Is North 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, North Worcester has remained a Seller's Market.
Key Takeaway
North Worcester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in North Worcester, MA
How much do homes in North Worcester, MA cost?
Median Sold Price
$425,000
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Worcester have sold for 6.3% more than they did a year ago.
Summary: The median home sold price in North Worcester was $425,000 in May 2024, up 6.3% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $218K | $225K | +3.2% |
| 2 Bedrooms | $316.9K | $367.5K | +16.0% |
| 3 Bedrooms | $400K | $425K | +6.3% |
| 4 Bedrooms | $425K | $470K | +10.6% |
| 5+ Bedrooms | $549.9K | $600K | +9.1% |
Summary: North Worcester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Indian Lake East | $360K | $388.5K | +7.9% |
| North Worcester | $400K | $425K | +6.3% |
| Greendale | $402.5K | $425K | +5.6% |
| Burncoat | $395K | $410K | +3.8% |
Housing Supply in North Worcester, MA
How many homes are available in North Worcester, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 57 | 65 | +14.0% |
Summary: The North Worcester real estate market had 65 homes for sale in May 2024, a 14.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 19 | 25 | +31.6% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The North Worcester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 22 | +69.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Worcester, you could pay more than the asking price. 68.2% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in North Worcester in May 2024, up by 69.2% month-over-month. Of the 22 sold homes, 14% were sold under asking, 18% were sold at asking, and 68% were sold over asking.
Days on Market for North Worcester, MA
How long does it take to sell a home in North Worcester, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 21 Days | +3.4% |
Summary: Homes in North Worcester had an average of 21 days on market in May 2024, up by 3.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Worcester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in North Worcester; 82% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
