Report: Worcester bucks downward trend in home sales
A particularly cold and snowy winter caused home sales to drop in all New England states except Vermont, according to the RE/MAX of New England February Monthly Housing Report.
But Dan Breault, executive vice president and regional director of RE/MAX of New England, said in a report summary that decreased sales are an “expended trend” in the winter months, and that he reamins optimistic that the market will turn around in the spring.
“The good news is that month-over-month pending sales are up 26.4 percent. This is an encouraging sign and I anticipate March and April to be even stronger months as we turn the corner from winter to spring,” Breault said.
Median prices throughout New England rose 1.3 percent over 2013 despite fewer transactions, the report found. And Massachusetts posted a median price increase of 5.6 percent, while the number of units sold in the Bay State decreased 4.4 percent. The median selling price of a Massachusetts home in February was $285,000, up from $270,000 a year earlier.
Worcester was among major Massachusetts cities and towns the report highlighted as bucking the statewide downward trend in home sales, with the number of units sold in February increasing 10.5 percent, year over year. Prices increased 4.9 percent in Worcester, with the median price settling at $160,000, up from $152,000 in February 2013.
Of the New England states, Rhode Island saw the largest decrease in home sales in February, with the number of units sold down 7.9 percent. Meanwhile, the number of sales in Vermont increased by 18.2 percent in February.
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