Hingham Real Estate Trends
Brought to you by Top Hingham Real Estate Agent Alice Pierce
The Plymouth County Registry of Deeds reported that real estate activity for the first half of 2016 finished on a high point with both home sales and mortgage lending up.
The Registry of Deeds reported that June of 2016 was the busiest month of the year thus far. This follows a two year pattern where June showed the highest real estate sales activity. However, June of 2016 surpassed June of last year with 1,173 deeds recorded in Plymouth County, and 1,037 recorded in June of 2015.
Plymouth County Register of Deeds John R. Buckley, Jr. stated, “Hopefully 2016 will continue to provide us with equally robust sales this July and August and throughout the year.”
Plymouth County real estate sales brought the 2016 total year to date to 4,839 deeds. This was 24% more than the 3,903 deeds recorded in the first half of 2015.
There were 2,178 mortgages recorded in Plymouth County in June of 2016. This is the highest number of mortgages recorded in a single month since the year 2013. The year-to-date totals for recorded mortgages is 5% higher than the same time last year with 10,806 mortgages in 2016. Additionally, the overall sales prices remained strong as well.
For more information visit the Plymouth County Registry of Deeds website.
The Norfolk County Registry of Deeds reported a solid rise in real estate transactions that was offset by reductions in total real estate sales volume and average sale price. However, Norfolk County home sales increased only 3% when compared to the same quarter last year.
The average sales price when combining residential and commercial properties was $689,371, which is a 13% decrease when compared to the same time period in 2015.
The number of mortgages recorded for the second quarter of 2016 was virtually unchanged when compared to last year’s numbers. But, total mortgage borrowing increased 31% when compared to the 2nd quarter in 2015.
Norfolk County Register O’Donnell concluded, “While the results were mixed, I continue to be upbeat about the Norfolk County real estate market. I am cognizant of Brexit and what political and economic instability in Europe could mean for the stock market and our local economy here in Massachusetts. With that said, I would also argue business activity in eastern Massachusetts continues to be a net positive as evidenced by the relocation of GE’s worldwide headquarters to Boston. This business activity can only bode well for the entire Massachusetts real estate economy including Norfolk County.”
For more detailed data about the real estate activity in Cohasset, Weymouth, Braintree, and Quincy please visit the Norfolk County Registry of Deeds website.
Waterfront properties about on the South Shore of Boston and top Realtor Alice Pierce is your preferred agent for buying or selling your home. Contact her by visiting her Coldwell Banker website, sending an email or calling her cell phone at 781-724-7622. She can provide in-depth, first hand information about all South Shore communities including Hingham, MA, Cohasset, MA, Hull, MA, Norwell, MA and any other South Shore towns.