Worcester Business Journal

8 Worcester Business Journal | August 20, 2018 | wbjournal.com BY ZACHARY COMEAU Worcester Business Journal Staff Writer Member FDIC | Member DIF APY rates guaranteed through 1/31/19. All accounts will be converted to a Money Market Account on 2/1/19. A minimum deposit of $10,000 in new money is required to open this account. Rate may change after the account is opened. Fees could reduce earnings on the account. Only one account per social security number or EIN number. Daily Balances Of: $0.01 – 9,999.99 $10,000 – 49,999.99 $50,000 – 4,999,999.99 $5,000,000+ *Annual Percentage Yield 0.10% APY 1.75% APY 2.00% APY 1.75% APY Interest Rate 0.10% 1.74% 1.98% 1.74% BEST RATES AROUND. *$50,000 MIN BALANCE TO EARN THE APY 2.00% APY * Open an account now at countrybank.com/earn-up-money-market Paying more for LUXURY B uyer demand for affordably priced homes is high both statewide and in Worces- ter County, with a lagging inventory struggling to keep up and pushing the state's median home price well above $400,000 for the first time in history. In Worcester County, the median price of a home in June was $307,000. at's a 10.9-percent increase from June 2017. But that's nothing compared to the most luxurious homes in Worcester County, the sales of which have in- creased by 50 percent in June year over year, according to New Jersey-based Coldwell Banker Residential Brokerage, which has offices nationwide, including Worcester. "I've seen more high-priced sales late- ly than I've seen in my 33-year career," said Lee Joseph, a Worcester real estate agent with Coldwell Banker. Even as rising real estate prices are pushing more homes into the realm of luxury pricing – typically $600,000 or more – the surging economy is creating more wealth in Massachusetts and would-be buyers are eschewing the highest-priced markets like Greater Boston in favor of places like Worces- ter County where their top dollar goes further. "People are feeling a little more com- fortable about pursuing their dream home than they were in the past," said Cheryl Eidinger-Taylor, president and chief operating officer of Whitins- ville-based ERA Key Realty Services. More luxury sales People benefitting from the good economy and playing the stock market are taking advantage of the relatively good economic times and shiing those assets to real estate to help fund their ideal home, said Eric Berman, commu- nications director for the Massachusetts Association of Realtors. Eidinger-Taylor said she has noticed more homes in the top 20 percent of price ranges being grabbed early and oen. In most Central Mass. communities, that price range typically means a home valued around $500,000 or $600,000, Eidinger-Taylor said. According to real estate website Zillow, the number of homes sold for at PHOTOS/EDD COTE This six-bed, eight-bathroom home in Paxton is listed for sale at $1.4 million. More high-end homes are being sold in Central Massachusetts

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