November 2020 Plymouth, MA Real Estate update

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Market Trends

Plymouth, MA real estate market update

There are currently 87 single family listings on the market.  Last year at this time, there were 236 listings!  And in 2018 there were 237 listings at this time, in 2017 there were 258, and in 2016 at this time there were 285 listings.  Combine that with the fact that we have had 787 closed sales this year (which is the highest in 5 years, and up 9% from last year.  Pending sales year to date is 924 transactions, again, the highest in 5 years, and up 10% from last year), and we have just over 1 month’s supply of inventory (supply would be absorbed at the current sales volume pace in 1 month if nothing changed nor listings added).  This represents a shortage of listings (3-6 month’s supply is usually considered a balanced market).  Also, interest rates continue to drop, and they are at their lowest levels, spurring more activity (high demand) which has caused sale prices to climb.

plymouth, ma real estate home price trends  

 

The median sale price for single family properties in Plymouth at this point in 2020 is $445,000, up 12% from this time last year.

 

Plymouth Single Family Median Sale Price chart

 

That is where we are on November 6th, 2020: Awesome time to sell, and tough competition and high prices to acquire!

 

 

Plymouth scenery