Worcester Business Journal

18 Worcester Business Journal | June 26, 2023 | wbjournal.com F O C U S MIDYEAR ECONOMIC UPDATE networks and sales pipelines, can weath- er the slow times, she said. "I already have my battle scars," said Evans, who added agents have to get organic and not sit at home and wait for the phone to ring. It's important to be nosy and understand the clients and their needs. Going forward e group of real estate professionals WBJ spoke with, each with decades of experience, foresee the market returning to normal. Typically, the market heats up in April and continues through August, in time for the school year to start, said Steinfeld. Now, she is seeing mortgage applications increasing in June. "People are feeling more favorable toward home-buying," said Steinfeld. "Interest rates hit an all-time low, but not an all-time high." She recommends if people buy during a time when mortgage rates are higher, they make sure the mortgage doesn't Single-family home sales in Central Mass. cities YTD April 2022 YTD April 2023 Percent change Fitchburg sales 101 88 -12.90% Median price $290,000 $322,000 11% Framingham sales 131 78 -40.50% Median price $572,000 $598,500 4.60% Franklin sales 66 51 -22.70% Median price $531,900 $545,000 2.50% Gardner sales 52 40 -23.10% Median price $300,000 $311,000 3.70% Leominster sales 95 58 -38.90% Median price $379,900 $407,500 7.30% Marlborough sales 67 60 -10.40% Median price $495,000 $522,500 5.60% Southbridge sales 57 35 -38.60% Median price $310,000 $315,000 1.60% Worcester sales 343 230 -32.90% Median price $350,000 $367,000 4.90% Source: The Warren Group What do you expect will happen to housing prices for the remainder of 2023? Increase slightly Decrease slightly 2% 26% 27% 42% Increase significantly Decrease significantly Remain flat Continued from previous page

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