Shrewsbury, MA Home Sales and Real Estate Market Report (2019)

March

The Shrewsbury Homes For Sale Market Report

This chart - which shows buyers are no longer pushing prices up in Shrewsbury - doesn't surprise me.  It has felt all spring like the seller's command of the market was slipping.  And the proof is here.  No longer willing to bid up prices, prices have stayed flat - and it's the sellers who have had to come meet the market. 

Can’t see the chart? You can find it Here.

A bit of a surprise here- the transactions had quite the dip.  They are off the highs, but well off that quick dip, where things had trouble moving. The HSI is headed to 100, showing that things have really cooled off.  Panic time for sellers?  Hardly, but early warning rumbles are right here. 

What should potential home buyers do in Shrewsbury?

Home buyers should be aware there are choices and some sellers will be out there too long.  Best advice here is to find home sellers who "messed up" on the price and now have to cut to find a buyer.  Buyers in Shrewsbury have gotten in the (bad) habit of ignoring properties that don't sell in the first weekend.  That's a mistake!  Now some of those will be your best values - if you know how to get it.

Find Your Next Home or Check out the Competition!

What should future home sellers do in Shrewsbury?

Home sellers should recognize that they will have competition, no matter how wonderful their property.  Buyers are no longer bidding things up, so a different strategy will need to take hold.  Be aware things are different, and the getting a quick sale will be harder than it has been previously.

Shrewsbury Homes For Sale and Sold Market Statistics - MLS Data

  • The Shrewsbury “Home Seller Index” (HSI): 124 Last Report: 214
  • There are 102 homes currently listed as For Sale by Home Sellers.
  • In Shrewsbury there have been 219 houses sold in the last 6 months, and 52 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 59 days for the last 6 months of SOLD homes In Shrewsbury.
  • Homes for sale have been looking for buyers for an average of 72 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $225 (vs. $225 also in the last report)
  • Current home sellers are looking for $228/sq foot
  • There was an Average Sold Price of $486,289.
  • Shrewsbury, MA, has 2 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 2 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

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