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How Much Does a 1 Bedroom Condo Cost in a Concierge Building in Cambridge in 2016?

How much does a one-bedroom condo cost in a concierge elevator building in Cambridge in 2016?

Year to date in 2016 (through December 7, 2016) MLS reports forty-five 1-br sales in concierge elevator buildings in Cambridge. (Another seven 1-br sales are pending in Cambridge concierge buildings at this time.) In 2015, MLS reported thirty-seven 1-br sales in concierge elevator buildings in Cambridge.

For the forty-five closed 1-br sales in Cambridge concierge elevator buildings reported in MLS in 2016:

Average sale price $645,209 in 2016 (up from $586,747 in 2015, a 9% increase)
Average living area 811 square feet 
Average sale price per square foot $792 (up from $740 per square foot in 2015)
Average days to an offer being accepted is 23, (compared to 52 days to an offer in 2015)
Sale prices ranged from $455,000 to $1,190,000

There are twelve concierge elevator buildings in Cambridge (pictured above is River Court (10 Rogers Street) in East Cambridge.
Click here to see active listings in the twelve concierge buildings in Cambridge

There are four concierge buildings in West Cambridge (including Harvard Square):
975 Memorial Drive (Residences at the Charles)

No 1-br sales at the Residences at the Charles reported in MLS in 2016

130 Mount Auburn Street (University Green)
Two 1-br sales at University Green reported in MLS in 2016
130 Mount Auburn Street Unit 114 sold for $1,185,000 - This is a nice 1+ with a private patio garden. I sold it in 2007 for $765,000. I listed and sold it in 2010 for $800,000. I listed and sold it again in 2014 for $1,100,000. That is a lot of appreciation over 10 years! $1,147 per square foot at $1,185,000 sale price.
130 Mount Auburn Street Unit 212 sold for $1,190,000

221 Mount Auburn Street (Riverview)
Two 1-br sales at Riverview reported in MLS in 2016:
221 Mount Auburn Street Unit 302 sold for $1,110,000 - I listed and sold this unit in 2015 for $1,050,000. Renovated residence. Sold again in 2016 in same condition. $1,123 per square foot at $1,110,000 sale price.

221 Mount Auburn Street Unit 402 sold for $790,000 - This unit needed updates at point of purchase, hence price difference with 302.

1010 Memorial Drive
No 1-br sales reported in MLS in 2016 at 1010 Memorial Drive

There are two concierge buildings in Mid Cambridge
931 Massachusetts Avenue
No 1-br sales reported in MLS in 2016 at 931 Mass. Ave

950 Massachusetts Avenue (Bay Square)
One 1-br sale reported in MLS in 2016 at 950 Mass. Ave:
950 Mass. Ave. Unit 220 sold for $515,000

There are six concierge buildings in East Cambridge:
The Esplanade (75-83 Cambridge Parkway)
No 1-br sales reported in MLS in 2016 at the Esplanade. There are two one-bedroom units now under accepted offer at the Esplanade, both scheduled to close in December 2016:

Unit 601 is a larger one-bedroom plus study with river view. 1,410 square feet. List price $1,395,000. $989 a square foot at list price.

Unit E504 is a smaller one-bedroom with 785 square feet. List price $669,000. $852 a square foot at list price.

Click here to see 1-br sales since January 1, 2016 at the Esplanade

River Court (10 Rogers Street)
Four 1-br sales reported in MLS in 2016 at River Court {one more 1-br sale - 10 Rogers Unit 1103 is now pending here}:
Click here to see 1-br sales since January 1, 2016 at River Court
For the four 1-br sales at River Court in 2016 reported sold through December 7, 2016, average sale price is $692,500. Two sales in the $600s and two in the $700s. Average living area 875 square feet. Average of 5 days on market until accepted offer.

Thomas Graves Landing (4 and 6 Canal Park)
Four 1-br sales reported in MLS in 2016 at Thomas Graves Landing (4-6 Canal Park):
Click here to see 1-br sales since January 1, 2016 at Thomas Graves Landing (4-6 Canal Park)
For the four 1-br sales at 4-6 Canal Park in 2016, average sale price $668,750. Three sales in $600s and one at $700,000. Average living area 807 square feet. Average of 10 days on market until accepted offer.

One First (17 Otis and 20-28 Second Street and 150 Cambridge Street)
Three one-bedroom sales reported in MLS in 2016 at One First {one more 1-br sale is now pending here}. All three sales at 17 Otis in 2016:
17 Otis Street Unit 210 sold for $720,000
17 Otis Street Unit 106 sold for $640,000
17 Otis Street Unit 309 sold for $575,000
Average sale price for these three 1-br sales is $645,000. Average living area 823 square feet. Average of 13 days on market until accepted offer.

Regatta Riverview (8-10-12 Museum Way)
Twelve 1-br sales reported in MLS in 2016 at Regatta Riverview {two more 1-br sales are now pending here}
Click here to see 1-br sales since January 1, 2016 at Regatta Riverview
Average sale price for the twelve 1-br sales at Regatta Riverview reported as sold in MLS in 2016 is $509,208. Average living area 686 square feet. Average of 25 days on market until accepted offer.

NorthPoint (1 and 2 Earhart) {one more 1-br sale is now pending here)
Seventeen 1-br sales reported in MLS in 2016 at NorthPoint
Click here to see 1-br sales since January 1, 2016 at NorthPoint (1 and 2 Earhart)
Average sale price for these seventeen 1-br sales reported as sold in MLS in 2016 is $636,259. Average living area 848 square feet. Average of 26 days on market until accepted offer.

I help buyers buy and sellers sell in Cambridge and Somerville, MA. Here to help you. Let's talk.

Call me at 617-733-8937 or email me.

See frequently asked questions and my answers to them at AskCharlesCherney.com

Check out the Cambridge Somerville Buy Sell Report at CharlesCherneyBuySellReport.com

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