Plymouth, MA real estate Update
First and foremost, I hope everyone is staying safe during this health crisis we are all dealing with. The coronavirus (COVID-19) has temporarily, and possibly permanently, closed a lot of businesses, closed schools, changed our daily routines, and has afflicted thousands of people with a viscous virus. Please stay safe.
As we start the beginning of spring, lets take a look at the real estate market in Plymouth, MA so far in 2020. Up to this point in time in 2020, sales are higher than each of the last 4 years including up 27% from this time last year. This is most likely the result of a mild winter, as well as interest rates dipping to near historical lows again. Demand is there! How this plays out moving forward due to the coronavirus (COVID-19) outbreak, only time will tell.
Median Sale Price is still up from last year, up 11% from last year to $403,500. Year to Date, Total Listings are down to their 2nd lowest point in 5 years. Furthermore, Total listings this year are down 17% from this time last year. Due to this and high demand, there is an under-supply of listings/housing currently. Despite the uncertainty we are all facing due to the coronavirus, it is still a seller’s market at this moment in time.
Please check back for future updates to see how the virus, and economic consequences resulting from it, may affect the real estate market. Please, stay healthy and safe.
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