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Real Estate Market Report for Shrewsbury MA: First Half of 2014

 

How is the Real Estate Market in Shrewsbury, Massachusetts?  

 

 sold home

See this sign in your front yard!

 

Here is a summary of market activity for single family home sales in the first half of 2014, compared to 2013:

 

  # Sold

Avg

Price

Median

Price

Avg Days

on Mkt

2013 168 $412,251 $377,500 101
2014 145 $456,855 $412,500 91

Data source:  MLS PIN

 

Current Market Trends

 

As of this writing, there are 114 single family homes on the market in Shrewsbury, close to five months' worth of inventory.  The average list price is $513,000.

Also, there are 62 homes that are either under contract, or have accepted an offer with a contingency that has yet to be met.  The average list price for this group of homes is $530,000.

 

Summary

As you can see, the number of homes sold January - June 2014 was reduced compared to 2013.  However, both the average sale price and median sale price were up.  Average days on market were lower in the first half of 2014, compared to the first half of 2013.  

With the summer months upon us, I would expect to see a slight slowing of home sales through August, and then an increase in the fall.  Days on market will likely increase slightly.

One factor for both buyers and sellers to bear in mind is that mortgage interest rates are expected to start to increase.  It is expected that by mid-2015, interest rates will be 1% higher than they are now.  This will affect buyers' purchasing power, and may ultimately impact home sale prices.

 

Do you have questions about the real estate market in your neighborhood?  Feel free to contact me for up-to-date information.

 

 

Putting Today's Technology Tools to Work for You

 

Text and photos copyright 2010-2014 Kathryn J. Acciari unless otherwise noted.  All rights reserved.

 

 

 

Sturbridge & Central MA Real Estate and More

 

 

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Kathryn Acciari, REALTOR(R)
Serving Central Massachusetts
with Offices in Sturbridge, Charlton, Spencer, Auburn, and Shrewsbury

RE/MAX Professional Associates
49 Main Street
Sturbridge, MA 01566

Cell: (508) 982-0686    Email: kasellshomes@gmail.com

Web site: Search for Homes
Blog:
Real Estate Blog
Twitter: @kacciari

0 commentsKathryn Acciari • July 09 2014 12:16PM
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