Two Massachusetts metropolitan areas ranked among Realtor.com’s top 20 hottest housing markets for May, except for Boston, which did not make the list.
Properties in the Springfield (No. 3) and Worcester (No. 7) metropolitan areas saw three times the number of views per property than the national average and sold more than three weeks faster than the national average of 44 days.
This is a record high not seen in the history of the data, which dates back to mid-2017, according to Realtor.com.
A December forecast named both cities among the top 10 housing markets for 2024.
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According to the report, homes in Springfield stayed on the market for an average of 17 days in May with an average sales price of $400,000. Homes in Worcester stayed on the market for an average of 19 days with an average sales price of $545,000.
“This suggests that while housing conditions remain tough, this month’s hottest markets are seeing significantly higher demand than the average for homes nationwide,” said Hannah Jones, economic analyst at Realtor.com.
The report describes Springfield as “highly desirable due to relatively affordable home prices around $400,000 and a low unemployment rate.”
Of the top 20 housing markets in the U.S., nine were in New England (Massachusetts, Connecticut, and New Hampshire), and the rest were all in the Midwest.
The national median home price in May was $442,500.Meanwhile, in Massachusetts, the most competitive housing market in the country, the median price for a single-family home was $636,000 in May and the median price for a condo was $550,000, according to the Warren Group, a leading source of real estate data.
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The average sales price of a single-family home in the Bay State rose about 8 percent from a year ago in May, hitting an “all-time high of $636,000,” said Cassidy Norton, associate publisher and media relations director for the Warren Group.
“Usually, increased sales numbers keep prices down, but pent-up demand from homebuyers is redefining market trends,” she said.
Last month, Dan Meservey, a real estate agent with Matthew Newton Sotheby’s International Realty in Westborough, told MassLive that pent-up demand from buyers was “eating away” inventory within days of it hitting the market.
