Central Mass. home sales jump for second consecutive month
Images | Courtesy of Google Maps
Houses on West Boylston Street in Worcester
As a heat wave begins to bear down on Central Massachusetts, data from May shows the region’s real estate market is also heating up; for the second straight month, both Worcester and Middlesex counties saw an increase in total home sales compared to May of last year.
Worcester County saw 562 sales in May, a 14.7% increase over the 490 sales seen in May 2023, while Middlesex County saw 823 sales, a 11.1% increase over the 741 sales seen in May 2023, according to data released Tuesday by The Warren Group, a Peabody-based real estate research firm.
While sales continue to climb, the median sales price of homes continues to rise. Worcester County’s median sale price was $455,000, a 4.6% over the median price of $435,000 witnessed in May 2023. Middlesex County’s median sales price was $867,500, a 2.1% increase over the May 2023 median of $850,000.
Across Massachusetts, 3,887 single-family homes were sold in May, a 7.5% increase over last year, with the median price coming in at $636,000, an all-time high for the month of May and a 7.9% increase from last year.
"Massachusetts single-family home sales surged by 7.5% year over year in May, marking the second consecutive month of increases,” Cassidy Norton, associate publisher and media relations director of The Warren Group, said in a Tuesday press release accompanying the group’s data release. “Remarkably, during the same period, the median sale price climbed almost 8% to reach an all-time high of $636,000. Typically, increased sales would temper price growth, but the pent-up demand from homebuyers is redefining market dynamics."
Single-family home prices in the city of Worcester continue to climb, as the median sales price climbed to $406,000, an 11.2% increase from the price of $365,000 seen in May 2023. Bucking the statewide trend, Worcester saw a slight decrease in sales, as May saw 71 home sales compared to 75 in May 2023.
Leominster saw a 53.3% increase in home sales, with 23 sales compared to 15 in May 2023. The median price in the city decreased slightly, dropping from $450,000 in May 2023 to $445,000.
Fitchburg saw a similar trend of increased sales and slightly declining prices; Fitchburg had 36 sales compared to 32 last May, with the median price declining from $363,000 to $357,500.
Framingham and Natick, two prominent MetroWest communities, both witnessed an increase in total sales and median prices. Framingham had 43 sales compared to 31, while Natick saw 37 sales compared to 32. The median price climbed 1.4% in Framingham, from $651,000 to $660,000, while the median price in Natick rose 5%, from $867,000 to $910,000.
So far in 2024, there have been 14,005 home sales in Massachusetts, a 2.1% increase from the first five months of 2023.
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