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Your Town: 2014 Plymouth Real Estate Market Report

Want to know how the Plymouth, Massachusetts real estate market is doing?  Today we’re going to talk about home sales in Plymouth in 2014 versus 2013, along with how the towns along its borders did, as well as what’s currently on the market in town right now.

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2013 vs. 2014 in Plymouth:

Overall, the housing market remained relatively strong in Plymouth in 2014, with a total of 820 homes sold at an average sale price of $311,156.  (These numbers include single-family homes, condominiums, and multi-family homes.)  That meant a nice bump in the overall average home price, with homes selling for 5% more on average than in 2013 — impressive when you consider that 11 fewer homes sold in 2014 than in 2013, and continuing to show that Plymouth remains a desirable place to live.

Breaking down those numbers:

  • Single-Family Homes: 633 sold in 2014 versus 621 in 2013, for an average price of $338,798 which is a nice increase from the previous year’s average of $312,130.
  • Condominiums: 171 condos sold in 2014 versus 203 in 2013 at an average price of $297,114, a bump from the 2013’s average of $287,400.
  • Multi-Family: 16 homes sold in 2014, as opposed to 13 in 2013. The average sale price in 2014 was $297,556, up nicely from the previous year’s average of $287,700.

Next, looking at the towns that Plymouth shares a border with, we see that the town’s single-family homes remain affordable compared to Sandwich and Kingston, where a single-family home can cost up to $20,896 more when you look at average sale prices (see graphic above for a breakdown by town).  Plympton, Carver, and Wareham come underneath Plymouth’s average prices by anywhere from 14-33% less for a single-family home.

Plymouth, Right Now

As of today, February 18, 2015, there are 233 single-family homes on the market in Plymouth, with an average listed price of $466,931.  89 condominiums join them, with an asking price of $369,255, and there are currently 9 multi-family homes on the market with an average desired price of $505,288.  That is a total of 331 homes on the market, as compared with 338 on the market one year ago today.

Overall, these numbers show that Plymouth retains its reputation as a desirable location to purchase a home in. With interest rates in the 3.5% range right now, and very few houses on the market in Plymouth, there are positives for both buyers and sellers — buyers can take advantage of the lower interest rates, and sellers benefit from there being a lower supply, which has resulted in higher prices in many cases.

With inventory sure to rise after the current winter storms subside, now is the time to list your home if you are considering doing so, especially since housing inventories are at their lowest levels in 11 years.

Town Profile

Plymouth is the largest town in Massachusetts in terms of its geographic size, and was settled in 1620, with a current population of 56,468 as of the 2010 US Census. It is well-known throughout the United States as one of the original settlements in the country, at Plimouth Plantation, and multiple historically-significant sites such as Plymouth Rock are located within the town’s borders, along with having served as the location for the First Thanksgiving feast.  Located off of Routes 3 and 44, Plymouth is a great commuter location for those looking to work in nearby Boston or Providence, Rhode Island, and has many open spaces, public beaches, and dining and shopping opportunities, making it a highly desirable place to live.

We have been selling homes in Plymouth for many years.  Anthony Lamacchia did a news segment there with Fox 25 on a Zip trip back in the summer of 2013.  To see the segment please click here: Zip Trip in Plymouth.

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