Prediction: The City of Worcester will be, undeniably, one of the top 5 best places to live in Massachusetts by 2025.
For all of us who have been cognisant the market heat-up over the last couple years the news that broke this week from Realtor.com, a subsidiary of MOVE, Inc. which is an arm of the National Association of Realtors, and a reliable source for housing trends is likely no surprise. Worcester, ladies and gentlemen, is one of the hottest and most competitive markets nationwide.
Now this should come as no surprise, as Boston continues to push west. My 5th grade geography lessons tell me that Boston can’t go east, as there’s an ocean there. Consequently lots of that sweet tasty money is heading to Worcester, where lo’ and behold, we are actually prepared for it!
To support this hypothesis, consider 1) the development of City-Square and the revitalization of our “urban millscape” into swank housing
2) the rising values in the West Side and Burncoat which aesthetically double for Newton & Brookline 3) redevelopment of former ‘brownfield’ type spaces into distinctive shopping and/or dining 4) the exciting development of the once desperate eye-sore that was Kelley Square into the Canal District which continues to impress 5) further infrastructure development smart-routed eco-friendly city buses, Union Station train service, and our airport. Oh and the schools… long beleaguered by image and comparisons to towns (apples to oranges, city to town) our schools continue to grow stronger. In her 13 years as a student and 14 years as a teacher, Dr. Kerry Mulcahy, an exemplary educator, has been consistently impressed by the quality of teachers in our district; “they are passionate about their curriculum and genuinely care about their students.”
I cannot disagree. The redevelopment of the physical plant – the buildings and grounds of our schools, the attraction of top-talent educators who want to live and educate in a cosmopolitan thriving city, the additional tax-base dollars added by our growth, and beautiful yet affordable housing will continue to push that trend forward.
A TWiW contributor just voted most popular school committee member in the Worcester Magazine’s perennial Best of list, Molly McCullough, shared this with me in one of our chats: “One of the many topics that I have discussed with Worcester residents is the importance of the success of our schools for our entire City. Many people think that if they don’t have kids in the school system that what is happening in our schools doesn’t impact them. There is a misconception that we don’t have great schools in the City. We have amazing schools and programs that are unfolding daily throughout the system. We need to be sure that we are getting the info on all of the great opportunities in WPS out there to to the public so that people who are looking to buy a home see Worcester as top choice for a place to raise a family. We also need to be sure we are continuing to support our schools as a community so that we make our schools even stronger.” Bingo! I believe that the continued development of the city’s schools, infrastructure, urban renewal and existing back-bone of great big beautiful neighborhoods will push our city further than many residents imagined possible.
What does all this mean vis-à-vis Real Estate? The proof is in the numbers. Our market is getting incredibly competitive due to lower than usual existing housing stock for sale, and the continued desirability of Worcester. Realtor.com cites the following data-points:
- Median Worcester home list price: $286,400
- Share of Worcester homes selling above list price: 41.5%
- Increase in the share of Worcester homes selling over list price: 88.1%
So, what is the take-away from this? Get in Now! Moving to the City of Worcester now or in the near future, while values are low relative to MetroWest and Boston will, in my opinion, be a very smart decision both financially and for a great lifestyle.
Here are five great examples of Single Family Homes for sale in the City of Worcester between $300,000 and $400,000 and they are sure to go fast, as this is a sweet-spot price bracket for Worcester and only 48 examples currently on market. In this competitive market, please make sure to consult with your Realtor® and learn how to bring a tank to the knife fight.
58 Howland Terrace, 01602
Listed by Maria Navedo, Keller Williams North Central
4 Beds, 1 full 1 half bath, 2,288 square feet, built 1918
3 South Lenox Street
Listed by Gary Caggiano, ERA Key Realty Services Worcester
3 Beds, 1 full 1 half bath, 1667 square feet, built 1999
436 Massasoit Road, 01604
Listed by Christine Lawrence, ERA Key Realty Services Milford
3 beds, 1 full 1 half bath, 1741 square feet, built 1925
37 Buckley Road, 01602
Listed by Gillian Bonazoli, Coldwell Banker Residential Brokerage Worcester
4 beds, 2 full 1 half bath, 2,424 square feet, built 1940