Is Worcester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
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
$414,280
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Worcester have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Worcester was $414,280 in November 2023, up 6.9% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $191.7K | +6.5% |
| 2 Bedrooms | $285.4K | $300K | +5.1% |
| 3 Bedrooms | $374.7K | $405K | +8.1% |
| 4 Bedrooms | $425.6K | $445K | +4.5% |
| 5+ Bedrooms | $549.1K | $593K | +8.0% |
Summary: Worcester housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 8%.
Median Sold Price Compared To Nearby Cities
| Shrewsbury | $530K | $583.5K | +10.1% |
| Millbury | $420K | $460K | +9.5% |
| Auburn | $390K | $422.5K | +8.3% |
| Worcester | $387.4K | $414.2K | +6.9% |
| Cherry Valley | $372.5K | $350K | -6.0% |
Housing Supply in Worcester, MA
How many homes are available in Worcester, MA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 414 | 378 | -8.7% |
Summary: The Worcester real estate market had 378 homes for sale in November 2023, a 8.7% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 6 | -33.3% |
| 2 Bedrooms | 76 | 84 | +10.5% |
| 3 Bedrooms | 146 | 132 | -9.6% |
| 4 Bedrooms | 69 | 64 | -7.2% |
| 5+ Bedrooms | 114 | 92 | -19.3% |
Summary: The Worcester housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes decreased by 19.3%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 126 | 106 | -15.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
73 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Worcester, you could pay more than the asking price. 68.9% of homes here sold above asking price last month.
Summary: A total of 106 homes were sold or pending in Worcester in November 2023, down by 15.9% month-over-month. Of the 106 sold homes, 18% were sold under asking, 13% were sold at asking, and 69% 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
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 28 Days | 21 Days | -25.1% |
Summary: Homes in Worcester had an average of 21 days on market in Nov 2023, down by 25.1% compared to last year.
Breakdown of Home Sale Times
89 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 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 November 2023, 106 homes were sold in Worcester; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
