Plymouth County Housing Price Trends
The Massachusetts Association of REALTORS® has released it's housing statistics for February 2023. Though closed sales fell year-over-year once again, the net percentage decrease has improved compared to previous months. This figure, coupled with nationwide trends on increasing inventory and reduced mortgage rates, spells some optimism for the Commonwealth's housing market.
- The median sales price for single-family homes showed a 4% increase to $520,000 and increased by 2.3% to $465,000 for condominiums when compared to last year.
- New listings decreased by 21.8% for single-family homes and 23% for condominiums, both compared to 2022.
- Compared to February 2022, closed sales decreased by 20.1% for single-family homes, and by 23.2% for condominiums.
While the outlook for the housing market in the coming months is trending upward, low and decreased inventory is still cause for concern. The lack of housing availability and new economic concerns such as recent banking disasters on top of a market showing recessionary traits could hamper purchasing power and the pursuit of a new home for potencial buyers.
You can find more details regarding sold properties, new listings and open houses in the Plymouth County Market Report here.
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