Real Estate Market Report for Shrewsbury MA: 1st Quarter 2014
How were home sales in the town of Shrewsbury, Massachusetts, the first quarter of 2014? Take a look:
Number of Single Family Homes Sold: 53
Median Sale Price: $375,000
Average Sale Price: $428,373
Average Days on Market: 114
How does this compare to 2013? In the first quarter of 2013, 58 single family homes sold; however, the median sale price and average sale price were $321,000 and $392,412 respectively. Average days on market were 152.
How is the second quarter of 2014 looking? Currently, 79 single family homes are active in the Shrewsbury real estate market. This represents approximately four months' worth of inventory. Not counting new construction, the average time on market for this group of homes is 168 days.
Summary: While the number of single family homes that sold the first quarter of 2014 is close to the number sold first quarter of 2013, sale prices were up and days on market were down. This is great news for home sellers; however, I believe that many current home sellers are pricing their properties beyond what the market will bear.
I caution sellers to obtain a real estate agent's honest opinion of where their home should be priced in the market, and be prepared to adjust the price downward if activity is slow.
Home buyers in Shrewsbury should expect competition. Shrewsbury remains a desireable and affordable town in Central Massachusetts. Before you go looking at homes, arm yourself with a mortgage pre-approval letter. That way, when you find a home you love, you will be prepared to present a solid offer to the seller.
We are still in a changing real estate market. Do you need help navigating it?
Call, email, or text me. I am here to help you make your move.
Kathryn Acciari, REALTOR (R)
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