Plymouth Home Sale Prices Dropped in March

Sales of Plymouth’s single-family homes has fallen so far this year, but not as far as many Massachusetts towns, which The Warren Group blamed on "shrinking inventory," which is "depressing sales volume."

Going against the trend for the rest of the Commonwealth and Plymouth County, single-family home sales in Plymouth stayed the same from March 2012 to March 2013, in both months 40 homes were sold. However, the number has dropped off for the year, but not significantly. So far this year, Plymouth has seen 90 homes sold – compared to 104 in 2012, according to The Warren Group, which publishes Banker & Tradesman.

"Low inventory is plaguing housing markets all over the country, and Massachusetts is no exception," said David Harris, editorial director at The Warren Group. "With mortgage rates low and prices competitive, we're hopeful more sellers will emerge and the trend in dropping home sales will reverse."

Also going against the grain, Plymouth's single-family home median sale price decreased in March. While Massachusetts saw an 8 percent increase from March 2012, and Plymouth County the increase was 17 percent, the median price of Plymouths’s 99 homes sold in March 2013 was a 9.64 percent decrease from March 2012, according to The Warren Group. Across

"It's clear that the low supply of homes for sale is continuing to pressure prices," Harris said. "And there is definitely concern that such steep price spikes will cause an affordability issue."

Source: The Warren Group