Shrewsbury Real Estate Market Update- October 2018

by Maribeth Lynch

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

“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!