Shrewsbury MA Real Estate Market Update December 2018

Real Estate Market Update for Shrewsbury Massachusetts | December 2018

Hi again! I’m Maribeth Lynch from Thrive Real Estate Specialists, with your Shrewsbury market report through the end of December 2018.

We are experiencing a market shift that is undeniable. We have moved from a strong sellers market to a more balanced market favoring buyers. The combination of rising interest rates and higher home prices have worked towards a softening in the market. However, Shrewsbury continues to outperform most other comparable towns both in total units sold and pricing.

Shrewsbury’s market volume in 2018 was slightly behind that of 2017, although prices were up by 5% in 2018

Unit sales were up slightly in December but off 30% from last December.

We also saw a sharp fall off in the list price/sale price ratio which dropped to 94%. It was previously holding steady at 98 to 100%.
These two factors confirm the weakening market that we have been feeling.

Despite these downward trends, our days on market are still low, with an average of 50 days on market in December.

Our inventory of homes tells a similar story-with 82 units on market at the end of 2018—this is up 40% more than the previous two years. If you are a Buyer, this data present a clear message that 2019 will be a great year for you to buy.

Looking at the high and low of the Shrewsbury market in December, a condo sold for $133,000, and a beautiful home sold for $2,750,000!

If you are a buyer—NOW is the time to get serious about your search. If you are a seller, the condition, location and price point of your home will be the factors most impacting the bottom line.

We love working with buyers as well as representing sellers in Shrewsbury—if 2019 is YOUR year to buy or sell, give us a call!

That’s your Thrive Real Estate Market Report for Shrewsbury through December, 2018. Here’s to a great 2019 for all!

 

Recent Market Updates

 

November 2018 Real Estate Market Update for Shrewsbury MA

October 2018 Real Estate Market Update for Shrewsbury MA

September 2018 Real Estate Market Update for Shrewsbury MA

August 2018 Real Estate Market Update for Shrewsbury MA

July 2018 Real Estate Market Update for Shrewsbury MA

Shrewsbury Real Estate Market Update- October 2018

Market Update for Real Estate in Shrewsbury Massachusetts | October 2018

Hi, I’m Maribeth Lynch from Thrive Real Estate Specialists, with your Shrewsbury market report through the end of October 2018.

The Shrewsbury market is strong and it is a good time for buyers.
Year to date, the total market volume is up 4% over the prior year. This is a result of a 7% year on year increase in average prices.

October was a great month for days on market for sold home at 37 days which was an improvement over September (48), and much better than a year ago at the same time (66).

October average prices were 23% higher than last October. On the other hand, the number of units sold in October was down 20% from last month and 40% from a year ago. This could mean the market is shifting to a buyers’ market. We will continue to monitor this trend.

What about inventory? For the second month in a row, we see an increase in inventory. At the start of November, there were 130 units available in Shrewsbury – more than last month (114 units) and much more than a year ago (92 units). This increasing inventory trend is good news for potential buyers.

How long have these unsold properties been on the market? As it has been through most of this year, the days on market have been running lower than the prior year. November 1 was 67 days on market vs. 85 days one year ago.
So surprisingly, we are still seeing short cycles which is good news for sellers; and more inventory which is good news for buyers. The increase in inventory combined with the falloff in units sold, could signal a weakening of some of the price strength we have seen this year.

As we’ve mentioned previously, homes in Shrewsbury sell over a wide price range. At the low end, we saw a residence sell for $130k in September; and at the high end, a home sold for $1,500,000. So hopefully most of you will be able to find homes in your price range!

In summary,
Shrewsbury continues to have a nice real estate market.
Inventory is high enough to offer a great selection, and desirable homes are still moving fast. So it is a great time to buy a home in Shrewsbury, if you can keep up with the pace of the market.

The coolness of fall appears to be arriving, and the leaves are in full color. Fall in New England, it doesn’t get any better than that! Come look at some homes before winter arrives.

That’s your Thrive Real Estate Market Report for Shrewsbury through October, 2018.

Recent Market Updates

September 2018 Real Estate Market Update for Shrewsbury MA

August 2018 Real Estate Market Update for Shrewsbury MA

July 2018 Real Estate Market Update for Shrewsbury MA

Shrewsbury Real Estate Market Update September 2018

Real Estate Market Update for Shrewsbury Massachusetts | September 2018

Hi, I’m Maribeth Lynch from Thrive Real Estate Specialists, and this is your Shrewsbury market report through the end of September 2018.

As mentioned in prior reports, the Shrewsbury real estate market is strong!

Year to date, the total market volume is up 9% over the prior year. This is made up of home prices up 5.4% and unit volume up 3%.

We’ve seen an uptick in days on market for sold homes to 48 compared to only 36 last month. But not that much different from 46 last September.

There has been an increase in inventory. As of October 1 there were 114 units available in Shrewsbury which is more than last month’s 98 units. This is also a jump over last year at the same time which was 95 units. We’ll keep an eye on this increase, because up until this month, inventory had been mapping to the prior years cycle.

We already discussed days on market for houses that sold, but let’s take a look at days on market for properties that are still on the market. As it has been through most of this year, the days on market have been running much lower than the prior year. October 1 was 61 days on market vs. 75 last month and 105 one year ago.
As you would expect, many lower priced homes have not been on the market as long as the average, while homes above $700,000 have more than average days on market. And some higher price ranges (above $800k) are even showing less days on market than in the prior year.
So surprisingly, we are seeing shorter cycles which is good news for sellers, and more inventory which is good news for buyers. This means a healthy market.

As we’ve mentioned previously, homes in Shrewsbury sell over a wide price range. At the low end, we saw a residence sell for $145k in September; and at the high end, a home sold for $1,190,000. So hopefully most of you will be able to find homes in your price range!

In summary,
Shrewsbury continues to have a healthy real estate market.
Inventory is high enough to offer a reasonable selection, and desirable homes are still moving fast.
And prices and unit sales are up over the prior year.

That’s your Thrive Real Estate Market Report for Shrewsbury through September, 2018.
The coolness of fall appears to be arriving, and the earliest signs that the leaves will be changing are showing. Fall in New England, it doesn’t get any better than that. Enjoy!

Recent Market Updates

August 2018 Real Estate Market Update for Shrewsbury MA

July 2018 Real Estate Market Update for Shrewsbury MA

Shrewsbury MA Real Estate Market Update July 2018

Thrive Real Estate Specialists Owner/Broker Maribeth Lynch
gives Updates on the August 2018 Real Estate Market in Shrewsbury MA

The Shrewsbury real estate market is strong.
Compared to the prior year, we’ve seen housing sales increase by nearly 8%. And, average selling price is up by nearly 5% to $432k.
The number for days on market for those sales was very low – 60 days for the prior year, and a very similar 58 days for the past 12 months.

Inventory

What about inventory? It seems that after a long period of tight inventory, that we are starting to see a change, and the stats back that up: One year ago, there were 132 listings in the Shrewsbury market and today there are 1444 listing – about a 9% increase.
If we look more closely at inventory, we see that most of the increase in inventory really happened in the last 30 days because just one month ago, there were only 133 listings.
This modest increase in inventory might be a trend to pay close attention to.

Days on Market

One other interesting thing to keep an eye on is days on market. For houses that have sold over the past 30 days, the average days on market was only 36. So, desirable houses are moving. But if we look at inventory today (units not yet sold), the average days on market for those units is 80 days. So, you can see the importance of making your home desirable.
For fun, let’s take a look at the TOP and the BOTTOM of the market:
Bottom: 34 Oakland Avenue was a 2 bedroom / 1 bath home that sold in only 18 days for $175k.
Top: 437 Main Street is a 4 bedroom, 5 bath home that sold in 71 days for $1,850,000.

In summary, Shrewsbury is a strong market.Prices are increasing.
And although we may be seeing inventory start to tick up which is good for buyer selection, desirable homes are still moving fast.
That’s your Thrive Real Estate Market Report for Shrewsbury as of August 2018.
Happy end of summer and start of school year!!

Maribeth Lynch Interviewed on WCRN 830AM Radio

photo of Realtor Maribeth Lynch being interviewed by Radio Host Pauline Robertson

Owner/Broker of Thrive Real Estate Specialists is Interviewed on WCRN Radio 830AM

Maribeth Lynch, the owner/broker of Thrive Real Estate Specialists was recently interviewed by Pauline Robertson, host of Shear Transformation on WCRN Radio 830AM.

In her interview, Maribeth answered some common questions for buying and selling real estate in Shrewsbury and the greater Worcester MA area. She also gave some tips for making your home more attractive to buyers with very little effort.

Maribeth discusses the process of choosing the right real estate agent, some questions to ask when interviewing an agent and the importance of using a local expert when buying or selling a home. Maribeth and Pauline discuss how to get the most value when selling your home and maximizing your investment when choosing what time of year to sell. She discusses how different seasons of the year can bring a different level of competition and motivation. They also cover the difference between an appraisal and a CMA. An appraisal is generally performed by a licensed appraiser and is a general scientific value of your home. A realtors opinion of value (CMA) takes in to consideration different factors in the market. They also discussed the 55 and over real estate market.

Listen to Shear Transformation Interview Part I

Listen to Shear Transformation Interview Part II

Click here to learn more about Thrive Real Estate Specialists of Shrewsbury MA

If you would like to contact Maribeth Lynch to discuss buying or selling a residential property, call/text 508-641-9323 or email Maribeth.

Five Reasons to Sell Your House Now

Selling homes in Shrewsbury MA

Five Reasons Why You Should
Sell Your House NOW!

1) Inventory is critically short in certain price ranges (under 650k in Shrewsbury). A home that is staged and in good condition with a good location will sell quickly
2) It’s the most beautiful time of the year for photos. In fact, we have 3 clients we are working with who are planning to sell in 6 months so we have gone ahead and staged and photographed their homes NOW for a sale during the late fall/winter.
3) Interest rates are low-low-low which means your buying power is high-high-high. The Feds met last week and decided there would be no change to the prime, so this summer is a great time to grab a low priced mortgage while you can
4) We are in an ascending market- which means if you are selling and buying you can take advantage of that on your sale side and hope to nab a great house on your buy side
5) Families have TIME in the summer, so Mom and Dad might have time to focus more on homes that enter the market now, and might decide to make that move during the lazy days of summer.

Click here for a free home valuation or call/text Maribeth at 508-641-9323 to start the discussion.

Shrewsbury Rental- 6 Williamsburg Court #11

6 Williamsburg Court Shrewsbury MA

 

New Rental in Shrewsbury
Great Commuter Location!


Newly offered 1 BR/1 BA unit available in very desirable Williamsburg Court. Upgraded kitchen with granite counters, new tile floors & stainless appliances, adjacent dining area with extra cabinetry for storage. Large slider in living area with laminate hardwoods. Spacious bedroom with new carpeting and very large closet. Updated bath with new sink vanity and tile floor. Fresh paint throughout this bright & sunny unit. Fantastic second floor location with large balcony overlooking gorgeous landscaped grounds with a view of the pool. One deeded parking spot. Heat, hot water, swimming pool included, laundry facilities on site. New AC units with remote controls. $1275/mo
 

View the Photo Gallery

 

See the full listing for 6 Williamsburg Court #11

 

Call Stacey for more information 508-380-6077

25 Hapgood Way Shrewsbury MA 01545

photo of 25 Hapgood way in Shrewsbury MA

 

New Listing:
25 Hapgood Way Shrewsbury MA

 
This is the kind of house that makes you do a double take and say, “What an adorable house!” It’s a perfect Cape style home located in a highly walkable neighborhood right in the center of Shrewsbury. Inside you will find nicely appointed rooms, including a front to back living room, a large dining room with hardwoods and a big updated kitchen jam-packed with cabinets while offering views of the bucolic backyard, half bath with laundry as well! Upstairs are three spacious bedrooms, each with ample closet space, plus a family bath with walk-in shower. The unfinished basement has loads of storage space, with built in shelves and tons of future potential. The yard, which includes a large deck and garden shed, will be a delight of surprises as it turns into a showcase of perennials lovingly cultivated by the current owner. The neighborhood combines the best of all worlds with sidewalks, all within steps to downtown with its shops, school & new library. Paton School District
 

Open House- Sunday 3/20/16 12-2pm

 
Click here to see the full listing.
 
Click here to see the photo gallery for this property.
 
For more information about this property, please contact Maribeth Lynch.

508-641-9323 or email Maribeth.

2015 Home Sales


 

2015: A Year in Review
by Thrive Realtors


We at Thrive Real Estate Specialists want to send our deepest thanks to those who made our first full year in business a huge success. The greatest achievements in any organization are made up by the small steps we take each day to service and respond efficiently to our clients. We thank each and every person who have helped us build our brand and have entrusted us with their business. May you THRIVE in 2016!

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Shrewsbury Real Estate Market Update

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Contact Info

Thrive Real Estate Specialists
Maribeth Lynch
26 Maple Ave.
Shrewsbury, MA 01545
Direct: (508) 641-9323
Maribeth@ThriveRealtors.com

Thrive Realtors, Real Estate, Shrewsbury, MA