---

 

Select Zip Codes 

Median Sale Price | 1Yr – Chg

01532 – Northborough                    $372,500                   + 5.1%

01581 – Westborough                      $440,000                  + 5.6%

01545 – Shrewsbury                        $417,450                     + 6.1%

01501 – Auburn                                $245,000                   + 2.9%

01520 – Holden                                $325,000                   + 11.1%

01536 – North Grafton                   $328,450                   + 21.6%

01519 – Grafton                                $359,900                   – 2.7%

01527 – Millbury                              $312,000                    + 21.9%

01602 – Worc (Tatnuck)                $197,700                      – 1.8%

01603 – Worc (Webster Sq)          $172,500                     + 7.8%

01604 – East Worcester                 $205,000                    + 7.9%

01606 – Worc (Bruncoat)              $223,750                     + 7.7%

 

Significant decreases in the number of homes for sale in the area have led to a substantial rise in home prices over the last year continuing the trend from 2015.   Historically low interest rates have also helped contribute to the strong demand for housing as obtaining a mortgage has never been more affordable.   Although mortgage rates make loans affordable, many home buyers are facing strong competition from other buyers and may be experiencing some difficulty finding homes in the areas or towns they are searching in.  As of this posting, housing inventory remains low in many communities which means we expect this upward trend in home prices to continue until either the housing inventory increases or we see significant rise in interest rates.