For more information, please contact Lorna Green-Baker at Register Buckley’s office (508) 830-9298
JOHN R. BUCKLEY, JR., REGISTER OF DEEDS
PLYMOUTH COUNTY REAL ESTATE ACTIVITY FOR
APRIL 2012
ENCOURAGING SIGNS FOR REAL ESTATE MARKET CARRY INTO SECOND QUARTER
As the first month of the second quarter of 2012 came to a close, Plymouth County Register of Deeds John R. Buckley reported continuing signs of encouragement for the Plymouth County real estate market.
Plymouth County recorded 608 sales in April, bringing the year-to-date total to 2,205. “That’s a 15% increase in sales volume over the first four months of 2011,” Buckley noted. “The significance of that trend is not simply that there is an increase in volume, but that it has been sustained over a four-month period.”
Refinance activity is also on the rise in 2012. The Registry of Deeds recorded 2,254 mortgages in April, bringing the total through the first four months of the year to 8,375. “In 2011, we recorded 6,640 mortgages over the course of the first four months,” Buckley reported. “We are looking at a 23% increase in volume for that period this year.”
The upward trend is encouraging, as the industry heads into an active spring market. “We typically see an increase in sales volume over the next few months,” Buckley explained. With interest rates where they are presently, it would be reasonable to expect refinances to continue at their current pace in the weeks ahead. This is particularly encouraging as this time last year, the refinance market had slowed considerably. By way of example, while Plymouth County recorded 2,254 mortgages in April of this year, it saw only 1,393 mortgages in April of 2011. “We need to keep in mind that we cannot predict any sort of trend based on a single month’s activity, but a 62% jump in volume for the month of April is certainly a positive sign,” Buckley noted.
As with sales and mortgages, foreclosures are also taking place with greater frequency in 2012. “We are seeing more foreclosures at this point of the year than we were last year, but we are also seeing a decline in the pace at which foreclosure deeds and notices are being recorded over the last two months,” Buckley explained. Plymouth County recorded 82 foreclosure deeds in April, bringing the total for 2012 to 373. “We have a 31% increase in foreclosure deeds in comparison to this time last year,” Buckley reported, “but volume has been trending downward since February.” At the end of the first two months of 2012, Plymouth County was looking at a 43% increase over 2011 volume. “Seeing that figure fall from 43% to 31% in a two-month period does provide some encouragement.”
The same is true, to a more dramatic degree, with respect to notices initiating new foreclosure proceedings. Plymouth County recorded 699 notices through the first four months of 2012, up 10% from the 636 notices recorded during the same period in 2011. Buckley nevertheless finds cause for cautious optimism. “We need to bear in mind that the percentage increase in volume in comparison to 2011 was 83% at the end of January. That number then dipped to 78% at the two-month mark and 51% at the end of the first quarter,” Buckley explained. “At the four-month mark, we are looking at a much more modest 10% increase in the number of foreclosure notices in comparison to 2011. That is a pretty significant downward trend. I think we can draw some encouragement from that.”
If you would like to receive a copy of our monthly report by e-mail, please contact Assistant Register of Deeds Michael P. Holden at holden@plymouthdeeds.org.
REAL ESTATE ACTIVITY THROUGH APRIL 2012
COMPARED TO THE SAME PERIOD IN 2011
All figures are based on sales or mortgages between $25,000.00 and $3,000,000.
2012 sales volume: 2,205
2011 sales volume: 1,917
(15% increase)
2012 total sales value: $625,852,491
2011 total sales value: $558,262,201
(12% increase)
2012 average sales price: $283,833
2011 average sales price: $291,217
(3% decrease)
2012 mortgage volume: 8,365
2011 mortgage volume: 6,640
(26% increase)
2012 average mortgage amount: $242,850
2011 average mortgage amount: $248,043
(2% decrease)
2012 foreclosure deeds: 373
2011 foreclosure deeds: 285
(31% increase)
2012 foreclosure notices: 699
2011 foreclosure notices: 636
(10 % increase)
Foreclosures and Orders of Notice by Town
April 2012
Town
Foreclosure Deeds
Orders of Notice
ABINGTON
2
3
BRIDGEWATER
0
0
BROCKTON
28
33
CARVER
4
6
DUXBURY
0
1
EAST BRIDGEWATER
7
3
HALIFAX
2
2
HANOVER
1
3
HANSON
0
2
HINGHAM
0
2
HULL
1
2
KINGSTON
3
2
LAKEVILLE
2
1
MARION
MARSHFIELD
0
3
1
9
MATTAPOISETT
MIDDLEBORO
2
3
0
6
NORWELL
1
2
PEMBROKE
1
5
PLYMOUTH
6
15
PLYMPTON
ROCHESTER
2
0
0
0
ROCKLAND
2
3
SCITUATE
0
3
WAREHAM
6
12
WEST BRIDGEWATER
0
0
WHITMAN
4
3
ENCOURAGING SIGNS FOR REAL ESTATE MARKET CARRY INTO SECOND QUARTER
As the first month of the second quarter of 2012 came to a close, Plymouth County Register of Deeds John R. Buckley reported continuing signs of encouragement for the Plymouth County real estate market.
Plymouth County recorded 608 sales in April, bringing the year-to-date total to 2,205. “That’s a 15% increase in sales volume over the first four months of 2011,” Buckley noted. “The significance of that trend is not simply that there is an increase in volume, but that it has been sustained over a four-month period.”
Refinance activity is also on the rise in 2012. The Registry of Deeds recorded 2,254 mortgages in April, bringing the total through the first four months of the year to 8,375. “In 2011, we recorded 6,640 mortgages over the course of the first four months,” Buckley reported. “We are looking at a 23% increase in volume for that period this year.”
The upward trend is encouraging, as the industry heads into an active spring market. “We typically see an increase in sales volume over the next few months,” Buckley explained. With interest rates where they are presently, it would be reasonable to expect refinances to continue at their current pace in the weeks ahead. This is particularly encouraging as this time last year, the refinance market had slowed considerably. By way of example, while Plymouth County recorded 2,254 mortgages in April of this year, it saw only 1,393 mortgages in April of 2011. “We need to keep in mind that we cannot predict any sort of trend based on a single month’s activity, but a 62% jump in volume for the month of April is certainly a positive sign,” Buckley noted.
As with sales and mortgages, foreclosures are also taking place with greater frequency in 2012. “We are seeing more foreclosures at this point of the year than we were last year, but we are also seeing a decline in the pace at which foreclosure deeds and notices are being recorded over the last two months,” Buckley explained. Plymouth County recorded 82 foreclosure deeds in April, bringing the total for 2012 to 373. “We have a 31% increase in foreclosure deeds in comparison to this time last year,” Buckley reported, “but volume has been trending downward since February.” At the end of the first two months of 2012, Plymouth County was looking at a 43% increase over 2011 volume. “Seeing that figure fall from 43% to 31% in a two-month period does provide some encouragement.”
The same is true, to a more dramatic degree, with respect to notices initiating new foreclosure proceedings. Plymouth County recorded 699 notices through the first four months of 2012, up 10% from the 636 notices recorded during the same period in 2011. Buckley nevertheless finds cause for cautious optimism. “We need to bear in mind that the percentage increase in volume in comparison to 2011 was 83% at the end of January. That number then dipped to 78% at the two-month mark and 51% at the end of the first quarter,” Buckley explained. “At the four-month mark, we are looking at a much more modest 10% increase in the number of foreclosure notices in comparison to 2011. That is a pretty significant downward trend. I think we can draw some encouragement from that.”
If you would like to receive a copy of our monthly report by e-mail, please contact Assistant Register of Deeds Michael P. Holden at holden@plymouthdeeds.org.
REAL ESTATE ACTIVITY THROUGH APRIL 2012
COMPARED TO THE SAME PERIOD IN 2011
All figures are based on sales or mortgages between $25,000.00 and $3,000,000.
2012 sales volume: 2,205
2011 sales volume: 1,917
(15% increase)
2012 total sales value: $625,852,491
2011 total sales value: $558,262,201
(12% increase)
2012 average sales price: $283,833
2011 average sales price: $291,217
(3% decrease)
2012 mortgage volume: 8,365
2011 mortgage volume: 6,640
(26% increase)
2012 average mortgage amount: $242,850
2011 average mortgage amount: $248,043
(2% decrease)
2012 foreclosure deeds: 373
2011 foreclosure deeds: 285
(31% increase)
2012 foreclosure notices: 699
2011 foreclosure notices: 636
(10 % increase)
Foreclosures and Orders of Notice by Town
April 2012
|
Town |
Foreclosure Deeds |
Orders of Notice |
|
ABINGTON |
2 |
3 |
|
BRIDGEWATER |
0 |
0 |
|
BROCKTON |
28 |
33 |
|
CARVER |
4 |
6 |
|
DUXBURY |
0 |
1 |
|
EAST BRIDGEWATER |
7 |
3 |
|
HALIFAX |
2 |
2 |
|
HANOVER |
1 |
3 |
|
HANSON |
0 |
2 |
|
HINGHAM |
0 |
2 |
|
HULL |
1 |
2 |
|
KINGSTON |
3 |
2 |
|
LAKEVILLE |
2 |
1 |
|
MARION MARSHFIELD |
0 3 |
1 9 |
|
MATTAPOISETT MIDDLEBORO |
2 3 |
0 6 |
|
NORWELL |
1 |
2 |
|
PEMBROKE |
1 |
5 |
|
PLYMOUTH |
6 |
15 |
|
PLYMPTON ROCHESTER |
2 0 |
0 0 |
|
ROCKLAND |
2 |
3 |
|
SCITUATE |
0 |
3 |
|
WAREHAM |
6 |
12 |
|
WEST BRIDGEWATER |
0 |
0 |
|
WHITMAN |
4 |
3 |
