Cambridge, Massachusetts, single-family home sales increased in May on a year-over-year basis even as median prices dropped, signaling a possible market adjustment ahead of summer.
Single-family transactions rose 25 percent year-over-year, up only three sales, and median home prices declined nearly 10 percent to $1.93 million, according to data compiled by the Massachusetts Association of Realtors (MAR).
Condominium sales decreased by nearly 4 percent and prices declined by 9 percent in May compared to May 2024; however, prices through May were up 13 percent, indicating a possible shift in the condo market.
The following is more Cambridge housing data from MAR.
Single-Family Properties in Cambridge, MA
Pending Sales: Up 40 percent (from 15 in May 2024 to 21 in May 2025).
Closed Sales: Up 25 percent (from 12 to 15).
Median Sales Price: Down nearly 10 percent (from $2,134,000 to $1,925,000 in May). Through May, prices declined 12 percent ($2,270,000 to $2,000,000).
Inventory of Homes for Sale: Slightly decreased by 2 (from 32 to 30).
Months Supply of Inventory: Down 21 percent (from 4.2 months to 3.3 months).
Cumulative Days on Market: Negligible increase of 3 percent (from 36 to 37 days).
Percentage of Original List Price Received: Competition for homes increased, with home buyers paying, on average, 106 percent, up from 103 percent, of the original listing price.
New Listings: Increased 18 percent (from 17 to 20).
Cambridge, MA Condo Market
Pending Sales: Down 6 percent (from 63 to 59 in May), but through May, up 7 percent (from 208 to 222).
Closed Sales: Down nearly 4 percent (from 57 to 55), and unchanged through May (176).
Median Sales Price: Down 9 percent (from $1,100,000 to $998,000 in May), but up 13 percent from January through May (from $960,000 to $1,085,000).
Inventory of Homes for Sale: Decrease by only three available properties (from 126 to 122).
Months Supply of Inventory: Declined 3 percent (from 3.1 months to 3.0 months).
Cumulative Days on Market: Increased 5 percent, just two days, from 41 to 43 days.
Percentage of Original List Price Received: Condo buyers paid, on average, 99 percent of the original listing price, down from 102 percent.
New Listings: Up 13 percent (from 80 to 90).
Cambridge, MA Real Estate Key Takeaways
1. Single-family home prices are under pressure despite strong buyer activity: In May, single-family pending sales surged 40 percent, and closed sales jumped 25 percent, yet the median sales price fell nearly 10 percent year-over-year for the month and almost 12 percent for the January-through-May period. The trend suggests sellers may be adjusting expectations in response to home buyer sensitivity at higher price points.
2. The condo market tells a tale of two trends: Through May, strength, but softness in May. Condominium median prices rose 13 percent through May compared to the same five-month period in 2024, highlighting strong demand earlier this year. In May, price growth reversed course, with the median price dropping 9 percent. The percentage of original list price home buyers paid fell, indicating buyers gained a little leverage in May.
3. Homes are lingering longer, even as sellers receive strong offers: Across both property types, the cumulative days on market increased (Single family: +29 percent; Condos: +7 percent through May). Still, sellers received a higher percentage of their asking price for single-family homes (106 percent in May), indicating that correctly priced and well-maintained properties continue to attract competition.
4. Inventory remains tight, keeping pressure on the market: The inventory of houses and condos for sale shrank compared to May 2024 (Single family: –6 percent; Condos: –3 percent); however, the months supply of inventory was more than twice the 1.3 months in May 2021. Condominium buyers should monitor inventory in the coming months.
