Worcester County home prices down 7% since June

Photo | Zachary Comeau Worcester County home sales hit a median price of $285,000 in August.

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The median price of a home sold in Worcester County rose slightly in August after prices dropped off significantly in July.

In August, the median sale price in Worcester County was $285,000, up from $280,000 in July, according to the Boston real estate data firm The Warren Group.

However, both of those numbers were a significant drop from the $307,000 median home price in June, the Warren Group said in its monthly real estate report released Wednesday.

For the year, Worcester County home prices have increased by 6.6 percent from $258,000 in 2017 to $275,000 so far in 2018. August’s median home prices were also 1.8 percent higher than August 2017.

Warren Group CEO Tim Warren said prices are typically at their highest in the summer months, so prices should continue to drop, but will remain higher than they were last year.

“The median single-family sale price has increased on a year-over-year basis every month so far this year, which is a clear indicator that the shrinking inventory is continuing to push prices higher,” he said.

Statewide, the median price of homes sold were $402,000, the third straight month of prices being above the $400,000 threshold.

That statewide price is down from $420,000 in June and $407,000 in July, but they were 5.8-percent higher compared to August 2017.