Is West 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, West Worcester has remained a Seller's Market.
Key Takeaway
West Worcester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Worcester, MA
How much do homes in West Worcester, MA cost?
Median Sold Price
$448,083
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Worcester have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in West Worcester was $448,083 in April 2024, up 11.7% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $233.7K | -10.1% |
| 2 Bedrooms | $310K | $360K | +16.1% |
| 3 Bedrooms | $387K | $425.5K | +9.9% |
| 4 Bedrooms | $450K | $489K | +8.7% |
| 5+ Bedrooms | $580K | $645K | +11.2% |
Summary: West Worcester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.1%, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Tatnuck | $377K | $470K | +24.7% |
| Tatnuck | $379.9K | $425K | +11.9% |
| West Worcester | $401K | $448K | +11.7% |
| Salisbury Street / Newton Square | $452.5K | $500K | +10.5% |
| Cider Mill | $364K | $390K | +7.1% |
Housing Supply in West Worcester, MA
How many homes are available in West Worcester, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 97 | 91 | -6.2% |
Summary: The West Worcester real estate market had 91 homes for sale in April 2024, a 6.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 18 | -25.0% |
| 3 Bedrooms | 36 | 38 | +5.6% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 16 | 13 | -18.8% |
Summary: The West Worcester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 18.8%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 26 | -27.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Worcester, you could pay more than the asking price. 61.5% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in West Worcester in April 2024, down by 27.8% month-over-month. Of the 26 sold homes, 19% were sold under asking, 19% were sold at asking, and 62% were sold over asking.
Days on Market for West Worcester, MA
How long does it take to sell a home in West Worcester, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 29 Days | +43.3% |
Summary: Homes in West Worcester had an average of 29 days on market in Apr 2024, up by 43.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in West Worcester are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 26 homes were sold in West Worcester; 73% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
