May 23, 2018

Worcester County home prices rise to $264K

Photo | Zachary Comeau
Worcester County home sales have hit a median price above $250,000 in 2018.

The property value of homes in Worcester County and statewide continued their climb in April, with the median home price in the county rising more than 9 percent.

According to Boston real estate data firm The Warren Group, it's the 25th month a shrinking home inventory has pushed the state's home prices higher.

In Worcester County, the median price of a home sold last month was $264,275. For the year, the median price is $254,900. Both marks are at least 9 percent higher than April 2017 and all of last year, respectively.

The number of homes sold decreased by in April, and so far in 2018, the number of homes sold is behind 2017 by just one.

Statewide, sales are down 2.3 percent for the year, but ticked up 1.2 percent in April. The median price of a home sold in April was $375,000, and for the year, the median price is $356,827 - increases of 8.7 percent and 5.6 percent, respectively.

"There's no clear indicator that price gains will slow down, and with buyers prepping for peak buying season, they shouldn't expect any relief in the coming months," said Warren Group CEO Tim Warren.

The state's condo prices have risen by more than 12 percent in April and for the year, to $373,000 and $365,000, on par with single-family home sales.

In Worcester County, condos remain the cheaper option, coming in at a median price of $189,000 for the year.

Condo sales are outpacing home sales, increasing by 15.1 percent in the state and 26 percent for Worcester County.

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