7/6/2020 Plymouth, MA single-family prices continue to rise
June 2020 numbers are in, and we had 73 sales of single-family properties in Plymouth, with a median sale price of $472,600. The median sale price for the year so far in Plymouth is $429,000, up 8% from 2019 ($398,250).
Supply/Demand: There is currently a severe shortage of listings (under-supply of housing) in Plymouth up to the 600k price range. This is a Seller’s Market!! Supply and Demand in the 600k-1,000k range is mostly balanced based on the current absorption rates for these price bands. There is currently an over-supply of listings for houses listed for over $1,00,000. Over-priced listings in this range could sit on the market for 1-2 years with many price reductions in order to sell.
Single-family listings year-to-date are at 513, down 19% from this time last year.
Homes for sale that are priced right, in particular the 0-600k range, are “flying off the shelves” due to the shortage of listings at this time, combined with the strong demand and low interest rates.
If you are considering selling, this is the time to do so. Health and safety are, of course, a concern for all involved, and Covid-19 precautions are being utilized.