,707 | $825,000 | 101% |
| YE 2022 | $1,112,433 | $907,500 | 101% |
| YE 2023 | $1,116,118 | $920,000 | 100% |
| YE 2024 | $1,110,001 | $931,000 | 102% |
| Single Family | |||
| YE 2021 | $2,124,383 | $1,800,000 | 105% |
| YE 2022 | $2,441,989 | $1,872,500 | 105% |
| YE 2023 | $2,646,388 | $2,000,000 | 101% |
| YE 2024 | $2,549,953 | $2,175,000 | 100% |
| Multi-Family | |||
| YE 2021 | $2,115,204 | $1,717,500 | 99% |
| YE 2022 | $2,166,418 | $1,887,500 | 97% |
| YE 2023 | $2,104,326 | $1.805,000 | 96% |
| YE 2024 | $2,220,723 | $1,755,000 | 100% |
KEY: YE = Year End SP:OP = Sale Price to Original Price Ratio
Data Source: MLS Pinergy® verified on 2-25-2025
©2025 Intellectual property of Tamela Roche, all rights reserved
Cambridge MA Home Listing Inventory 2021-2024
We expect the average home price to increase when demand is high and supply is low. A comparison of the total number of homes listed for sale in Cambridge MA from 2021 to 2024 are provided below:
| Property Type | YE 2021 | YE 2022 | YE 2023 | YE 2024 |
| Condo | 865 | 803 | 734 | 678 |
| Single-Family | 197 | 199 | 173 | 178 |
| Multi-Family | 149 | 133 | 98 | 107 |
KEY: YE = Year End
Data Source: MLS Pinergy® verified on 2-25-2025
©2025 Intellectual property of Tamela Roche, all rights reserved
Average Home Price Cambridge MA
How Is Average and Median Price Calculated?
In order to calculate an average home sale price, divide the total number of homes sold by the total sum of all home sale prices. Find the median sale price by sorting the data from the lowest to highest price, then find the middle value. It is not unusual in our local markets for the average sale price and median sale price to be significantly different.
Why Is Median Home Price Important?
Despite the fact that most media outlets will focus on the average home sale price in news about real estate; the median sale price is also very important. Mortgage underwriters watch median home sale price activity to determine risk for lending in any given market. An underwriter will typically analyze median home sale price activity either by a postal zip code or by the county as a whole.
Changes in the median home price will indicate if the home values are increasing or decreasing. Many factors determine the costs associated with a home mortgage loan. For example, borrowers who purchase a home in a market with decreasing median home sale prices may receive a higher mortgage interest rate.
About Cambridge MA
Location
Cambridge, Massachusetts is located 2.23 miles northwest of Boston and comprises approximately 6.5 square miles of land. The postal zip codes in Cambridge are 02138, 02139, 02140, 02141, 02142, 02163, and 02238 (used for PO Boxes only).
Style of Government
First settled in 1630, Cambridge was later incorporated as a city in 1846 and follows the “Plan E Proportional Representation” style of governing.
Residential Taxes in Cambridge MA
The residential tax rate in Cambridge MA for fiscal year 2025 is 6.35%. Tax rates are stated as a percentage for every $1,000 of the assessed value. Several types of tax savings are available; including a residential exemption for homeowners who qualify. Contact me today for details about Cambridge Residential Exemption.
For more information: Residential Taxes in MA
Additional Market Statistics
- Market Trends Cambridge MA 2024 – coming soon!
- Market Trends Cambridge MA 2023
- Arlington MA Market Statistics
- Belmont MA Market Statistics
- Medford MA Market Statistics
- Somerville MA Market Statistics
To learn more about the average home price and other real estate market statistics in Cambridge MA, contact me to schedule a Home Seller or Home Buyer Consultation. Primary service areas also include Arlington, Belmont, Medford, and Somerville Massachusetts.
