It was a banner year for the real estate market in Plymouth County.
“Plymouth County recorded more documents in 2021, than any year since 2005,” reports Register John R. Buckley, Jr.
Plymouth County recorded 164,582 documents, a 10.63 percent increase over the 148,766 documents recorded in 2020.
“Given the COVID-19 environment we live in only makes this accomplishment that more remarkable,” he continued. “Of the documents recorded this year, 10,824 were deeds, compared to 10,694 deeds recorded in 2020, a one percent increase. “
Recordings did slow in the second half of 2021 compared to 2020.
“Although our overall year-end numbers were very strong, Plymouth County recorded fewer deeds and mortgages each month since last August compared to 2020,” noted Buckley.
For example, in December 2021, Plymouth County recorded 991 deeds and 2,714 mortgages. In 2020, Plymouth County recorded 1,157 deeds and 3,517 mortgages.
Property values jumped in 2021, with an increase in the average sale price from $490,653 for 2020, to $549,678 for 2021.
“The 12 percent increase in the average price and the similar volume translated into roughly $800 million in additional commerce for Plymouth County,” Buckley explained. In 2020, the Registry of Deeds recorded roughly $5.2 billion in sales and this year there was almost $6 billion in sales.
The Registry of Deeds recorded 37,213 mortgages in 2021, compared to 34,094 mortgages recorded in 2020.
“Interest rates have remained low, which contributed to the 9 percent increase in the number of mortgages we saw in 2020,” added Register Buckley.
The number of foreclosure deeds recorded in 2021, was significantly less than the number of foreclosure deeds recorded in 2020, in large part due to the federal and state moratoriums on foreclosures. Seventy-five foreclosures were recorded this year while 163 foreclosures were recorded in 2020. There were 221 notices to foreclose, the first step in the foreclosure process recorded in 2021, compared to 250 foreclosure notices recorded in 2020. This represents a 12 percent decrease. With the end of the moratorium foreclosures notices appear to be on the rise, Buckley observed.