Home Values

Worcester Metro Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$229,800

  • 3.9% 1-year change
  • 4.1% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this metro relative to other metros across the US. A particular metro may be identified as a good market for buyers in a national market favorable to sellers overall. Learn more

Cold

Buyers' Market
Sellers' Market

The median home value in Worcester Metro is $229,800. Worcester Metro home values have gone up 3.9% over the past year and Zillow predicts they will rise 4.1% within the next year. The median list price per square foot in Worcester Metro is $150, which is lower than the Massachusetts average of $204. The median price of homes currently listed in Worcester Metro is $249,900 while the median price of homes that sold is $206,100. The median rent price in Worcester Metro is $1,100, which is lower than the Massachusetts median of $2,100.

Foreclosures will be a factor impacting home values in the next several years. In Worcester Metro 1.4 homes are foreclosed (per 10,000). This is greater than the Massachusetts value of 0.6 and also lower than the national value of 4.0

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Worcester Metro is 8.7%, which is higher than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Worcester Metro homeowners underwater on their mortgage is 17.4%, which is higher than Massachusetts at 11.2%.

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Relative ZHVI
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Worcester Metro Market Overview

Data through Dec 31, 2014
  • $229,800 ZHVI
  • 4.1% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Dec 31, 2015)
  • $249,900 Median listing price
  • $206,100 Median sale price
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Worcester Metro Market Health

Data through Dec 31, 2014
  • 3.8/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • 98 Average days on Zillow (Nov 30, 2014)
  • 17.4% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 8.7% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

1.4 homes Worcester Metro
0.6 homes Massachusetts
4 homes United States
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Cities in Worcester Metro

Name Median ZHVI
Westborough $406,000
Shrewsbury $338,900
Town of Milford $260,100
Name Median ZHVI
Town of Webster $205,400
Leominster $202,200
Worcester $184,400
Name Median ZHVI
Town of Southbridge $159,800
Fitchburg $158,500
Gardner $156,800

Listings & Sales

Data through Dec 31, 2014
  • $150 Median list price / sq ft
  • $140 Median sale price / sq ft
  • 21.8% Listings with price cut
23.7%
Sold below listing
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Worcester Metro Rentals

Data through Dec 31, 2014
  • Zillow Rent Index

  • $1,479 Worcester Metro
    $1,952 Massachusetts
    $1,345 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • $1,100 Rent list price
  • $1.06 Rent list price / sq ft
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