Buying a Condo in Central Square
If you are thinking of buying a condo in the Central Square neighborhood in Cambridge, I have some good news and bad news for you. The good news is that close to 100 condos sold within walking distance to Central Square in 2025, the bad news is the average sold price was $1.125M.
But it really depends on what specifically you are looking for. Most studios around Central Square go for around $500k to $550k, an extra nice studio may go for $600k on the high end.
One beds will vary quite a lot depending on condition, amenities, layout, size, and if it’s in a large building or smaller building (generally units in smaller buildings sell for more). I would expect to spend between $500k on the very low and $750k on the high end.
When it comes to 2-bed units, there is a very wide range and it will depend on if the unit is investment grade or owner occupant grade (there are a lot of investment quality units in Central Square). It will also depend on if the unit has one full bath or two, as well as amenities like parking, washer/dryer in-unit, central AC, layout, size, and overall condition. On the extreme low end you can get a poor condition, investment grade 2-bed that is small (around 700 square feet) for around $625kish in Central Square, but you can also buy gut renovated, large ~1,200 square ft 2-bed/2-bath units in Central Square for as much as $1.2M to $1.3M.
This same story holds true for 3-beds, you can get investment grade options for mid $800s, but high-end townhouses can easily go for $2M+ and you start seeing some decent options around $1.4M to $1.5M range. And if you absolutely need a 4-bed condo, expect to spend around $1.8M and up.
Keep in mind, all of this data is based on 2025 numbers and the market is always shifting. So if you’d like to understand what condo you can buy in Central Square Cambridge at this precise moment, just give me a ring and I can help. My cell is 617-833-7457!
Recent condos that I helped clients buy in Central Square:
20 Corporal McTernan St: My clients found an opportunity with this one - a beautiful 1-bed condo that was in the middle of an extensive window special assessment. Even though the assessment was being paid by the seller, it freaked out a lot of buyers. Ultimately the property sat for quite a while and we landed at a very strong price point WITH brand new windows throughout by closing. Just months later another 1-bed sold in the same building for well over $100k more than this one! A great value and a great opportunity we were able to take advantage of!
55 Magazine St: My clients were looking for a 2-bed for their child close to universities in Cambridge. This building didn't only have an ideal location, it was in a well-maintained building with a great layout, ideal for two roommates with bedrooms on the opposite ends of the floorplan. The kitchen was updated and the unit also had laundry in-unit plus parking, both nice pluses for a condo so close to Central Square!