Worcester home sales plateaued in August, as prices spiked 20% to record high
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A single-family home at 1 Sears Road in Southborough was sold for $2.7 million in July.
In a 20.3% increase from August 2020, the city of Worcester’s median sale price for a single-family home was $349,000 in August, which is also $9,000 greater than July’s price, according to a report from Peabody real estate data firm the Warren Group. The city’s price increase is almost twice the state’s rate.
The year-to-date sale price for the city increased by 21.5% from $275,000 to $334,000.
The number of sales in the city remained exactly the same as August 2020 at 125 sales. With 877 sales total this year, Worcester has seen a 21.3% increase year-to-date single-family home sales.
The median sale price for a single-family home in Worcester County also continued to rise, reaching $396,000 in August. That marks a 14.8% increase from August 2020’s sale price, and a $6,000 jump from July.
In an even greater spike, Worcester County’s year-to-date sale price grew 16.7%.
The number of sales in the county dropped 2.8% from last year to 897 in August, following July’s 3.8% drop. Year-to-date, there has still been a 6.5% increase in sales, now at 5,628 total in Worcester County.
Statewide, the median sale price in August was $535,000, an 11.5% increase from August last year, and a $5,000 decrease from the previous month. Year-to-date, Massachusetts has seen a 17.7% growth in median sale price, now at $512,000.
Massachusetts had a 6.2% decrease in the number of sales compared to August 2020, falling from 6,734 to 6,318 sales. Year-to-date, however, there’s been a 10.3% growth in the number of sales statewide.
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