By looking at our October and November reports, as we rapidly approach the end of 2014, you can see that the Plymouth County real estate market has seen signs of steady and gradual improvements. Sales of property have been higher than in 2013 by a modest but important 2%. The average sales price is up about 7%, leaving less homes underwater.
Sales activity remained strong during the month of July as 956 deeds were recorded at the Plymouth County Registry of Deeds. The total sales for calendar year 2014 through July was 4,787 deeds, 2% ahead of last year's pace.
The number of mortgages recorded for July reflected an increase in the number of refinances picking up slightly. There were 1,749 mortgages recorded in July, the highest number of mortgages recorded in one month since October, 2013.
As shown in our June Register's Report, the 977 deeds recorded in June show a steady pace of improvement to the Plymouth County real estate market through the first six months of 2014. There have been 3,923 deeds recorded so far in 2014 as compared to 3,785 deeds recorded at this point in 2013. That modest 4% increase is a significant and continuing trend that should carry through for the remainder of 2014.
Our Register's Report for May, 2014 is showing a modest but steady increase in sales activity and few foreclosure filings which is good news for the Plymouth County real estate market. The 2% increase in sales so far this year combined with a 9% increase in average sales value is also positive information.
Only 18 foreclosure deeds were recorded in May, the lowest number in many years. Foreclosure notices, a step in the process to a final foreclosure deed when a lender takes back title from an owner, are down 45% as compared to the first five months of 2013.
Our hoped-for "Spring Market" showed some gradual improvements as evidenced by our April recording numbers for the Plymouth County real estate market, as reported in the April Register's Report.. Through April, sales are up 4 % over last year at this time, resulting in over $63 million in increased sales value.
Despite low interest rates, the refinance market continues to be well below last year's pace, resulting in a 50% downturn in mortgages recorded so far in 2014.