Homes For Sale in Worcester Market Report

As we close out the year, let us look to Worcester, to see how the tea leaves read for 2014. Worcester drops to a new low in the number of homes for sale, and a new high in the HSI.

Can’t see the chart? You can find it Here .

Nothing too unusual there, but I do see some key things to think about:

1) Price pressures not as great in Worcester. Prices are up - but modestly.

2) Momentum slowing: Home Buyers are not hitting the gas here. Either there are fewer of them, or they are not looking aggressively right now.

3) Sales headed down: The number of sales is about the same as last December, but well short of the last couple of reports. This could be reflective of the lack of inventory, rising prices, waning demand, or some combination of all three.

 

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We see a rise in bank owned property - perhaps banks, seeing that now is time to get rid of there foreclosed properties, are moving more aggressively on this front. They are likely to be successful as well - with home inventories at a serious low, they will get plenty of attention.

 

 

Worcester Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Worcester‘s “Home Seller Index” (HSI): 118 Last Report: 117
  • There are 268 homes listed as For Sale in Worcester.
  • There have been 653 houses sold in the last 6 months, and 335 homes sold in the last 3 months.

    Home Sellers will be celebrating

    the new year across a backdrop of

    rising prices.
     
  • The Average number of Days on Market was 102 days for just SOLD homes.
  • There is an Average Market Time of 149 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $122 (vs. $118 )
  • There was an Average Sold Price of $190,720 for sold homes.
  • Worcester, MA, has 23 properties advertised as lender owned/foreclosure (typically foreclosure) .
  • Worcester has 27 properties advertised as a short-sale is going to be needed by lender.

 

 

 

*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary. (That means you won’t find it anywhere else. Take that, Case-Schilling!).

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About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

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*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.