Worcester single-family home price rises 16% to $338K in October
Photo | Courtesy of Realtor.com
Home sale prices in the MetroWest region continued to increase in June.
Single-family home sales were still on the rise in Worcester County during October, according to a monthly report from Peabody real estate data company The Warren Group.
The number of sales was up 12.5% compared to October 2019, with 962 sales recorded compared to 855 the year prior. The median sale price was up 15.9%, coming in at $338,375 compared to $292,000 during October of last year.
Year-to-date median sale prices in Worcester County were up 11.2%, coming in at $322,500 compared to $290,000 the year prior. The only metric remaining down was year-to-date number of sales, which is 1.8% lower than 2019, when 7,197 sales were recorded through October, compared to 7,068 recorded thus far into 2020.
“Despite higher COVID-19 infection rates, consumers across Massachusetts continued their real estate buying binge in October,” said Tim Warren, CEO of The Warren Group.
County single-family home sale trends for October were largely in line with the city of Worcester, where all metrics except for year-to-date sales continued to rise, according to The Warren Group.
The median sale price for such properties in Worcester proper was $307,000, up 15.9% from $264,900 during the same month last year. The number of sales spiked 20.7%, with 163 sales recorded in October 2020 compared to 135 recorded during October 2019, per the report.
Year-to-date median sale prices in Worcester proper were up 11.1% in October, coming in at $281,075 compared to $253,000.
Year-to-date number of sales were 5.4% lower in the city of Worcester than the year prior, with 1,030 city sales recorded so far this year, compared to 1,089 by this time last year.
Statewide, Massachusetts had 6,655 single-family home sales in October, a 27.1% increase from October 2019 with its 5,235 sales. The median single-family home price in the state increased 17% year-over-year to $455,000 – an all-time high for single-family homes in the month of October.
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