Is East Worcester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, East Worcester has remained a Seller's Market.
Key Takeaway
East Worcester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in East Worcester, MA
How much do homes in East Worcester, MA cost?
Median Sold Price
$425,000
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Worcester have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in East Worcester was $425,000 in May 2024, up 9.3% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190K | $61K | -67.9% |
| 2 Bedrooms | $279K | $309K | +10.8% |
| 3 Bedrooms | $370K | $401K | +8.4% |
| 4 Bedrooms | $375K | $449K | +19.7% |
| 5+ Bedrooms | $550K | $632K | +14.9% |
Summary: East Worcester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 67.9%, 2 bedroom homes increased by 10.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 14.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Hamilton | $375K | $487.5K | +30.0% |
| East Worcester | $388.6K | $425K | +9.3% |
| Grafton Hill | $382.5K | $405K | +5.9% |
Housing Supply in East Worcester, MA
How many homes are available in East Worcester, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 108 | +11.3% |
Summary: The East Worcester real estate market had 108 homes for sale in May 2024, a 11.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 25 | 32 | +28.0% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 33 | 35 | +6.1% |
Summary: The East Worcester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 28%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 6.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 26 | +30.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Worcester, you could pay more than the asking price. 53.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in East Worcester in May 2024, up by 30.0% month-over-month. Of the 26 sold homes, 35% were sold under asking, 12% were sold at asking, and 54% were sold over asking.
Days on Market for East Worcester, MA
How long does it take to sell a home in East Worcester, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 16 Days | -35.0% |
Summary: Homes in East Worcester had an average of 16 days on market in May 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in East Worcester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in East Worcester; 88% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
