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Plymouth, MA Home Sales Up 23% in July 2015

Sep 10, 2015 1:26:37 PM

The number of single-family homes sold in Plymouth, Massachusetts in July increased 22.7 percent to 92 compared to 75 homes sold in July 2014, according to data compiled by the Massachusetts Association of Realtors. 

Plymouth, Massachusetts real estate market reportThe number of houses sold through July declined 2.3 percent to 376 compared to 385 homes sold during the same seven-month period in 2014. 

The number of pending sales – homes under agreement that have yet to close – also significantly increased in July. Pending sales rose 45.5 percent to 96 compared to 66 pending sales in July 2014. From January through July, pending sales increased 6.7 percent to 477. 

The median price of a Plymouth, MA single-family home increased 4.6 percent in July to $330,000 from $315,500 in July 2014. Through July the median price also was $300,000, up 5 percent compared to $314,400 during the same time frame in 2014. On average home buyers paid 95.2 percent of the original list price in July. During January through July, home buyers on average paid 95.9 percent of the original list price.  

Although inventory of single-family homes declined 22 percent in July, compared to many cities and towns in the Greater Boston Area Plymouth had plenty of homes for sale. There were 341 single-family homes on the market in July compared to 437 in July 2014. The months supply of inventory was 7.7 months in July 2014 (clearly a home buyer's market) compared to 5.9 months supply of inventory (a fairly balanced market) this past July.

New listings in July declined from 117 in July 2014 to 105 new listings in July 2015. Through July new single-family home listings declined 6.4 percent to 733 compared to 783 during the first seven months of 2014. 

Plymouth condominium sales declined 48 percent to 13 units sold in July, but increased 20 percent to 120 condos sold during the January through July time frame. On the other hand, pending condo sales increased 60 percent in July to 24 and increased 23.4 percent to 137 during the first seven months of the year.

The median price of a condominium in July 2014 and July 2015 was $285,000. Through July the median condo price declined 19.1 percent to $240,000. Home buyers paid 95.4 percent of the original list price on average for condominiums in July. For the January through July period, on average condo buyers paid 94.8 percent of the original list price. 

Similar to single-family homes in Plymouth, condominium inventory declined in July. There were 103 units available, a 15.6 percent decline from July 2014. The months supply of inventory declined 27.8 percent to 5.7 months compared to 7.9 months in July 2014. New listings (30) remained the same on a year-over-year basis in July. Through July new condo listings declined 4.7 percent. 

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

   

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