Shrewsbury MA Real Estate Market Update July 2018

by Maribeth Lynch

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!!

“Anthony’s advice and assurances during these times helped us achieve another record-breaking year, states Maribeth Lynch, Founder of Thrive Real Estate and Lamacchia Realty REALTOR®.

“When the opportunity to merge with Lamacchia arose, the timing was perfect. We knew both our clients and agents would benefit from this partnership, allowing everyone to THRIVE. Having gotten to know the leadership team at Lamacchia has made our decision to merge with them an easy one. Our values are very much aligned, and we know that offering their robust marketing and training will benefit both our clients as well as our beloved agents.”

Along with Maribeth and Rick, five REALTORS® will join Lamacchia Realty, including Briana Willander, Ashley Davidson, Whitney Andrews, Mike Andrews, and Tracey Calo. REALTORS® of Thrive are like-minded professionals who work in unison and pride themselves on local knowledge and creative problem-solving, all for the benefit of clients.
As the broker-owner of Thrive Real Estate Specialists, Maribeth has been and will continue to be devoted to serving both her clients and her community with integrity, sincerity, and a can-do attitude. Her firm welcomes opportunities to give back and be charitable in meaningful ways and Maribeth believes in the importance of service. The Massachusetts Commission on the Status of Women selected her as a 2022 recipient of The Commonwealth Heroes Award, and she was a 2021 recipient of the Gratitude Project Award from the Massachusetts Association of REALTORS®.

“We are so happy to have Maribeth, Rick, and the rest of the Thrive group joining forces with the company, states Jackie Louh, Chief Operating Officer, Lamacchia Realty. “Maribeth is a well-known and respected Broker in Worcester County, and we are honored that she chose Lamacchia. We are excited to grow even more in that area and Maribeth is the perfect person to help us do just that!”

Maribeth along with the REALTORS® at Thrive Real Estate has been involved with many organizations over the years, most recently: REALTOR® Association of Central Mass- Committee Chairman, Broker/Owner Task Force, REALTOR® Association of Central Massachusetts- Board of Directors 2025, Shrewsbury Zoning Board of Appeals, Chairman, Shrewsbury Town Center Association, Founding Member, Shrewsbury Yuletide/Light the Commons, Committee Member, among many more. In addition to being involved, they also advertise and support the College of the Holy Cross where Thrive is prominently displayed on scoreboards and other places.

Lamacchia Realty’s already very aggressive marketing campaign in the region will dramatically boost the company’s market reach and help add more top-rated REALTORS® to the Shrewsbury office. The marketing plan features billboards on Route 9 and other major roadways, social media posts, postcards, newspaper ads, and much more.

All home buyers, sellers, tenants, landlords, REALTORS®, and other brokerages in the area should know that it is business as usual at the company. There will be no interruptions in service to any clients anywhere. In the weeks to come Lamacchia’s management team and staff will work with Maribeth, Rick, and all the REALTORS® at Thrive who are now Lamacchia Realtors to slowly implement Lamacchia’s suite of lead products, services, training, technology, and more.

This marks Lamacchia Realty’s ninth acquisition in Massachusetts in the past year with the prior acquisitions in Pittsfield with Home Sweet Home Real Estate, Dalton with Berkshire Dream Home, Easton with Briarwood Real Estate, Auburn with Emerson Realtors, Springfield with Sears Real Estate, Falmouth with Foley Real Estate, Fall River with Right Choice Real Estate, and Seekonk with Keystone Property Group. Lamacchia Realty is excited to bring on even more REALTORS® in MetroWest and Central Massachusetts markets in the weeks and months to come.

As a full-service, value-based brokerage, Lamacchia Realty’s mission is to empower its staff, REALTORS®, and clients to achieve success. The company provides unmatched training, systems, and technology, equipping employees with the tools they need to thrive and grow in their roles. Lamacchia Realty takes great pride in its strong culture of support, which has contributed to an impressively high retention rate. Culture is at the heart of the company, with every staff member and agent playing an integral role in maintaining and enhancing it, helping them continue to grow!

Thrive Real Estate- logo on football scoreboard as official sponsor for Holy Cross
Thrive at the Holy Cross Football Field
Thrive at Holy Cross Hockey Rink
Thrive at Holy Cross Hockey Rink

Lamacchia Realty’s already very aggressive marketing campaign in the region will dramatically boost the company’s market reach and help add more top-rated REALTORS® to the Shrewsbury office. The marketing plan features billboards on Route 9 and other major roadways, social media posts, postcards, newspaper ads, and much more.

All home buyers, sellers, tenants, landlords, REALTORS®, and other brokerages in the area should know that it is business as usual at the company.  There will be no interruptions in service to any clients anywhere. In the weeks to come Lamacchia’s management team and staff will work with Maribeth, Rick, and all the REALTORS® at Thrive who are now Lamacchia Realtors to slowly implement Lamacchia’s suite of lead products, services, training, technology, and more.

This marks Lamacchia Realty’s ninth acquisition in Massachusetts in the past year with the prior acquisitions in Pittsfield with Home Sweet Home Real Estate, Dalton with Berkshire Dream Home, Easton with Briarwood Real Estate, Auburn with Emerson Realtors, Springfield with Sears Real Estate, Falmouth with Foley Real Estate, Fall River with Right Choice Real Estate, and Seekonk with Keystone Property Group. Lamacchia Realty is excited to bring on even more REALTORS® in MetroWest and Central Massachusetts markets in the weeks and months to come.

As a full-service, value-based brokerage, Lamacchia Realty’s mission is to empower its staff, REALTORS®, and clients to achieve success. The company provides unmatched training, systems, and technology, equipping employees with the tools they need to thrive and grow in their roles. Lamacchia Realty takes great pride in its strong culture of support, which has contributed to an impressively high retention rate. Culture is at the heart of the company, with every staff member and agent playing an integral role in maintaining and enhancing it, helping us continue to grow! 

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