Health & Fitness
The Wegmans' Effect
The arrival of Wegmans means a more competitive era for local supermarkets and the store's fanatical following can only mean good things for home sales in the area.
As the grand opening of Wegmans approaches, the question of how this wildly popular store might affect real estate values has captured my imagination again and again.
I had a conversation last weekend with my sister-in-law’s parents, who were visiting from the Syracuse area. When they noticed the Wegmans' sign perched on Route 9, the wife exclaimed: “Oh my God, you have a Wegmans!” I’m always proud of Shrewsbury, but their reaction made me feel really good about this latest addition. “Yes, we have a Wegmans!”
I predict that what I’m calling “the Wegmans effect” will be felt throughout our area in no time. Already, we’ve seen other grocers upping their game in anticipation of the opening of what will be New England’s largest grocery store. But it’s not just size that makes Wegmans stand out. Customers love Wegmans markets for their variety, as well as their ability to create an intimate atmosphere.
Find out what's happening in Shrewsburyfor free with the latest updates from Patch.
According to a recent story in the Boston Sunday Globe, almost 18,000 people have signed up online for the new store's discount card, which is close to a preopening record. The story quoted Gretchen Kinder of Hingham—yes, Hingham—who has rented an RV with friends (the “Weg-a-Bago") and may camp out in the parking lot for the opening. The Globe quotes her: "It's more than a grocery store," said Kinder, who grew up with a Wegmans in Syracuse, N.Y. "I travel to see my family four times a year. The first stop before I see my mother is the Wegmans. And it's the last thing I do before I leave."
The arrival of Wegmans means a more competitive era for local supermarkets and the store's fanatical following can only mean good things for home sales in the area.
Find out what's happening in Shrewsburyfor free with the latest updates from Patch.
While there’s a general decline in the real estate market, prices in this area are stable and balanced. In fact, The average sale price in Shrewsbury in 2008/2009 was $375,242. This same period in 2010/2011 is $406,093. If you have a home that is in good condition and is priced appropriately, you can expect to sell it within 90 days.
That’s not a bad market, that’s a “Wegmans Market”—one where things are priced reasonably, displayed nicely, and highly desirable.
