Worcester home prices rise 23% to $318K median
Photo | Grant Welker
A home for sale in Worcester
Single-family home sales in both the City of Worcester and Worcester County continued to climb in January, the latest in a multi-month pandemic bounce back.
There were 87 single-family home sales in the City of Worcester in January, 24.3% more than a year prior, when 13 sales were recorded, according to Peabody real estate data firm The Warren Group. The median sale price was similarly up, coming in at $318,000 in January compared to $258,750 a year earlier. That’s an increase of 22.9%
Across Worcester County, single-family home sales were up 10.3%, with 558 sales recorded compared to 506 during January last year, per The Warren Group. Median sale prices, in turn, were up 18.9%, coming in at $338,950 compared to $285,000 a year earlier.
“The red-hot housing market showed no signs of cooling in January,” said Tim Warren, CEO of The Warren Group, in a press release. “Momentum from the fourth quarter of 2020 clearly carried over into the new year. In fact, $445,000 (statewide median) marked the first time the median single-family sale price ever exceeded the $400,000 mark in January.”
Warren said he expected records to continue to be broken in the coming months.
Local trends were largely on par with trends statewide, with 3,824 single-family home sales recorded across the commonwealth, an 8.7% increase from a year earlier, when there were 3,518.
The median single-family sale prices, in turn, increased 12.7% year-to-year, coming in at $445,000 last month compared to $398,700 a year earlier.
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