Shrewsbury Real Estate Market Update- November 2018

by Maribeth Lynch

Real Estate Market Update for Shrewsbury Massachusetts | November 2018

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

The Shrewsbury market is strong but slowing down after a very strong summer.

Year to date, the total market volume is up 2% over the prior year. That’s a result of slightly fewer home sales with 7% higher average prices this year.

In November there were 31 homes sold in the Shrewsbury market which was the same as the October tally, but short of the 40 homes sold in November last year. This is the fourth consecutive month of year on year unit sales below the prior year.

Average selling prices remain higher than the prior year, but not by enough to offset reduced unit sales. So total market volume has been off compared to the prior year for each of the last four months. Increasing interest rates and the recent pull back in the stock market are obvious factors.

What about inventory? 112 units were on the market as of December 1. The inventory in October through December has been higher than at any time in the past two years. These inventory levels are 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. December 1 was 83 days on market vs. 113 days one year ago.
And for homes sold in November, the average days on market was 56 which is not bad.

Lets look at the high and low of the Shrewsbury market. Last month we had a home sell at the lower end of the market for $156K, at the high end of the market we saw a home sell for $1.175M. With the higher inventories, it is a great time to be buying.

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.

By now the autumn leaves are gone. We’ve had our first snowfall, and hopefully we’ve enjoyed Thanksgiving with family. Now we can expect more snow and Happy Holidays this month. Come look at some homes before the snow gets too deep.

That’s your Thrive Real Estate Market Report for Shrewsbury through November, 2018. See you in the New Year!

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

“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!