Cambridge Market Update for February 2024

Below, you will find a Cambridge Market Update for February 2024, which will provide information on the local real estate market and recent sales activity in your area. Don’t hesitate to contact us if you have any questions or if you are ready to move forward with the next step!

Cambridge Market Update for February 2024

The housing market in Cambridge experienced moderate growth in sales throughout February. Compared to January, there was a notable uptick of 7% in the number of sales. Despite this surge, the average sale price across all housing types remained steady.

Currently, homes are receiving their full list price, with half of them even selling above the asking price. January witnessed a drop in inflation by 2.9%, prompting 58% of analysts to predict a forthcoming decrease in interest rates between April and June.

This presents an advantageous window for buyers to consider purchasing now, either with a longer closing period or a variable mortgage, in anticipation of lower rates later in the year.

For investors, the market offers promising opportunities with increased inventory and stable prices. With rents currently at high levels, a potential decline in interest rates could lead to heightened cash flow and equity growth through rising property prices.

I’m Trish Lewis with GoWylde Real Estate, and if you have any inquiries about the real estate market, feel free to reach out to me.