The Worcester Homes For Sale Market Report

The Worcester report is always an important one due to the amount of data and the effect it has on the surrounding communities. The second biggest city in Massachusetts, it has a large impact on the communities around it. It's a trailing indicator though, as it often lags communities further east.

 

Can’t see the chart? You can find it Here .

What do we see? The trends remain in place. Sales volume is strong, inventory is tight (but not as tight as last year) and prices are moving up in a steady, rational manner. Also, in the last report, we saw a bunch of bank impacted inventory come one, and while it's still high, it's gone back down the the previous ratios.

 

What should active home buyers do in Worcester ?

Be knowledgeable about the area you are looking in - Worcester has many sub-markets, that move differently than the collected averages here. Prices could be higher or lower, and property could be moving faster or slower. Worcester is tricky, and buyers should be cautious, but overall the trends are positive.

 

 

What should potential home sellers do in Worcester ?

PRices continue to move up, so if you're looking to move out, next year could be the year.

Certain neighborhoods are moving briskly for homes in good condition, and you'll have a good chance of success in 2015.

 

 

Worcester Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Worcester ‘s “Home Seller Index” (HSI): 109 Last Report: 106
  • There are 342 homes listed as For Sale.
  • There have been 690 houses sold in the last 6 months, and 394 homes sold in the last 3 months in Worcester.
  • The Average number of Days on Market was 73 days for just SOLD homes.
  • There is an Average Market Time of 125 days of the Worcester homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $127 (vs. $123 in the last report)
  • There was an Average Sold Price of $196,150for sold homes.
  • Worcester, MA, has 14 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 41 properties advertised as a short-sale is going to be needed by the lender.

 

 

 

*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary, and is designed to offer town-by-town information, instead of large scale trends. (That means you won’t find it anywhere else. Take that, Case-Schilling!).

 

 

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