Curious to know how the Leominster, Massachusetts, real estate market performed this year? In this 2022 Year in Review Housing Report, we compare data from Leominster 2021 to 2022 to see how the market performed in the area.
Home Sales Down 10.5% & Prices Up 12%
As of December 31, 2022, Leominster home sales decreased by 10.5%, as there were 606 sales in 2022 compared to 677 in 2021.
Average prices increased by 12%, going from $323,337 in 2021 to $362,284 in 2022.
These metrics include single families, condos, and multi-families. The categorical breakdowns are listed in the infographic above.
The number of listed homes decreased by 18.3%, moving from 666 in 2021 to 544 in 2022.
The number of pending sales decreased by 19.9% in Leominster, moving from 642 in 2021 to 514 in 2022.
As the Leominster real estate market wraps for 2022, we can expect a continued market adjustment heading into 2023. There will be an over-correction in the market as there is a lack of buyers due to increased mortgage rates as well as a lack of sellers willing to list because they do not want to lose their current low mortgage rate. Therefore, sales will be down compared to 2022. Prices are still increasing, but not as drastically as they have been. To get an even deeper look at what’s on the horizon for 2023, check out Anthony’s 2023 Predictions!
To learn more about Massachusetts performance, click here to read the 2022 Massachusetts Year in Review Report.
Data provided by Warren Group & MLSPin and compared to the prior year.