Plymouth County Register of Deeds John R. Buckley Jr. reports that while COVID–19 has dramatically affected the area, it has not slowed the real estate market in Plymouth County.
“Based on our recording numbers it appears that lenders, Realtors and closing attorneys have been very busy in Plymouth County,” he added.
There were 1,202 sales in the month of October, the most sales in a month in over two years. The 1,202 sales were 25 percent higher than the 1,055 sales recorded last October, in a coronavirus–free environment. The total number of sales thus far this year, 8,580 now almost equals the 8,693 sales recorded at the ten month mark last year, Buckley noted. The average sales price of the properties sold in Plymouth County this year is $484,602, compared to $439,676 at this time last year. This represents a 10 percent increase.
“Each of the last four months we have reported that Plymouth County recorded more mortgages in a single month in over 10 years. Once again we exceed this historic high,” Buckley said.
Plymouth County recorded 3,447 mortgages this past October compared to 3,261 mortgages recorded last month. Year to date numbers show a 47 percent increase. Through the end of October, Plymouth County recorded 27,416 mortgages compared to the 18,631 mortgages recorded through this time last year.
“The increased sales and the low interest rates continue to drive the mortgage activity,” said Buckley.
In October, with the foreclosure moratorium no longer in effect, Plymouth County recorded 11 foreclosure deeds, compared to 2 foreclosures deeds recorded last month. “With the moratorium no longer in effect, I expect to see a rise in foreclosure activity, commented Buckley. Through the first ten (10) months of the year, Plymouth County recorded 152 foreclosure deeds, representing a 43% decrease from the 268 foreclosure deeds that were recorded through this time last year.
Plymouth County recorded 10 notices initiating a new potential foreclosure in October, bringing the total for the year to 220. Last year at this time 576 notices had been recorded. This represents a 62 percent decrease, largely attributable to the recently concluded moratorium.