A downturn for Plymouth County real estate in sales and mortgages

John R. Buckley Jr.

The number of deeds registered last month fell from the number of deeds registered in January 2021. There were 661 deeds registered in County Plymouth, compared to 708 deeds registered last January. This represents a 7% drop in sales.

Record John R. Buckley, Jr. said, “We are definitely seeing a slowdown in records, but it should be noted that January 2022 activity is nearly equal to January 2020 pre-Covid-19 numbers. Two years ago a, we recorded 672 acts. Given that last year’s numbers were the highest since 2005, the 2020 numbers might provide a better perspective to consider.

The average sale price in January was $553,451 compared to the average sale price of $489,987 last January. The low inventory of properties on the market remains a factor in the number of transactions. Time will tell if inventory increases for the next spring market.

Like the sales figures mentioned above, the mortgage figures also show a reduction in registrations. Plymouth County registered 1,920 mortgages in January, down 43% from the 3,390 mortgages registered in January 2021. Similar to the sales figures, the 1,920 mortgages registered in January 2022 are more comparable to the 1,862 mortgages registered before the Covid-19. January 2020. “It’s clear that people have taken advantage of low interest rates to lower their monthly payments. It’s also clear that you’re reaching a point where most, if not all, have refinanced their mortgages and the refinance market is starting to dry up,” Register Buckley added.

Foreclosures and Notice Orders, January 2021.

With the end of the moratorium on foreclosures, lenders are reactivating their foreclosure services. The number of foreclosure notices is where this is most evident. Foreclosure notices are the first document to come to the court in the foreclosure process. In January 2022, the Plymouth County Deeds Registry recorded 30 foreclosure notices compared to 11 foreclosure notices recorded in January 2021. This represents a whopping 173% increase in filings. The number of January registrations is not as high as the number of pre-Covid-19 registrations, 78 registered in January 2020, but the upward trend is apparent.

Plymouth County recorded 5 foreclosures in January, compared to 6 recorded last January. In January 2020, the Registry registered 25 deeds of foreclosure. “As the process of notifying intent to foreclose progresses, foreclosure deed registrations will increase,” Register Buckley commented.

As part of our ongoing efforts to share some of America’s oldest records with the public, and acknowledging the limitations in place due to the coronavirus, we enclose a copy of a Plymouth Colony court order that “the several townships…should take into serious consideration That…there may be a Scoolmaster sett vp to train vp children in reading and writing. Laws, Part II, p. 87 (1658).

Teacher.

When conditions allow, we will resume our monthly display of these wonderful and historic documents in the Plymouth Colony Archives Reading Room here at the Records Book. In the meantime, please stay safe and healthy.

If you would like to receive a copy of our monthly report by email, please contact Deed Registry Assistant Timothy H. White at [email protected]

All figures are based on sales or mortgages between $25,000 and $3,000,000.

2022 sales volume: 661

2021 sales volume: 708

(7% decrease)

Total value of sales 2022: $365,830,921

Total 2021 sales value: $346,910,759

(5% increase)

2022 average selling price: $553,451

2021 Average Selling Price: $489,987

(13% increase)

Volume of mortgage loans 2022: 1,920

Volume of mortgage loans 2021: 3,390

(43% decrease)

Average mortgage amount 2022: $358,757

Average mortgage amount 2021: $339,536

(6% increase)

Foreclosure deeds 2022: 5

Deeds of foreclosure 2021: 6

(17% decrease)

Notice of Foreclosure 2022: 30

Notice of Foreclosure 2021: 11

(173% increase)

About Mary Moser

Check Also

NYC Real Estate Mania, a new newsletter

In 1969, writer Pete Hamill made a modest proposition on the cover of this magazine: …