For the second month in a row, Worcester has been named one of the hottest markets in the United States.
Realtor.com’s analysis of how quickly homes sell and which city’s listings were viewed the most on its site helped them determine the hottest real estate markets for the month of April. Worcester ranked No. 12, with a median list price of $390,000.
A combination of low mortgage rates, rising prices and a large group of people at the typical homebuyer age has spurred real estate activity to new heights, according to the report, which also noted low inventory levels will continue to make it a seller’s market for some time to come.
Other Northeast cities have been at the top of Realtor.com’s rankings for a while. Manchester and Concord, N.H., took first and second place, respectively, for the second month in a row in April. Manchester was ranked No. 2 in April 2020, while Concord has seen its fortunes rise, climbing from 22nd place a year ago.
The median list price of a home in Concord in April was up 8.6% from last year, to $379,000, while the median list price of a Manchester home was $400,000.
“It’s pure madness,” said Joelle Sturm, Realtor with Better Homes & Gardens, Masiello Group, in Concord. “I’ve been doing real estate for 20 years in this area, and I’ve never seen a market like this.”
In a release, Sturm said listings are receiving multiple offers, and homes are selling for tens of thousands of dollars over asking price, as buyers from Massachusetts, Connecticut and New York flock to the area.
“They almost don’t care what the prices are,” she said. “I feel bad for our local buyers because first-time home buyers are priced out.”