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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

Posted in: Market Updates, Shrewsbury Real Estate Market Updates Tagged: buying and selling homes in Shrewsbury MA, Shrewsbury MA Real Estate, Shrewsbury MA real estate market

Shrewsbury Real Estate Market Update August 2018

Real Estate Market Update for Shrewsbury Massachusetts | August 2018

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

The Shrewsbury real estate market remains strong!

Year to date, the total market volume is up 10% over the prior year. This comes from an equal combination of more home sales and higher prices.

The number of days on market for sold homes remains surprisingly low. The average in August was 31 days vs. the 39 days for last August.

Let’s consider inventory. As of September 1 there were 98 units available in Shrewsbury which is much more than the February 1 low point of the year which was 48 units. But this increase in inventory is probably typical for a fall market as this year’s pattern is almost identical to last year’s.

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 of September 1 last year, the average days on market was 102 while this year it is down to 75 days.
So we are seeing shorter cycles not only for sold homes but for homes remaining on the market. This is a healthy trend.

Now a quick look at the TOP and the BOTTOM of the market. In August there was a sale at $103,900 while at the other end of the market, a home was sold at $1,180,000. This large range is typical for Shrewsbury and suggests that for most people, Shrewsbury will have something in their price range.

In summary,
Shrewsbury continues to have a healthy real estate market.
Home sales are up and prices are increasing.
Inventory is high enough to offer a reasonable selection, while desirable homes are still moving fast.

That’s your Thrive Real Estate Market Report for Shrewsbury through August, 2018.
School is in session, fall has officially begun, and soon the leaves will be changing. This is a great time of year in New England. Enjoy!

Recent Market Updates

July 2018 Real Estate Market Update for Shrewsbury MA

Posted in: Shrewsbury Real Estate Market Updates Tagged: Buying and selling homes for sale in Shrewsbury MA, Real Estate Market Shrewsbury MA, Shrewsbury MA Real Estate

Shrewsbury MA Real Estate Market Update- May 2018

Posted in: Market Updates, Shrewsbury Real Estate Market Updates Tagged: buying and selling homes in Shrewsbury MA, Shrewsbury MA Real Estate, Shrewsbury MA real estate market

Lakeway Commons Shrewsbury MA

photo of the apartments at Lakeway Commons in Shrewsbury Massachusetts

Exciting Developments at Lakeway Commons

Entrance to the Lakeway Commons development in Shrewsbury
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If you’re like me, you’ve watched with interest as the former Spag’s site has undergone a transformation into Shrewsbury’s newest shopping plaza. While anchor store Whole Foods is not yet open for business, construction is largely complete, and the plaza hosted its grand opening last month with a kick-off party that included discounts, giveaways, and prizes. The event also featured the unveiling of a memorial plaque commemorating the Spag’s legacy.

The development includes excellent new Shrewsbury dining options such as Burtons Grill and Tavern in the Square, which are both now open and offer excellent, allergy-friendly dining options with large seating in the bar areas and plenty of dining space – although I would recommend making a reservation when dining at either location with a large group, especially on weekend evenings. The new Starbucks location in the plaza includes a drive-through and a roomy seating area inside.

Tavern in the Square

Other new businesses include Especially for Pets, Orangetheory Fitness, the newest location of Jenny Boston Boutique, a UniBank branch, Scottrade, Tile Works, Massage Envy, Visionworks, Lunchbox Wax, and QDOBA. Many are already open for business, while Whole Foods is scheduled to open in January.

Lakeway Commons, the culmination of a revitalization effort by Grossman Development Group, also includes condos and townhomes. Parts of the site were rezoned to accommodate its new mixed-used classification. The apartment complex includes a pool, clubhouse, and rental garages as well as professional landscaping that incorporates trees and green space. One- and two-bedroom and studio apartments are renting now.

While as Lakeway Commons is opening its doors to Shrewsbury residents, nearby Marlborough is home to the new Apex entertainment complex, which features restaurants, shops, offices, and multiple entertainment venues that are sure to appeal to residents from the surrounding towns. These new developments, coupled with existing shopping and dining options and the bountiful opportunities for outdoor activities in the area add further incentive to live in this beautiful part of Central Massachusetts. While we may be saying goodbye to past icons like Spag’s, there are always new opportunities for our town to grow and attract dynamic businesses.

Posted in: Featured Blog Posts, Shrewsbury MA, Shrewsbury MA Real Estate Tagged: Lakeway Commons Shrewsbury MA, Shrewsbury MA Real Estate

New Mid-Century Listings Offer Opportunities for Walk-to-Town Lifestyle

photo of the center of Shrewsbury MA

New Mid-Century Listings Offer Opportunities for Walk-to-Town Lifestyle

Maribeth Lynch, Thrive Real Estate Specialists

 
If you’re searching for a home right now, you’re sure to know that it’s a seller’s market and there is not a lot of inventory available for purchase. However, I’m very excited about several new properties I will be listing, and I want to share a bit of a preview with prospective homebuyers.
 
In the coming weeks, I will be listing five mid-century properties that were built in the 1940s and 1950s, during the era that is sometimes called “mid-century modern” or “contemporary.” These homes are enjoying a resurgence in desirability due to their simplicity; they are functional and lack the affectation and embellishment that characterized the rise of the McMansion.
 
There are some features that characterize mid-century architecture and décor, such as an uncluttered look achieved through sleek and uncomplicated lines – a home that is not fussy with detail provides a new homeowner with a clean canvas on which to apply his or her personality. These homes often incorporate a harmony between indoor space and outdoor space that might include screened-in porches, large or sliding glass doors, and small but established lots with plentiful opportunity for gracious landscaping that blends well with the lines of the house.
 
The popularity of mid-century homes may be due to a move toward a back-to-basics style of living characterized by a lack of pretension in architectural style. But if you ask me, another desirable feature of many of these homes is their location. There is a preponderance of mid-century homes clustered near Shrewsbury’s town center, and that location provides a nostalgic and highly-sought walkability that has begun to dwindle in towns as suburban sprawl has dictated a reliance on automobiles. Homes lining the streets near the town center feature mature trees and established landscaping, creating neighborhoods perfect for walking.
 
I’ve written before about the benefits of living near the town center. Easy access to our gorgeous new public library is just one such advantage, and if you haven’t visited this state-of-the-art building with its community feel and many amenities, I highly encourage you to do so. Our town common, too, is a beautiful place to spend time, flanked by the First Congregational Church and the Shrewsbury Historical Society, with the older sections of historic Mountain View Cemetery just footsteps away. Dean Park and Prospect Park are also close to the center of town and provide residents with a wealth of recreational opportunities.
 
I am fortunate to have served on the committee to develop Shrewsbury’s Master Plan, a document created to look forward toward the town’s future growth and development. Included in the plan is a proposal concerning the redevelopment of the downtown area to provide vitality and accessibility to residents. The goal is continued pedestrian-friendly access to gathering places, shopping, and services. Living near the center of town will only become more desirable as this redevelopment unfolds. I expect Shrewsbury’s center to enjoy a resurgence in vibrancy – that’s just one of the reasons that my office is located in the heart of town.
 
Keep an eye on my website and Facebook page, or contact me directly to find out more about these great new properties as they come on the market. I anticipate that they will generate a lot of interest and I look forward to working with clients who are interested in all that they have to offer.

Posted in: Featured Blog Posts, Home Buyers, Homes for Sale and Just Sold, Homes for sale in Shrewsbury MA Tagged: homes for sale in Shrewsbury Ma, Shrewsbury MA Real Estate, Shrewsbury Ma Realtors, Walk to town properties in Massachusetts, walk to town properties in Shrewsbury MA

New in Shrewsbury: Lakeway Commons and More

Aerial View of Construction Progress of Lakeways Commons in Shrewsbury MA
Aerial View Progress Courtesy of www.grossmanre.com

What’s New in Shrewsbury? Lakeway Commons and More…

by Maribeth Lynch, Owner/Broker of Thrive Real Estate Specialists

If you drove through Shrewsbury on Route 9 this year, chances are you saw the demolition of Shrewsbury’s longstanding Spag’s storefront and warehouses. Demolition has not been limited to the Spag’s buildings; tailor shop the Golden Needle has also been town down and various other structures have been razed to create space for the exciting new complex. And while beloved Shrewsbury institutions may now exist only in memory, there is much promise and excitement to be found surrounding the development that is taking their place.

A few months ago, I wrote about the new Lakeway Commons development and the commercial and residential opportunities that the Grossman Development Group property will offer to Shrewsbury. On June 7th, town business leaders joined local and state officials at the official groundbreaking for the project on the former site of the Spag’s complex. Since then, construction has been virtually nonstop.

Lakeway Commons will serve as a mixed-use development with 250 apartments, 14 townhomes, and various dining and retail outlets, with a 50,000 square foot Whole Foods store serving as its commercial anchor. The complex will also feature plenty of parking and pedestrian access, a small monument serving as a tribute the Borgatti family who owned and operated Spag’s for years, and a fresh new aesthetic that is sure to revitalize the area.

Early in the year, Shrewsbury applied for and obtained a liquor license for Whole Foods, granting the store authorization to sell alcoholic beverages in addition to its complement of high-quality and organic foods and products. Several other restaurants and businesses that are new to Shrewsbury will join Whole Foods at the site. Tavern in the Square, Sweet Pizza, and Burton’s Grill will offer the community new dining options, while Starbucks will open an additional Shrewsbury location. Jenny Boston will be opening a storefront in the complex, as will Visionworks and UniBank. Lakeway Commons is set to open this summer with the grand opening of Whole Foods.

The town homes at Lakeway Commons will offer various floor plans and square footage, and will include such features as main floor master suites, granite bathrooms and kitchens, stainless appliances, hardwood flooring and wall-to-wall carpeting, crown molding, and other gracious amenities. A new bus stop at Lakeway Commons will offer service to UMass Medical.

The development is sure to have a positive impact on Shrewsbury’s economy, particularly when coupled with the Lakeway District’s recent improvements to the nearby White City shopping complex and the beautiful new bridge spanning Lake Quinsigamond as a link between Shrewsbury and Worcester.

In addition to the development at Lakeway Commons, Maryland-based Total Wine and More is opening a store at former site of Petco near Trader Joe’s. Demolition of the Petco building and construction of a new storefront has been ongoing this year, and the liquor store expects to bring 50 jobs to town.

With the beautiful library renovation and the advent of several new developments in Shrewsbury, I’m very excited about our town’s bright future. I’d be interested to hear your thoughts. What would you like to see in Shrewsbury to continue to grow our vibrant town?

Posted in: Blog, Home Buyers, Homes for sale in Shrewsbury MA, Properties, Shrewsbury Real Estate Tagged: Shrewsbury MA Real Estate, Shrewsbury MA Real Estate Blog

120 Boylston Circle Shrewsbury Ma 01545

Photo of 120 Boylston Circle Shrewsbury

Just Listed! 120 Boylston Circle Shrewsbury
Open House SUNDAY JUNE 12th 12-2pm

 

 
This center-chimney Cape on a great lot has a classic look and great bones: nicely proportioned rooms, hardwoods and neutral decor. In the front of the home, you’ll find the living and dining rooms, which are both quite spacious. The kitchen has lots of square footage and overlooks the picturesque backyard. A side mudroom with lots of space for hanging coats and hoodies is the perfect drop zone for all your “stuff.” One of the three bedrooms and a full bath complete the first floor. The two other bedrooms and a large, updated family bath, plus more storage, are upstairs on the second floor. The partially finished basement features a home office and lots of storage for things like toys! The high-efficiency boiler is just four years old. There’s also solar hot-water panels, a new sump pump and even an organic garden in the stunning yard with mature landscaping—which, by the way, can be enjoyed from a composite deck–or take it all in from the hot tub. One-car garage.
 

See the Full Listing for 120 Boylston Circle – Shrewsbury

 

See the Photo Gallery for 120 Boylston Circle

 
Call/text Maribeth 508-641-9323 for more information or to Schedule a Showing.

Posted in: Home Buyers, Homes for sale in Shrewsbury MA Tagged: 120 Boylston Circle Shrewsbury MA, home for sale in Shrewsbury MA, Shrewsbury MA Real Estate

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!

Posted in: condos for sale in Westborough MA, Featured Blog Posts, Home Buyers, Homes for Sale and Just Sold, Homes for sale in Grafton MA, Homes for Sale in Northborough MA, Homes for sale in Shrewsbury MA, Homes for sale in West Boylston, Homes for sale in Westborough MA, Market Updates, Shrewsbury MA Tagged: homes for sale in Shrewsbury Ma, Real Estate Agents in Worcester County MA, Real Estate Agents Shrewsbury MA, Shrewsbury MA Real Estate

THRIVE Real Estate Specialists Welcomes New Team Members

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THRIVE Real Estate Specialists Welcomes New Team Members


We are pleased to announce that we are growing with the addition of two new members to the Thrive team. Dawn Wisbey and Stacey O’Neil are coming on board as Realtors and Rick Lynch will be working as our Business Manager.

Real Estate Agent Dawn Wisbey
Real Estate Agent Dawn Wisbey

Wisbey, who relocated to Shrewsbury from her native England in 2006, recently obtained her Realtor’s license. Her previous professional experience includes a background in personnel and development and a position as a Director of Human Resources. Wisbey’s subsequent involvement in Shrewsbury Public Schools and with Shrewsbury Youth and Family Services speak to her dedication to the community. As a transplant to Central Massachusetts, Wisbey’s focus is on welcoming newcomers to the Shrewsbury area. Along with her personal experience of buying and selling her own properties, Wisbey’s European roots and experience traveling the globe give her a unique viewpoint on home staging and style.


Shrewsbury Real Estate Agent Stacey O'Neil
Real Estate Agent Stacey O’Neil

Holding a B.S. in Management from Bentley University, O’Neil has a professional background in management and sales and most recently worked as a Business Relations Specialist at the University of Massachusetts. Real estate has long been O’Neil’s passion, and she has renovated four homes and built two. O’Neil also has a strong interest in antiques and collectibles and holds a space at Crompton Collective in Worcester.


Business Manager Rick Lynch
Business Manager Rick Lynch

Recently retired from Bose Corporation after 37 years, Lynch worked most recently as the company’s Director of Business Planning for its Automotive Systems Division. Lynch holds a B.S. in Civil Engineering from Bucknell University and an M.B.A. from Harvard Business School with a concentration in managerial economics. Lynch has been a Massachusetts resident since 1975, relocating here from his native Philadelphia. He spends his free time playing golf and tennis and following politics.  His favorite thing to do is to spend time with his large family.

 

Thrive Real Estate Specialists is a boutique-style real estate firm specializing in quality, personalized service rather than a “one-size-fits-all” approach to real estate. For more information, please visit www.thriverealtors.com or contact broker-owner Maribeth Lynch at maribeth@thriverealtors.com.

Posted in: Blog, Shrewsbury Real Estate Agency Tagged: Shrewsbury MA Real Estate, Shrewsbury Real Esate Agencies

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