The Worcester Homes For Sale Market Report
Ah, the Worcester Report. Looking for the future? Worcester gives us important clues as to where the market is headed. With lots and lots of residents, the large sample set tells us a lot about how much slack there is in the market. The chart says:
Can’t see the chart? You can find it Here .
Well, the chart says that Worcester is getting tight on inventory too! Sales keep churning at over 600 homes per month, and that keeps the pressure on for new listings. Their numbers are falling though.
Perhaps the most interesting thing of note is that the bank impacted homes is down not just in overall numbers - at 30 that's the lowest total on the board for short-sales and foreclosures - but also down as the over all picture of the market place - just 10% of the marketed inventory. In other places, when those numbers fall - and stall low - prices start moving up pretty quickly, both because sellers want more and generally the houses being sold are in better condition.
What should active home buyers do in Worcester?
Prices have not jumped as much as I would have expected in this report, but the nicer homes in good locations are going to be getting multiple offers at this point. Most homes won't get crazy, but things are going to move quickly for sure this spring. Make sure you know the VALUE of what you are purchasing - Worcester is tricky - because there are fewer homes to review and set your price barometer.
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What should potential home sellers do in Worcester?
Sellers are very optimistic in Worcester. They should be! They are asking 140+/sq foot - well above the current sales trend. With everyone reaching for the next level of prices, you can too, so this is a great time to sell in Worcester.
Worcester Houses For Sale and Sold Market Statistics - Raw MLS Data
- Worcester‘s “Home Seller Index” (HSI):114 Last Report: 109
- There are 288 homes listed as For Sale.
- There have been 616 houses sold in the last 6 months, and 364 homes sold in the last 3 months in Worcester.
Will more home sellers come with the flowers? Time will tell.
- The Average number of Days on Market was 74 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 $125 (vs. $127 in the last report)
- Current sellers are looking for $ X /sq foot
- There was an Average Sold Price of $191,062 for sold homes.
- Worcester,MA, has 11 properties advertised as lender owned or foreclosure (typically foreclosure) .
- There are 19 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!).
Matt’s Got More
Hold on there! Don’t go yet. Realtor Matt’s got lots more you to check out if you are planning to buy or sell a home. Why not look here, and find out a lot more about Radon, New Construction, Title V, House Styles, Town Assessments, MCAS scores, and even some tips to get the best rate possible on your mortgage.