The number of sales of single family homes were off by merely 1% in Cambridge, MA for the period January through November 2009 v. 2008. Look at the data, we can see that almost all of the drop came in the $500K to $9K range with a surprising increase on the properties priced below $500K. The total volume of condos sold in Cambridge, MA, was beyond the chart range used for this exercise. Still one can see that the number of sales of condos were off by 12% which is a more significant change compared to the single family category. However, note the increase of number of sales from 12 to 17 properties sold up from 2008 between $1M and $1.5M. Yet the $500K to $1M range dropped almost 28%. These fluxuations call for professional expertise when pricing a property particularly in a challenging market. |