Is Worcester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$420,000
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Worcester have sold for 6.4% more than they did a year ago.
Summary: The median home sold price in Worcester was $420,000 in March 2024, up 6.4% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $201.2K | +8.8% |
| 2 Bedrooms | $282.3K | $315K | +11.6% |
| 3 Bedrooms | $380.6K | $409.9K | +7.7% |
| 4 Bedrooms | $430K | $460K | +7.0% |
| 5+ Bedrooms | $560K | $625K | +11.6% |
Summary: Worcester housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 11.6%.
Median Sold Price Compared To Nearby Cities
| Millbury | $429K | $475K | +10.7% |
| Shrewsbury | $550K | $590K | +7.3% |
| Worcester | $394.7K | $420K | +6.4% |
| Auburn | $415K | $428.2K | +3.2% |
Housing Supply in Worcester, MA
How many homes are available in Worcester, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 274 | 307 | +12.0% |
Summary: The Worcester real estate market had 307 homes for sale in March 2024, a 12.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 9 | +50.0% |
| 2 Bedrooms | 72 | 76 | +5.6% |
| 3 Bedrooms | 87 | 94 | +8.0% |
| 4 Bedrooms | 46 | 47 | +2.2% |
| 5+ Bedrooms | 63 | 81 | +28.6% |
Summary: The Worcester housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 82 | 92 | +12.2% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
61 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Worcester, you could pay more than the asking price. 66.3% of homes here sold above asking price last month.
Summary: A total of 92 homes were sold or pending in Worcester in March 2024, up by 12.2% month-over-month. Of the 92 sold homes, 22% were sold under asking, 12% were sold at asking, and 66% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 37 Days | 29 Days | -21.5% |
Summary: Homes in Worcester had an average of 29 days on market in Mar 2024, down by 21.5% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
5 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 March 2024, 92 homes were sold in Worcester; 72% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
