Hingham,MA: Monthly Real Estate Trends
The Plymouth County Registry of Deeds published the year end summary report of the real estate market for Plymouth County and compared the years 2015 to 2014.
The sale of real estate property rose by 8% in 2015. There were 9,519 home and property sales in 2015, compared to 8,851 house and land sales in 2014. Dollar amounts in 2014 were $3,111,898,779 compared to the increased amount in 2015 of $3,429,425,019.
Mortgages took a big step up in 2015, increasing by 25%. The year 2015 saw 21,245 mortgages recorded, compared to 17,051 mortgages recorded in 2014. The average amount of home mortgages increased slightly by 4%, from $253,904 in 2014, to $265,290 in 2015.
Property values inched up slightly by 2% in 2015. Last year the average price of a real estate sale was $351,587 compared to $360,272 in 2015.
Alongside home sale, mortgage and property value increases, home foreclosures also grew in 2015. There were 555 foreclosure deeds in 2015, representing a 42% increase from the 397 foreclosure deeds recorded in 2014. Notices of foreclosure also increased from 979 notices in 2014 to 1,373 notices in 2015. The city of Brockton had the highest number of foreclosures for the month of December, 2015, and Plymouth had the second highest number.
Plymouth County Register of Deeds John R. Buckley, Jr. stated in the monthly report, “The continued increase in sales activity in 2015, gives 2016 a solid base from which to start the new year.”