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Plymouth, MA Home Prices Decline Q1 2016, Sales Surge.

Apr 29, 2016 9:11:02 AM

The median price for both single-family homes and condominiums in Plymouth, Massachusetts declined in the first quarter this year compared to the first quarter in 2015, according to data compiled by the Massachusetts Association of Realtors. 

house_bar_graph_arrow_up.jpgThe median price of a single-family house declined 2.4 percent to $314,700 through the first three months of the year compared with $322,500 during the same period last year. The median price increased 5 percent in March to $315,925. On average homebuyers paid 93.5 percent of the original list price in the first quarter and 95.3 percent in March. 

Single-family home sales jumped 57.9 percent in the first quarter to 150 sales compared to 95 sales during the January through March period in 2015. Sales spiked 88.2 percent in March to 64 compared to 34 in March 2015. 

The number of single-family homes available declined 14.8 percent in March, and the months supply of inventory decreased 24 percent to 3.8 months. About six months of inventory is considered a balanced market. On the other hand, new listings increased 40.4 in the first quarter and 38 percent in March. 

The median price of a condominium in Plymouth decreased to $248,250 in the first quarter, 5.4 percent less than the $262,500 median price during the first three months of 2015. The median condo price increased 19.4 percent in March to $232,750. Homebuyers paid on average 95.4 percent of the original list price in the first quarter and 96 percent in March.

Condominium sales increased by one to 40 sales in the first quarter, but declined by one sale in March to 16 units sold.

The number of condo units available increased 6.5 percent to 114 in March, and the months supply of condominium inventory increased from 6.3 months to 6.5 months, so it's a pretty balanced con do market in Plymouth. New condo listings increased 69 percent to 49 in March. 

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Plymouth MA

   

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