Analysis of Worcester Housing Market Statistics
Worcester has seen a big jump in inventory - about 20% - since the last report, and sales have really not kept pace. This is looking like there's going to be some more price declines in Worcester, unless the buyers start showing up a little more often, or the sellers start giving up. Buyers should find good selection, and there are lots of sellers who are looking for offers. Sellers! Know you local market, and position your home inside it! A bright spot, however, is the lender inventory. Although the numbers are the same, inventory is up, so the percent of lender inventory is down by about 20%. This could be a very good trend, if those numbers keep falling, and will lead to price stability quite quickly.
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Worcester Housing Market Statistics - Raw Data
- There are 679 homes (vs. 557 in the last Worcester Home Sales Report) listed as Active.
- There have been 449 houses (vs. 426) sold in the last 6 months, and 293 homes (vs. 228) sold in the last 3 months.
- There was an Average Market Time of 152 days for SOLD homes.
- There is an Average Market Time of 175 days for ACTIVE homes.
- There was an Average Sold Price of $173,248 for sold homes.
- Worcester has 41 properties (vs. 35) advertised as lender owned (typically foreclosure) .
- Worcester has 123 properties (vs. 123) advertised as short sales required by lender .
- Worcester “Hot Seller Index”: 69
*All statistics are for Single Family Homes.
Wondering about my Market Methodology? Read my Explanation for Massachusetts Home Data Reports.
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Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve his local community. *All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.
