Worcester County home prices increased 10.3% in January

Images | Courtesy of Google Maps Houses on West Boylston Street in Worcester

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By Katherine Hamilton

Following statewide trends, Worcester County single-family home prices continued to rise at a 10.3% clip in January, but the number of sales fell 7.1%, according to a Wednesday report from Peabody-based research firm The Warren Group.

In the city of Worcester, the number of home sales decreased to 81 from 88 in January 2021, marking an 8% decline. The median sale price increased 7.5% over the year to $342,000, up $2,000 from December.

Worcester County had 522 home sales in January, down from 562 in January 2021. The median sale price in the region was $375,000, a $10,000 increase from December and $35,000 higher than January 2021.

Franklin County’s home sale prices increased from $250,750 to $300,000 from January 2021 to January 2022 at a 19.6% increase, making it the county with the second highest year-to-date increase in average home prices after Berkshire County. In January, 42 homes sold in Franklin County, down from 48 the previous year.

Statewide, the median price of a home was $495,000 in January, marking the first time Massachusetts’ home prices dropped below $500,000 since March. The figure was still a 10.7% increase from January 2021, when it was $447,000.

Just over 3,500 homes sold in Massachusetts last month, an 8.9% decrease from the 3,853 sold in January 2021.

“While it’s true the number of single-family home sales dropped in January on a year-over-year basis, it’s important to look at the whole picture,” said Tim Warren, CEO of The Warren Group, in a statement.

January 2021 had the most single-family transactions since January 1999.