Worcester County single-family home median price nears $440K, as trends continue
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Homes in Worcester
The new year has yet to bring any relief to prospective Central Massachusetts homeowners, as home prices continue to climb to record-breaking levels.
The price for a single-family home in the state reached a new all-time high for the month of January, rising 6.4% on a year-over-year basis to $585,000, according to data released Tuesday by The Warren Group, a Peabody-based real estate research firm.
The median sales price in January for Worcester County home sales increased 3.5% from January 2024 to $439,900, while the median price in Middlesex County jumped 16.2% to $813,500. Sales climbed from 355 to 381 in Worcester County and 449 to 462 in Middlesex County, increases of 7.3% and 2.9% respectively.
"Massachusetts saw a total of 2,626 single-family home sales in the first month of the year, marking a 9.3% increase from 2024,” Cassidy Norton, associate publisher and media relations director of the Warren Group, said in a Tuesday press release from the firm.
The city of Worcester saw 66 sales compared to 55 last January, with a median price of $429,500, a 10.1% year-over-year increase.
The twin cities of Fitchburg and Leominster also saw increasing prices, with Fitchburg’s median price climbing 14.6% to $390,000 and Leominster’s increasing 2.8% to $442,000. Fitchburg saw 18 sales compared to 14, while Leominster sales stayed flat at 16.
Sales totals declined in the prominent Middlesex County communities of Framingham and Natick, as Framingham saw 28 sales compared to 29 and Natick saw 17 sales compared to 22. Framingham’s median price rose 13.7% to $699,000 and Natick’s jumped 19.5% to $1.03 million. Natick’s price jump was fueled by 11 sales in the range of $1 million to $1.82 million, according to Middlesex South Registry of Deeds records.
There’s some indication the state’s condominium market is improving after a 11-year low in sales in 2024; Massachusetts saw 810 condo sales in January, up 20.9% from the 670 seen last year.
Worcester County saw 104 condo sales, up 8.3% from January 2024, with an average median price of $370,000, a 14% increase. Middlesex County saw 330 sales, up 34.1%, while the median price reached $649,950, up 1.1%.
“The increase in [statewide condo] sales figures may indicate a rise in inventory as we head into the 2025 spring market, a welcome respite from several years of record lows,” Norton said.
The city of Worcester actually saw a decline in condo sales, with 14 sales compared to 24 last January. The median condo sales price in the city increased 24.4% to $312,450.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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