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Shrewsbury real estate market update

SL7_5271SHREWSBURY, Massachusetts – What a spring it’s been here in the Shrewsbury real estate scene. As my loyal readers know, I’ve been talking for a couple of months now about the desperate lack of inventory in all price ranges in town. It has most definitely made for a crazy ride, as the spring market came into full gear, and yet in some ways it’s been shocking in how much it changed from day to day. One moment you have multiple over-full-price offers on “house x,” then one comes on the market around the corner and sits without any Buyers. The hard thing for many has been trying to figure out why things like that happen, which is why I had put together those four free reports that have been circulating. If you hadn’t previously seen them, but would like a copy of any or all of them, just send an email to report@shrewsbury.net and I’ll send them over to you. The feedback from the few hundred folks that read them was just so wonderful that I find myself trying to think of an idea for the next one! Here are the three we have so far.

Report #1 – Increasing the net sales price of your home

Report #2 – Top Ten reasons that homes in Worcester County fail to sell

Report #3 – The Top Ten home improvements for return on investment

Report#4 – Developing a Pricing Strategy to Achieve a Top Dollar Sale

Again, if would like a copy of any or all of them, just send an email to reporsshrewsbury.net and I’ll email them over.

Many have asked what the values have done in comparison to both the peak of the market, and the bottom.
This chart shows the median Shrewsbury MA sales price going back over 10 years, and clearly illustrates the peak in 2006, and the trough in 2009.

shrewsbury median sales prices

In terms of the actual “number of sales,” you can view that on the graph below.  NOTE: Disregard the dip at the end.  That is caused by the fact that the data for the current quarter is incomplete.

Number of sold homes in Shrewsbury

This has definitely been a great month so far with new listings coming on, and I’ve had the chance to work with some absolutely wonderful Buyers and Sellers, which is really what has kept me sane after 28 years and over 2000 homes sales here in the area.  Working with great people who truly appreciate what you do, is every professionals dream come true, and those people get extra special treatment.   Several recently have had the chance to buy some fantastic properties, before they ever even hit the market, under that “shadow inventory” program, and that has made for some happy Buyers and Sellers indeed.  In fact, that’s one of the biggest assets of working with someone who has their fingers on the pulse of the market.

IMG_5482-2This month I was able to take one of my all time favorite clients, who’s home I just sold here in town, and pop them into an amazing renovated ranch that had never even hit the market….while at the same time helping out the homeowner of that ranch who really wanted to find the perfect Buyer with a minimum among of fuss.  What’s funny is that in most transaction you think that there are winners and losers, but that’s so not the case!  The best transactions in my life are the ones where everyone wins, and this was one of those for sure.

Here’s what the Buyer of the home, had to say:

“We knew the minute we hired Steve to sell our home, that we were in the best of hands, because he’s been around forever, and  had been referred by someone in our family.  Still, we didn’t realize just how critical that was going to be, until our home was under contract, and it seemed like there was nothing out there to buy.   Since it seems he is, “Mr. Shrewsbury,” as everyone had told us, he managed to locate the perfect property, that one of his other clients had just finished completely renovating, and hadn’t yet put on the market.   It was everything we were looking for and more, and we really couldn’t be happier.  There’s just no way any other agent would have pulled that off.   We are so happy to call him our Realtor, but really, we are even more happy to call him our friend….”

Heather and Keith

And from the Seller of the exact same property:

“When we decided to sell the home we were in the middle of renovating, we were a bit scared to say the least.  We had hired the wrong contractors, and several had bailed on us.  Things were in disarray, and we were out of money, time and mental energy.  One call to Steve and it was as though a huge weight was lifted from our shoulders, as it always has been when we worked with him in the past. He sent over an amazing team of folks to finish the project, and just when it was almost done, before we ever even hit the market, brought us a great offer on the house from one of his other clients, a great family, who really loved and respected the time we put into the project.  He’s been such a great friend, and really we can’t wait for the chance to work with him again!”  

Tony and Barbara

Seriously….what can be better than a transaction where everyone is happy? It just makes me love what I do, more and more each day, and after 28 years in the business, and having worked with over 2000 families, it’s not too common for someone to just look forward to each and every day with such joy.

Here are a few of my hottest new listings of the week for you to check out.



The first property this week has been one of my favorites for many, many years…and my good friends that own it have just done a fantastic job updating it to a level rarely seen in the Shrewsbury marketplace.  Set on a stunning lot in sought after Saxon Woods, it represents one of the few white brick colonials in the entire community, and a level of elegance that you just don’t find in many of the new homes being built these days.   As you step inside, you’re greeted by the most dramatic two-story foyer I’ve seen in years, complete with curved staircase and palladian window.


The floor plan is that of a home meant for that perfect balance of family life, and sumptuous entertaining, with a huge custom kitchen, flowing into an amazing two story family room, with floor to ceiling fireplace.   With a side entry three car garage, lush plantings, stone patios, and even a putting green, you’ll wonder why you ever felt the need to leave the house in the morning!  Best of all, it’s actually priced at $699,900….not the $800k you might have expected!   You can check out the virtual tour at this link 16 Saxon Lane.





Next up is a totally renovated 4 Bedroom Cape style home that sits in one of my favorite locations, just steps from Dean Park, and is priced for quick sale at only 349,900!! Often I see a home for the first time, and make a bunch of suggestions to the owners about the things they may want to do to improve it to get it ready for showings.  Then after a few weeks, it looks nice and we are ready to show it.  That was NOT the case with this beauty!  The day I walked in the door, it was already nicer than any home I had seen in a long, long time, because the owners actually just care enough to do things right!   From the gleaming hardwood floors, to the wonderful kitchen with breakfast bar, and the huge bedroom spaces, this is a home that is about as turn-key as anything you could ever ask for!   I honestly wouldn’t change a thing.   The floor plan is wonderfully flexible, with the ability to use either the first or second floor Master bedrooms, and it has a lovely finished basement playroom that will be such a great hang out for the family.


As wonderful as the updates and decor are, the real key here is the lot and location, because those are things that no amount of money can change.  Having a stunning, level backyard, a lovely with stone patio is going to make your house the one where everyone wants to hang out for the summer BBQ season.  Of course, if too many of them show up, and you can’t handle the crowd, you can always just walk them all down the street, because Dean Park is literally just steps away!!   Here’s a link to the virtual tour for this one – 39 Brookway Tour .


SL7_5057Completing the trifecta this week is a lovely property that truly is more like new construction, than the 10 year old Colonial that it actually is.  Aside from the best part, which is getting be be my neighbor, it has so much more to offer.  As you step in the door you’ll be captivated immediately by the gleaming hardwood floors, front to back living room dining room, and an amazing office set just off the soaring two story foyer.

The kitchen just had a set of lovely granite counters put in last week, to complement its wonderful cabinet and appliance package.  A triple window in the eating area looks out over acres of conservation land, with tons of wildlife right outside your door.  Off the kitchen is a huge 20+ft family room, with vaulted ceilings and skylites, that will be hangout central for the whole family.

When you need to get away from it all, just head up to the huge Master suite with walk in closets, private Euro bath, and light streaming in as you wake up each day.   Priced at $649,900, this will undoubtedly be one of the hottest properties to hit the market this month.  The only real question today is “who is the lucky buyer going to be?”  You can view the virtual tour for this one at this link 27 Stonybrook.



In other news, the overall Shrewsbury market still remains in a pretty strong recovery mode, with inventory shortfalls still holding things back quite a bit.  Inevitably I find myself as I am now, with clients just waiting for things to come on in certain price ranges, especially the 275-325k, 425-550k, and 550-625K ranges. Hopefully that will mean that the three I just mentioned will all be gone this week, but then I still need so many more to satisfy the pent up demand, so if you’re in that range and thinking of a move, by all means let me know. My direct email is steveshrewsbury.net and my cell is 508 845-HOME <4663>

As you read up above, we can often match you up with a Buyer long before even hitting the open marketplace, which always makes for a great day!

Have a wonderful summer!

Steve Levine
REMAX Professional Associates
Shrewsbury’s Top Agent since 1992







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