Worcester, MA - Local Housing Data - Summary

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Worcester, MA Local News

New Home Closings and Prices in Worcester Fall According to Newest Figures

Posted on: Aug 08, 2014 11:57:27 AM

Closings of new homes dropped year-over-year in April in the Worcester, MA market, and the decline was by a larger percentage than the March 2014. New home closings moved from 16 a year earlier to 1 after the figure moved from 11 in March 2013 to 4 in March 2014.

A total of 132 new homes were sold during the 12 months that ended in April, down from 147 for the year that ended in March.

On a percentage basis, new home closings as a part of total closings decreased to 0.1% from 1.9% a year earlier. For new and existing homes, closings sank in April after also declining in March year-over-year.

The average value of newly sold homes in April 2014 was $338,000, down from last year's $376,596. This was on the heels of a 6.5% rise in March year-over-year.

Other Market Trends

The share of new home closings made up by attached units has risen while the share belonging to single-family homes has fallen.

 
 
 

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