Central Mass. home prices and total sales climbed in 2024, as Worcester bucks statewide trend of declining condo sales
Photo | Courtesy of ERA Real Estate
A sign advertising a condo for sale in Worcester
The median price of a single-family home in Massachusetts hit an all-time high of $615,000 in 2024, a year which saw an increase in sales in Central Massachusetts when compared to 2023, as condominium sales fell to an 11-year low across the state.
Middlesex County saw 8,447 home sales in 2024 while Worcester County saw 6,142, increases of 5.5% and 1.1% respectively over 2023, according to data released Tuesday by The Warren Group, a Peabody-based real estate research firm.
"Massachusetts saw a total of 42,019 single-family home sales in 2024, marking a 2.9% increase from 2023,” Cassidy Norton, associate publisher and media relations director of the Warren Group, said in a Tuesday press release from the firm. “The year also set new records, with the year-end median home price reaching an all-time high of $615,000, up 7.9% year-over-year. December alone experienced a 16.1% surge in sales compared to December 2023, with 3,657 transactions and a median price of $600,000, another record for the month."
Worcester County had a median sales price of $460,000 in 2024, a 7.9% increase from the median price of $430,000 in 2023. Middlesex County had a median price of $812,000, an increase of 4.8% from $775,000.
In the city of Worcester, the median price rose 6.9% from $393,000 to $420,000, as the total amount of sales fell 2.2%, from 924 to 904.
Both the median price and the total amount of sales were on the rise in twin cities of Fitchburg and Leominster; Fitchburg saw a median price of $387,000, up 7.5% from $360,000, with 305 total transactions, up 6.3% from 287. Leominster’s median price in 2024 sat at $462,000, a 6.9% increase from $432,000, with 257 total sales compared to 255 last year.
Similar trends played out in prominent Middlesex County communities like Framingham and Natick, where the number of sales and median prices both increased in 2024. Framingham had a median price of $655,000, up 4.3% from $628,000, with a total of 428 sales, an increase of 14.7% from 373. Natick had a median sales price of $910,000, up 6.4% from $855,000, with 264 sales, up 11.4% from 237. Middlesex County includes MetroWest communities in Central Massachusetts, as well as some in Greater Boston, such as affluent Cambridge.
While condominiums can be a more affordable option for first-time homebuyers, condo sales in Massachusetts totalled 18,783, an 11-year low and down 2.2% from 2023.
"In 2024, there were 18,783 condominium sales, marking a 2.2% decrease from the previous year and the fewest annual condo sales since 2011,” Norton said. “As a result, the median sale price reached an all-time high of $535,000, up 4.9% from 2023."
Worcester County saw 1,602 total condo sales in 2024, down 2.9% from 1,650 in 2023. The median price was $364,950, a 4% increase. Middlesex County saw a 1.1% decrease in condo sales, dropping from 5,130 to 5,075, as the median price rose 3.3% to $635,000.
The city of Worcester bucked the statewide condo trend, seeing 294 sales, up 11.4% from 264. The median condo price rose 7.6%, from $264,750 to $285,000.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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