Plymouth, MA single family market update 9/11/2019

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Market Trends

Plymouth, MA single family market update 9/11/2019

 

The median sale price for single family properties in Plymouth so far in 2019 is outpacing the median sale price in 2018.  The 2019 year-to-date median sale price is $393,250.  The median sale price in 2018 was $377,200.  This represents a 4% increase.  Please see the following graph which includes the last 5 years...

 

 

 plym. sf 5 year med. sale prices 9.11.2019

 

 

Interestingly, Demand has softened so far this year as Sales Year to Date in 2019 trails behind 2018 and 2017.  Sales totals are essentially the same as the sales total at this time in 2016.  Check out the graph below…

 

 

plymouth, sold year to date sf 9.11.2019

 

 

 

Absorption Rates: We currently have a shortage of listings available for single family properties in Plymouth in the 100-400k price range. This, combined with the high median sale prices, makes it an excellent opportunity to enter the market as a seller.  Supply and Demand in the 400k-500k price range are in balance, although there is nearly a shortage of listings as the months of available supply is just over 3 months.  In the 500k up to 700k price range, supply and demand are in balance.  For properties over 700k, there is currently an over-supply of listings.  Check out graph below…

 

plym. sf 1 year absorption rate 9.11.2019

 

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