Is Worcester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Worcester has remained a Seller's Market.
Key Takeaway
Worcester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Worcester, MA
How much do homes in Worcester, MA cost?
Median Sold Price
$424,937
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Worcester have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Worcester was $424,937 in April 2024, up 7.6% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $203K | +12.8% |
| 2 Bedrooms | $283.8K | $315K | +11.0% |
| 3 Bedrooms | $385K | $410K | +6.5% |
| 4 Bedrooms | $425.3K | $460K | +8.2% |
| 5+ Bedrooms | $555K | $625K | +12.6% |
Summary: Worcester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.8%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 12.6%.
Median Sold Price Compared To Nearby Cities
| Shrewsbury | $542.5K | $612.5K | +12.9% |
| Millbury | $435K | $475.5K | +9.3% |
| Worcester | $394.9K | $424.9K | +7.6% |
| Cherry Valley | $367K | $390K | +6.3% |
| Auburn | $408K | $425K | +4.2% |
Housing Supply in Worcester, MA
How many homes are available in Worcester, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 326 | 346 | +6.1% |
Summary: The Worcester real estate market had 346 homes for sale in April 2024, a 6.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 8 | -20.0% |
| 2 Bedrooms | 81 | 87 | +7.4% |
| 3 Bedrooms | 94 | 102 | +8.5% |
| 4 Bedrooms | 51 | 58 | +13.7% |
| 5+ Bedrooms | 90 | 91 | +1.1% |
Summary: The Worcester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 13.7%, and 5+ bedroom homes increased by 1.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 99 | 90 | -9.1% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
60 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Worcester, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 90 homes were sold or pending in Worcester in April 2024, down by 9.1% month-over-month. Of the 90 sold homes, 21% were sold under asking, 12% were sold at asking, and 67% were sold over asking.
Days on Market for Worcester, MA
How long does it take to sell a home in Worcester, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 19 Days | 23 Days | +24.6% |
Summary: Homes in Worcester had an average of 23 days on market in Apr 2024, up by 24.6% compared to last year.
Breakdown of Home Sale Times
71 Homes Were Sold
Under 30 Days
17 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Worcester are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 90 homes were sold in Worcester; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
