Happy New Year! 2020 is now behind us. The median sale price of single-family homes in Plymouth was $450,000 for 2020, per the latest MLS stats on 1/7/2021. This is up 13% from the median sale price of $398,810 in 2019. Inventory (listings) is at the lowest level in 5 years (44 single-family homes on the market as of 12/31/2020), listings taken for the year were at the lowest level in 5 years, and sales activity (both listings that “went pending" and actual closed sales) was at its highest level.
These market conditions of low inventory, high demand, and historic low interest rates have created the perfect recipe for skyrocketing home prices. Although the overall trend since around 2012 has been rising real estate prices, 2020 leaped to another level with the 13% increase (as a comparison, 2019 vs 2018 saw a 5% increase in home prices).
This is where we are as 2021 kicks off. I hope you have a terrific year!
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