September Market Update for Plymouth, MA

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Market Trends

September Market Update for Plymouth, MA

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plymouth, ma real estate home price trends

We are moving right along towards the end of summer.  September is here, there has been some cooler nights already, and the kids will be going back to school!  However, due to Covid-19 precautions, it will be a bit different type of school year, with kids combining both home-schooling and in-class learning with their teachers.

The Plymouth, MA real estate market continues to stay HOT.  We will focus our attention on single-family properties…  Listings are still way down compared to one year ago (down 57%), while Demand continues to get stronger (we have had 730 pending sales (signed sales contracts) so far this year, compared to 653 at this time last year (a 12% increase).  Furthermore, pending sales are at their highest level in 5 years.  Actual closed sales year to date is 563 sales, and it was exactly 563 closed sales last year at this time.  The Median Sale Price year to date is up 10% to $435,000. 

The story continues to be a very low supply of listings, and very high demand.  The single-family inventory levels are at 5-year lows (apprx. 1.42 months supply of inventory), and mortgage rates are at historical lows.  This is a recipe for rising prices as we are seeing play out.  Using another source of data from Coldwell Banker, the median sale price so far this year in Plymouth is up 9% to $433,000 from the final 2019 median sale price of $398,250.

 

plymouth, ma real estate home price trends