State of the Market - Plymouth County, MA

[Charlie MacPherson]

The numbers are out for Q4, 2018 and the results (vs Q4 2017) show:

• Median Sales Price: $375,000 - up 5.0%
• Average Sales Price: $443,555 - up 2.8%
• % of Original Price Received: 96% - down 0.5%
• # of Home for Sale: 1,136 - down 13.4%
• Closed Sales: 1,522 - down 2.2%
• Months Supply: 2.2 - down 12.7%
• Days on Market: 61 - down 3.2%

Translation:  

Prices are up, but the rate of price increases is slowing down.  

There's a bit more wiggle room in asking prices, but still not a lot.  That's because...

At 2.2 months supply, there is still a massive shortage of homes for sale.  Anything less than 6 months is a seller's market.  2.2 months means that sellers, not buyers are in the driver's seat.

Homes are selling a bit faster at 61 DOM on average.  That's measured from the listing date to closing date and most lenders take about 45 days to close on a loan.