Median single-family home price in Worcester County nears $500K
Image | Courtesy of Google Maps
Single-family homes in the Greendale neighborhood of Worcester
While the median price of a single-family home in Central Massachusetts dropped in August after the traditional peak of the homesale season in mid-summer, the month saw higher prices and fewer sales than August 2024.
Worcester County saw a median price of $490,000 across 639 transactions in August, compared to a median price of $479,000 across 655 sales in August last year. A similar trend played out in Middlesex County, which saw a median price of $875,000 across 844 sales, compared to a median of $815,500 across 912 transactions, according to data released Tuesday by The Warren Group, a Peabody-based real estate research firm.
These trends played out statewide as well, as the median price in August sat at $658,200 across 4,422 transactions, compared to $631,500 across 4,519 sales.
“Following the usual pattern, the median sale price in August was up versus 2024 but down versus July,” Cassidy Norton, associate publisher and media relations director of The Warren Group, said in a Tuesday press release accompanying the data. “Buyers who are looking now are likely to see lower prices and reductions from earlier in the year. Interest rates are down at the moment, which may help some buyers and sellers decide to enter the market.”
The city of Worcester was the site of 77 single-family transactions in August, down from 87 seen in August 2024. The median price was $435,000, a 3.6% increase from $420,000 in August last year.
Fitchburg saw 33 transactions compared to 32, with a median price of $422,500, a 11.2% increase. The neighboring city of Leominster saw 28 sales compared to 26, with its median price increasing 6.6%, from $475,000 to $506,500.
In MetroWest, Natick saw 36 sales, the same amount as last August, as the median price climbed 6.1%, from $905,000 to $960,000. Framingham saw 50 sales compared to 55, with a median price increase of 8.5%, from $650,000 to 705,550.
Despite the dip in sales, the state is on track to see more single-family transactions this year, with 28,210 sales so far, a 2.7% increase over the 27,471 seen in 2024 through August. Median prices are also up, with the year-to-date median being $658,200, a 4.2% increase over $631,500.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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