Shrewsbury appreciation rates and housing market information

Shrewsbury housing market information

With 31,640 people, 12,696 houses or apartments, and a median cost of homes of $361,194, real estate costs in Shrewsbury are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Massachusetts communities.

single-family detached homes are the single most common housing type in Shrewsbury, accounting for 67.45% of the town's housing units. Other types of housing that are prevalent in Shrewsbury include large apartment complexes or high rise apartments (20.29%), duplexes, homes converted to apartments, or other small apartment buildings (7.47%), and a few row houses and other attached homes (4.40%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Shrewsbury. Owner-occupied housing accounts for 71.16% of Shrewsbury's homes, and 57.48% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Shrewsbury built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Shrewsbury built from 1940-1969 (31.77%). A lesser amount of the housing stock also hails from 1939 and earlier (13.71%), and some were built from 1995 and later (13.71%).

Shrewsbury home appreciation rates

Appreciation rates for homes in Shrewsbury have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 82.30%, which ranks in the top 40% nationwide. This equates to an annual average Shrewsbury house appreciation rate of 8.23%.

Over the last year, Shrewsbury appreciation rates have trailed the rest of the nation. In the last twelve months, Shrewsbury's appreciation rate has been -5.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Shrewsbury were at -0.13%, which equates to an annual appreciation rate of -0.52%.

Relative to Massachusetts, our data show that Shrewsbury's latest annual appreciation rate is higher than 34% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Shrewsbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shrewsbury - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Shrewsbury real estate investment or home purchase decisions.