As we reported last month, sales volume and housing prices are up over 2016, and mortgages and foreclosure activity are down from last year. Plymouth County Register of Deeds John R. Buckley, Jr. described the year’s real estate sales activity as being modestly better than 2016. Going into 2018, Register Buckley sees the fate of the real estate market will be influenced by the Tax Reform bill, inventory numbers, and interest rates.
“The number of sales in Plymouth County rose 3% over 2016, while foreclosure sales fell 13%,” Buckley reported. The year-end numbers show strength and stability in Plymouth County. Plymouth County recorded 11,063 deeds in 2017, up from 10,785 deeds in 2016.
Property values held steady in 2017, with a modest increase in the average sale price from $369,410 for 2016, to $388,917 for 2017. “The 5% increase in the average price and the increased volume translated into roughly $300 million in additional commerce for Plymouth County,” Register Buckley explained. In 2016, the Registry of Deeds recorded roughly $4 billion in sales. In 2017, that figure rose 8%, to approximately $4.3 billion.
Plymouth County saw a decrease in refinance activity in 2017. The Registry of Deeds recorded 21,315 mortgages, down 11% from the 24,065 mortgages recorded in 2016. “Fewer refinances account for the 11% decline in the number of mortgages we saw in 2016,” commented Register Buckley.
The Registry of Deeds saw improvement in the number of foreclosure sales in 2017. In 2016, Plymouth County recorded 735 foreclosure deeds. That number fell 13% in 2017, to 642. “It is certainly encouraging to see a 3% increase in sales volume while the number of sales taking place through foreclosure fell 13%.” The number of notices initiating new foreclosures also are down compared to 2016. In 2016, there were 1,345 foreclosure notices recorded compared to 1,101 recorded in 2017. This downward trend has resulted in an 18% drop in foreclosure notices recorded in 2016 compared to 2017.
As part of our ongoing effort to share with the public some of America’s most significant documents, on Friday, January 26th, from 9:00 am to 3:00 pm, the Registry will display the original Plymouth Colony Court Order that established the Town of Duxbury. In 1637, the Bradford Court ordered “t is enacted by the Court, that Ducksborrow shall become a township, and vnite together for their better securitie, and to havue the preveledges of a towne; onely their bounds & limits shalbe sett and appointed by the next Court.” Court Orders, Vol. 1, p. 119. The Plymouth Colony Records, Storage and Reading Room is located on the second floor of the Plymouth County Registry building at 50 Obery Street, Plymouth. Call Lorna Green-Baker at (508) 830-9290 for further information.
Finally, Register Buckley recognizes the professional and friendly service of the Registry staff. The Registry recorded 128,285 documents in 2017, down from 133,422 documents recorded in 2016. If you would like to receive a copy of our monthly report by e-mail, please contact Assistant Register of Deeds Timothy H. White at white@plymouthdeeds.org.
REAL ESTATE ACTIVITY FOR CALENDAR YEAR 2017 COMPARED TO THE SAME PERIOD IN 2016
All figures are based on sales or mortgages between $25,000.00 and $3,000,000.
2017 sales volume: 11,063
2016 sales volume: 10,785
(3% increase)
2017 total sales value: $4,302,587,546
2016 total sales value: $3,984,083,550
(8% increase)
2017 average sales price: $388,917
2016 average sales price: $369,410
(5% increase)
2017 mortgage volume: 21,315
2016 mortgage volume: 24,065
(11% decrease)
2017 average mortgage amount: $280,536
2016 average mortgage amount: $277,232
(1% increase)
2017 foreclosure deeds: 642
2016 foreclosure deeds: 735
(13% decrease)
2017 foreclosure notices: 1,101
2016 foreclosure notices: 1,345
(18% decrease)
