Worcester MA market report: single family homes July-Sept 2008, Q3 2008

Worcester Centrum

Worcester MA real estate report: third quarter 2008
Single family homes
Average sale price in Worcester, July-September 2008: $206,760
Average days on the market July-September 2008: 144.30 days
Number of properties sold July-September 2008: 245
Number of properties under agreement July-September 2008: 110

Statistics from third quarter 2007:
Average sale price in Worcester, July-September 2007: $264,819
Average days on the market July-September 2007: 122.96 days
Number of properties sold July-September 2007: 261
Number of properties under agreement July-September 2007: 2

You can see prices have declined by 22% since the third quarter last year. However, there is a tremendous increase in the number of properties under agreement to sell as compared to last year. Buyers are taking advantage of the lower housing prices and they are closing slightly quicker than buyers in Q3 2007.

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