Central Massachusetts Real Estate Market Review


2019: Evolution & Growth in a Booming Market The Worcester Telegram recently summarized some of the biggest economic stories and happenings of 2019. This collection of stories portrayed the Central Massachusetts real estate market, namely Worcester, as thriving and still on the rise. The article highlights the sale and redevelopment of major [...]

Central Massachusetts Real Estate Market Review2020-01-02T18:47:27+00:00

Worcester Investors Seek Multi-Families


Worcester Multi-Family Properties In Demand The Worcester Business Journal recently put out an article that highlights the increasing Worcester investor demand for multi-families. The article states "the average monthly rent for an apartment in Worcester from January through October was $1,681, a 3.5% increase compared to the same period one year ago, [...]

Worcester Investors Seek Multi-Families2020-01-02T17:48:15+00:00

Worcester Property Values Rising


Worcester Property Values Continue to Rise The Worcester Telegram is reporting that "the total value of taxable property in the city jumped 8.26% this year, rising to a new high-water mark of $14.646 billion." In fact, both three-family homes and apartment buildings saw significant growth at 11.82% and 14.91%, respectively. This is [...]

Worcester Property Values Rising2020-01-02T17:44:23+00:00

Worcester Tax Relief Boosting Development


Worcester Tax Relief Increases Property Development & Investment The Worcester Telegram is reporting that "seventeen active tax-relief plans that were approved for commercial development projects in the city have generated about $16.5 million in total real estate taxes and triggered more than $306 million in total private investment". Furthermore, six relief plans [...]

Worcester Tax Relief Boosting Development2019-11-13T20:53:14+00:00

Worcester Housing Now Program


City Introduces Worcester Housing Now Program to Help Developers Banker & Tradesman is reporting that "the city of Worcester has launched a new program aimed at helping certain developers get streamlined access to capital to revitalize troubled small two- to four-unit properties throughout the city." This new program called "Worcester Housing Now" [...]

Worcester Housing Now Program2019-11-13T20:32:48+00:00

Average Worcester Rental Rates Increase


Worcester Sees Growth In Average Rental Rates The Worcester Business Journal is reporting that "in the last year, Worcester rents have increased by 6.1%, as of the third quarter, good for sixth place in small U.S. metro areas". Furthermore, that "Worcester’s average rent in the third quarter was $1,693 per month, with [...]

Average Worcester Rental Rates Increase2019-11-13T20:28:15+00:00

Worcester Condo Market News


Worcester Sees Growth In Condo Market A recent article from the Worcester Telegram & Gazette is indicating that the Worcester Condo market is trending upwards (at least compared to last year), per data from The Warren Group, which tracks residential real estate transactions in Massachusetts. When compared to condo sales from August [...]

Worcester Condo Market News2019-11-13T20:23:29+00:00

Worcester Encouraging Commercial Leasing


Worcester Initiates Vacant Storefront Leasing Program A recent article from the Worcester Business Journal about commercial leasing programs and economic impact is mentioning that Worcester is one of "eight communities across Massachusetts to make a new incentive program targeting empty storefronts." According to the article, Worcester will now be offering up to [...]

Worcester Encouraging Commercial Leasing2019-09-23T14:50:37+00:00

Worcester Economy Catching Up


Worcester Economy Catching Up A recent article from the Worcester Business Journal is highlighting the bounce back in the Greater Worcester Economy, stating that it "appears to finally be outperforming its national and New England peers in key areas." For example, "Per-capita income growth, too – a measure of how much wealth [...]

Worcester Economy Catching Up2019-08-28T17:10:58+00:00

Can Worcester Stay Unique Amidst Growth?


Worcester Development Going Into "Overdrive" WGBH brought up an an interesting topic this week with a recent article written by Aaron Schachter. Schachter highlights the issues that can sometimes arise with keeping a city unique when "development has gone into overdrive." Worcester certainly falls into this category, with rentals, development, and real [...]

Can Worcester Stay Unique Amidst Growth?2019-09-23T14:24:42+00:00