Is Worcester, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Worcester is a seller's market

Buyer's
Market

Difference Since February 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

$415,846

$247/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$24,646(+6.3%)

Key Takeaway

Homes in Worcester have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in Worcester was $415,846 in February 2024, up 6.3% from last year, and the median price per square foot was $247.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $185K$190K
+2.7%
2 $284.6K$305K
+7.1%
3 $380K$406K
+6.8%
4 $430K$450K
+4.7%
5+ $550K$615K
+11.8%

Summary: Worcester housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 11.8%.

Median Sold Price Compared To Nearby Cities

Millbury
+9.7%
Shrewsbury
+8.7%
Worcester
+6.3%
Auburn
+2.8%

Housing Supply in Worcester, MA

How many homes are available in Worcester, MA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
261238-8.8%

Summary: The Worcester real estate market had 238 homes for sale in February 2024, a 8.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 65
-16.7%
2 6763
-6.0%
3 7977
-2.5%
4 4239
-7.1%
5+ 6754
-19.4%

Summary: The Worcester housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 6%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 19.4%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
8570-17.6%

Asking Price vs. Sold Price

27 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Worcester, you could pay more than the asking price. 45.7% of homes here sold above asking price last month.

Summary: A total of 70 homes were sold or pending in Worcester in February 2024, down by 17.6% month-over-month. Of the 70 sold homes, 39% were sold under asking, 16% were sold at asking, and 46% 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

Feb 2023Feb 2024CHANGE
35 Days34 Days-4.1%

Summary: Homes in Worcester had an average of 34 days on market in Feb 2024, down by 4.1% compared to last year.

Breakdown of Home Sale Times

42 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Worcester are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 70 homes were sold in Worcester; 60% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in Worcester, MA

Nearby Markets to Worcester, MA

What housing markets are near Worcester, MA?