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 September 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

$446,428

$254/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$41,373(+10.2%)

Key Takeaway

Homes in Worcester have sold for 10.2% more than they did a year ago.

Summary: The median home sold price in Worcester was $446,428 in September 2024, up 10.2% from last year, and the median price per square foot was $254.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $202.7K$219K
+8.0%
2 $298.4K$331.6K
+11.1%
3 $399.9K$424.5K
+6.2%
4 $430.6K$491K
+14.0%
5+ $580K$650K
+12.1%

Summary: Worcester housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 14%, and 5+ bedroom homes increased by 12.1%.

Median Sold Price Compared To Nearby Cities

Worcester
+10.2%
Shrewsbury
+8.7%
Millbury
+5.3%
Auburn
+1.8%

Housing Supply in Worcester, MA

How many homes are available in Worcester, MA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
408411+0.7%

Summary: The Worcester real estate market had 411 homes for sale in September 2024, a 0.7% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1611
-31.3%
2 6672
+9.1%
3 152157
+3.3%
4 5856
-3.4%
5+ 116115
-0.9%

Summary: The Worcester housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 3.4%, and 5+ bedroom homes decreased by 0.9%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
12499-20.2%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

59 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. 59.6% of homes here sold above asking price last month.

Summary: A total of 99 homes were sold or pending in Worcester in September 2024, down by 20.2% month-over-month. Of the 99 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% 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

Sep 2023Sep 2024CHANGE
24 Days31 Days+29.8%

Summary: Homes in Worcester had an average of 31 days on market in Sep 2024, up by 29.8% compared to last year.

Breakdown of Home Sale Times

68 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

6 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 September 2024, 99 homes were sold in Worcester; 69% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 6% 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 Sep 1, 2024

Newest Listings in Worcester, MA

Nearby Markets to Worcester, MA

What housing markets are near Worcester, MA?