If you’ve been thinking about buying a home in Shrewsbury, you may be wondering if the time is right.
By all indications, real estate blogger Len Dunikoski says the signals are mixed.
While home prices have increased by 12 percent nationwide, the median price of a single-family home in Shrewsbury, as of August, went up by only 2 percent compared to last year.
Is this a good thing for the buyer or seller? Dunikoski says a little bit of both, depending on how your particular situation figures into the small and bigger picture analysis, which he explains in full detail in the blog.
According to the absorption rate, Shrewsbury is still in a “seller’s market" and has been for more than a year, Dunikoski says while drawing comparisons to the markets in neighboring towns.
And that's a good thing for a buyer, Dunikoski says. With the median home price having only increased by 2 percent, the decreased number of sales and the slightly increased inventory tells you to be selective, and make sure you buy a house that’s not priced above the market, he adds.
If you're thinking of buying a home in
Shrewsbury, look now while there's still a good supply of homes and lock in on an interest rate before they go up, Dunikoski says.
Read Len Dunikoski's full blog by clicking here for more analysis and details.