The Trend in Home Sales in Plymouth MA - Improving, or...?
Home prices in Plymouth on average are rising! Home prices have risen 3.4% since June of 2009.
The current average listing price of homes for sale in Plymouth MA is $406,818, down just 0.2% from a month ago. Compare this to the current median sales price of $257,900 - where half of sales are above this amount and half below it.
While prices of homes in Plymouth on average, 3 bedroom homes are selling for less. Prices of 2 bedroom homes are down 7.4% while prices of 1, 3 and 4 bedroom homes are all up. 1 bedroom homes are up 14.4%, while 3 bedroom homes are up 15.8% and 4 bedroom homes are up 26.3% from just a year ago. Below is a chart of the trend of median prices of homes for sale in Plymouth MA over the past 5 years through June 2010:
While cyclical, the number of sales have been relatively flat for all styles of homes in the past 5 years:
So what does all this mean? Well, if you're looking for a home in the town of Plymouth, you better not mess around too much. Overall, sales are relatively flat, but prices of homes have risen in the past year. While sellers still aren't in control of this market, buyers should still be reasonable in their offers when negotiating.
You can still buy a home with no money down in Plymouth with a VA Loan or with a USDA Rural Development Home Loan. With a MassHousing loan, you can purchase a home with as little as 3.0% down. And, with the FHA Mortgage program, you can purchase a home with as little as 3.5% down.
Be sure to contact me, Lew Corcoran, toll free at 1-800-984-3341, when you're looking to get pre-approved for a purchase of your next home in Plymouth or in the surrounding area. Otherwise you may end up frustrated, disappointed and, unfortunately, perhaps misled.
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