Leominster leads Central Mass. as home sales rise 64%

Courtesy of Bankrate.com

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By Thomas Grillo

Single-family home sales and prices rose by big numbers in October for Worcester, Framingham, Leominster, and Marlborough and bucked the statewide trend, according to the latest data from The Warren Group, the Peabody real estate market tracker.

While Massachusetts home sales increased by less than 1% and median single-family sales price rose 3.5% in October, those four Worcester and Middlesex county cities saw a double-digit rise in sales and prices.

Leominster was the sales leader as volume rose by 64% and the median price soared to $333,600, a 17% hike compared to October 2018.

In Marlborough, median prices rose by 41% to $492,500 in October, up from $349,900 one year ago while sales increased by nearly 22%.

“There’s been lots of activity on Marlborough’s east side, the city's most desirable section next door to Sudbury, and that’s driving prices,” said Judy Boyle, a broker at Re/Max Executive Realty in Marlborough. “Lots of homeowners who have lived in that section of the city for decades are selling. That’s created opportunities for first-time homebuyers who can’t afford Sudbury.”

While the median price of a single-family home slipped by 6% in Sudbury last month, at $745,000 it’s still among the most expensive communities in Central Massachusetts.

In Worcester, October sales increased by 24% and the median jumped to $264,900, a 14% rise over a year ago.

Framingham saw median prices rise to $475,000, up 21% increase over last year while sales were up by 18%.

In Milford, sales were flat while prices fell by 5% to $341,000. It was the same story in Sherborn where sales were unchanged from a year ago, but the median price was down 11% to $699,000.

Westborough also sales go unchanged, but the median rose to $560,000, a 33% hike over last year.

The Fitchburg median rose by 7% to $217,000 while sales fell by 25%.

Wayland was one of the few communities where sales rose by nearly 55%, but the median price dropped by 15% to $669,000.

Hopkinton was among several towns where prices and sales volume fell last month. Single-family home sales were off by 19% and the median price dipped to $550,000, a 15% drop.