SHREWSBURY – Recession? What recession? Despite the chatter in the mainstream media about a surplus of home inventory, Shrewsbury is faced with a drastic shortage of housing inventory in certain price ranges and styles.Caused by a variety of factors, we seem to be in the middle of the oddest inventory inversion in many years, and that may in fact be responsible for a spike in pricing that will defy the logical people analyzing the market and thinking that prices are continuing to fall across the board.
On a national level, inventory has certainly been building for the last two years, and continues to grow with many foreclosures yet to come in 2010-2013. In Shrewsbury, however, things are much, much different. We are faced with some drastic shortages of inventory in small subsets of styles and ranges.
One of the most needed items right now are younger 4BR colonial style homes in the 450-650 price range, in a neighborhood setting on a nice lot. As one does a preliminary scan of the MLS, which I’ve done with many clients this week, you’ll note that there are, very, very few “cream-puff” level homes available in this range, and I know speaking for myself I have at least 4 buyers waiting for something just like that to come along.
Specific neighborhoods in demand right now, are Fox Farm and Stonybrook Farms, Wheelock Estates, Hills Farm, Walnut Ridge, Shrewsbury Hunt, Winchester Estates, Huntington Hills, West Hills, Thomas Farm Circle, Northmeadow Estates, Country Way, and Ternberry. Currently in those subdivisions, there are virtually no homes available at all, and I have Buyers emailing me every day looking for the inside track on what may be coming available in the next weeks.
Also in high demand are crisp, clean, updated homes in the 300-400K range, with a nice floor plan, and located in a pretty location, homes in the sub-300 range that are in nice condition, and townhomes in South Meadow, Maplewood, and Harrington Farms.
Many people understandably think that spring is the best time to sell. It’s certainly the “prettiest” time, but yet it often is not the most profitable for sellers. One would be correct in thinking that there are more people out looking in the spring, but there may be 5 times as many listings, and so that can sometimes drive prices back down. When inventory of any product is low, prices tend to spike, and so the Sellers who “get tot he market first” in the midst of winter often find their homes in much higher demand. Demand may be so high, in fact, that you may be among the fortunate few who’s homes I have buyers for without them even hitting the market at all. I love when that happens.
So, if the time for sitting on the fence is over, maybe now is the time to have a discussion. If you own a home that fits those parameters, and are even remotely thinking of making a move, drop me an email at steve@shrewsbury.net and let me show you how we may be able to work towards helping you achieve your goals.
I’ve put together an interesting video that is specifically for people in Shrewsbury thinking of moving. It contains interviews with a host of Shrewsbury residents, most of whom you know, talking about their experiences in the local real estate scene. You can access the video directly at http://www.youtube.com/watch?v=BjbPr_8rdpQ
As the top agent in Shrewsbury since 1992, I can tell you that this is a very unusual marketplace, and one in which having the level of experience that comes with time, is the key to achieving ultimate success.
Steve Levine
RE/MAX First Choice
508 845-HOME <4663>
steve@shrewsbury.net
