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Our Cambridge, MA real estate website provides a wealth of information for home buyers and home sellers. Below, you will find information on the history and culture of Cambridge as well as links to more detailed information such as demographics and schools. You may view a virtual tour, search homes for sale, and access information on different types of properties such as condos, farms, foreclosures, and vacation homes. This website will give you everything you need to buy or sell a home in Cambridge, MA.
Virtual Homes is a full-service residential real estate company dedicated to providing a wealth of real estate and local community information to home buyers and home sellers. Our agents are ready to assist you with all of your real estate needs.
Cambridge MA Community Profile & History
Cambridge, Massachusetts is a unique community in its mix of cultural and social diversity, intellectual vitality and technical innovation. The city is home to internationally-known Harvard University and the Massachusetts Institute of Technology; over one-fourth of all its residents are students, while one-sixth of all its jobs are in higher education. Yet residents feel that it is far more than a college town.
One of the first towns settled by the 700 Puritan founders of the Massachusetts Bay Colony, the community was established as Newetowne in 1630. Today, world-renowned Harvard Square sits where the original village site once stood. Now the oldest and most prestigious institute of higher education in the United States, Harvard College was founded by the colonial Massachusetts legislature as a training school for ministers in 1636. With the construction of the West Boston Bridge in 1792 and the Canal Bridge in 1809, the city began to grow rapidly, emerging as Boston's largest neighbor by the middle of the 19th century.
The city has long been an industrial innovator, producing America's first factories for ladders, piano keys and waterproof hats. At one point, it was the third largest industrial center in the Commonwealth. Today, former factory buildings which once turned out soap or socks house cutting-edge firms in biotechnology, computer software and other emerging technologies. Close to one-third of Massachusetts biomedical employers resides in the city. Among the city's largest employers is the Massachusetts Institute of Technology (MIT), a major research institution at the forefront of international developments in science and technology that is consistently ranked among the top five universities in the nation.
Situated at the heart of New England, the city boasts an assortment of historic architecture, a diverse business climate, unparalleled arts and entertainment options, and easy accessibility to the coast, the mountains and the major cities of the Northeast. Harvard Square offers dozens of fine restaurants, high-end shopping, a wide array of art galleries, cafes and bookstores, a thriving nightlife and an abundance of nearby historic sites, including fabled Harvard Yard. Central Square features a fine selection of ethnic cuisine and some of the region's most popular live music venues, while Kendall Square is home to a stunning array of contemporary architecture, chic cafes and the office towers of several major high-tech and research firms. Over fifty languages may be heard on the streets of the city. Children from 82 different countries of origin attend the public schools. An out-of-town visitor might enjoy a Greek festival or a Caribbean gala on the same weekend and buy Portuguese pastries or fresh fish in one block. Cambridge is the spirited, slightly mischievous side of Boston, located just a bridge away on the other side of the Charles River. Packed with international flair and a youthful vitality, it is a city where the counterculture still lives, classical culture thrives, and multicultural is a way of life.
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Different financing alternatives are available depending on whether you are purchasing a single family, condo, multi-family, or investment property. Understanding the pros and cons of each may help you decide which option is the best for you. Speak to our buyer agent professionals and mortgage partners to understand and evaluate your options.
Cambridge, MA Real Estate Market Statistics
The following information was extracted from the state-wide MLS system and its accuracy is not guranteed.
Cambridge Single Family Home Sales Trends:
| Year Days on Market #Sold Average Price Lowest Price Median Price Highest Price |
2006 110 148 $1065982 $165000 $808825 $7250000 |
2007 96 133 $1014498 $235000 $659000 $4935000 |
2008 85 109 $1134794 $240000 $755000 $4921500 |
2009 86 110 $1079621 $260000 $761250 $4850000 |
2010 72 127 $1158321 $275000 $862500 $4250000 |
Average Selling Price of Single Family Homes in Cambridge
| 2006 |  $1065982 | |
| 2007 | $1014498 | |
| 2008 | $1134794 | |
| 2009 | $1079621 | |
| 2010 | $1158321 |
Cambridge Condominum Sales Trends:
| Year Days on Market #Sold Average Price Lowest Price Median Price Highest Price |
2006 115 850 $470555 $152000 $423450 $3400000 |
2007 81 1000 $471194 $167500 $420000 $2050000 |
2008 92 748 $474540 $150000 $414000 $2800000 |
2009 78 667 $459938 $172500 $415000 $1990000 |
2010 82 660 $494283 $135000 $427750 $4250000 |
Average Selling Price of Condominiums in Cambridge
| 2006 | $470555 | |
| 2007 | $471194 | |
| 2008 | $474540 | |
| 2009 | $459938 | |
| 2010 | $494283 |