August 2020 update - Plymouth, MA real estate

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Market Trends

Plymouth, MA single-family market update

 

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Plymouth, MA real estate prices, agent, sell, buy

 

 

We just concluded the month of July, and I hope you are enjoying your summer. The July 2020 numbers are in, and we had 89 sales of single-family properties in Plymouth, with a median sale price of $442,555.

 

The Median Sale Price for single-family homes in Plymouth has now risen to $430,000 for the year (up 8% from 2019).

Plymouth Single Family Median Sale Price chart

 

Looking at the single-family market as a whole in Plymouth, we still have an under-supply of listings, which makes it an outstanding time to sell if you are in the market to do so.  Demand is still strong, with 465 sales so far year to date.  Last year, we had 473 sales at this time (only a 2% drop from last year despite the COVID-19 virus concerns).

 

When you break-down the Plymouth single-family market into price points, you will see a complete under-supply of listings in the 100-599k range (a seller's market).  600-799k is mostly a balanced market (with a slight edge to sellers).  The 800k-999k price range is showing an over-supplied market with 8-10 months of supply of listings (good for buyers).  And the 1 million plus market has a large over-supply of listings with 17 active listings and only 7 sales during the last year (29.14 months of available inventory).  See graph below:

plymouth, ma real estate home price trends

 Once again, the shortage of listings, in particular within the 100-599k range, plus the low interest rates and strong demand, is continuing to fuel prices in Plymouth higher. 

 

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