State of the Market Report ๐ March 2020
We like to keep you informed of the local real estate market to ensure you're well prepared when you need to make the decision whether or not now is a good time to buy or sell your home.
Below is a list of the local South Shore & Cape Cod market reports for March โคต๏ธ
In the Town of Plymouth, sales have increased from February to March. Buyers are still actively securing homes despite the necessary precautions put into place during the COVID-19 pandemic.
Homes are still entering the market as we continue into the Spring market and they're spending significantly less time on the market than they were in previous months. Average Sale Prices are remaining consistent month over month.
In the Town of Hingham, the market has remained consistent from February through March. The Average Days on Market have decreased as we entered into the beginning of the Spring market. The Average Sale Price of homes sold in March remained at $1.1M which tells us that home values are remaining strong.
In the Town of Scituate, the Average Sale Price increased by $138,000 in March. Homes are selling much faster as we entered into the Spring market, down from 124 average days in February. The number of homes SOLD doubled in March which shows that buyers are ready, willing and able to purchase.
In the Town of Marshfield, the Average Sale Price of homes sold has increase by nearly $40,000. Properties are still selling at the same pace - within 4 months of listing on the open market. Home Sales and new homes entering the market have remain consistent month over month indicating a steady market.
In the Town of Kingston, available inventory has increased slightly however there has been no significant changes. The Average Days that homes spent on the market decreased which tells us that Buyers are serious and ready to purchase. The Average Sale price increased from the low $400,000s in February.
In the Town of Duxbury, the Average Sale Price of homes increased from $616k in February to $867k in March. Available Inventory increased slightly while the Average Days on Market decreased from117 to 87 in March. This indicates that buyers are serious and property values have increased as the Spring market begins.
In the Town of Norwell, the Average Days on Market decreased showing a strong sellers market however there is a lack of inventory as we're entering into the Spring market. The Average Sale Price has remained steady month over month.
In the Town of Cohasset, the Average Sale Price has continued to remain in the million dollar bracket with more homes SOLD in March vs. February. The Average Days on Market have decreased slightly however the market is still moving at a slower pace than surrounding towns.
In the Town of Hanover, the number of homes SOLD have increased slightly in March. The Average Days on Market significantly increased from 39 in February to 136 in March which indicates a much slower market in March. The Average Sale Price increased by $182,000 vs. February which could have been a cause for the slower market.
In the Town of Pembroke, the amount of new offerings in the last 30 days have remained fairly consistent however there are not a lot of total offerings available at this time. The Average Days on Market increased by 28 days since February. The Average Sale Price has remained consistently in the mid $400,000s.
In the Town of Hull, the number of homes SOLD increased in March which tells us that Buyers were serious however with a lack of inventory, homes remained on the market for a longer period. The Average Sale Price has decreased by over $100k in March.
In the Town of Bourne, the amount of available inventory has increased which shows us that homes are still actively entering the market. The number of homes SOLD has also slightly increased in March. The Average Sale Price has gone up from $484k. The Average Days on Market have increased which shows that homes are spending a longer amount of time on the market as this point in time.
In the Town of Sandwich, the Average Days on Market have increased as well as the number of homes SOLD. The Average Sale Price has remained fairly consistent from February through March. Available inventory has increased indicating that Sellers are motivated and ready to make their next move.
In the Town of Mashpee, the Average Sale Price has continued to increase month over month. The Average Days on Market decreased which indicated that properties are selling at a faster rate than they did in February. Property sales doubled in March indicating that Buyers are ready to purchase in the Mashpee market.
In the Town of Falmouth, the Average Sale Price has more than doubled month over month, hitting the million dollar bracket. There were more homes entering the market in the month of March as the Spring market began. The number of homes SOLD also increased indicating a good start to the Spring market.
In the Town of Chatham, home sales increased during the month of March. The Average Sale Price has risen back into the million dollar bracket as the month of March came to an end. The Average Days on Market increased which is likely when the sale prices rise into an entirely new bracket. Chatham is seeing a consistent amount of new homes entering the market month over month as well.
In the Town of Yarmouth Port, property sales are up by more than 50% in March. The Average Days on Market have increased significantly since February. The current available inventory has remained consistent month over month.
