Worcester County home sales down 35% while price hikes slow
Photo | Kevin Koczwara
Worcester County single-family home sales are down sharply.
The number of Worcester County home sales saw a 35% decline year-over-year in November while there was a 30% decline in the number of sales statewide, as Massachusetts prices hit their lowest level of increase in two years.
Median home prices across the county were up 1.3% year-over-year in November to $385,000, compared with a 3.9% increase statewide, according to Peabody research firm, The Warren Group.
“The 3.9-percent increase we saw in November was the smallest percent increase on a year-over-year basis since June 2020,” said Warren Group CEO Timothy Warren.
Since May, Worcester County has seen year-over-year increases each month of more than 7%, including in October when the median price was up 9%. The much smaller increase in November reflects the statewide trend.
“A tightening inventory, higher interest rates, and economic uncertainties have had a big impact on consumer confidence, and real estate activity has taken a hit in recent months. The more important development is the slowdown in median price hikes,” said Warren.
Around the county, Auburn, Charlton, Clinton, Grafton, Milford, Northbridge, and Uxbridge all saw double-digit median-price increases in November.
Fitchburg, Leominster, Franklin, Shrewsbury, Sturbridge, and Webster saw prices decrease year-over-year in November.
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