Market Update 12/3/2020 Single-Family homes Plymouth, MA
Happy December! Hope you had a terrific Thanksgiving!
We are approaching the end of 2020, and although we have had Covid-19 to contend with, the number of sales in Plymouth in 2020 are exceeding the amount of sales during each of the last 4 years. Sales this year so far are up 8% from last year at this time. Plymouth has had 853 sales in 2020 so far year-to-date, and the closest of any other year during the last 4 years was in 2018 when there were 830 sales at this time. We have had historically low interest rates to spur on the buying activity, and a new found appreciation for the suburbs.
Plymouth (and most of the south shore) has had a high volume of sales, but continues to have a very low supply of listings. This, again, has contributed to rising real estate prices. The rate of sales vs. the low supply available dwarf the last 4 years. Due to this, the Plymouth single-family market has less than a month’s supply of inventory right now (0.90 months supply, which is down from last month). Last year at this time, we had 2.66 months supply, and the previous three years had all over 3 months at this time. The median days on market for closed sales is 30 days.
The median sale price for single-families in Plymouth, MA year-to-date is up to $445,000, up 12% from last year at this time when it was $399,000, and also up from last month. Again, it is a seller’s market. Buyers are up against the highest prices Plymouth has seen with lots of competition for the limited supply available.
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