During the 1st quarter of 2019, real estate activity in Medway saw increases in both total sales volume and average sales price.
There was a 9% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Medway during the 1st quarter 2019. 653 land documents were recorded versus 600 during the first quarter 2018.
The total volume of real estate sales in Medway during the 1st quarter 2019 was $26,517,342, a 50% increase from the same time period in 2018. Also, the average sale price of homes and commercial property increased 29% in Medway. The average sale price was $519,947.
The number of mortgages recorded (106) on Medway properties during the 1st quarter 2019 was down 5% from the 1st quarter 2018. However, total mortgage indebtedness increased 189% to $87,371,276. This figure was impacted by a $55.2 million mortgage recorded on 1/3/19.
There were 0 foreclosure deeds filed against Medway properties during the 1st quarter 2019 compared to 3 foreclosure deeds filed during the 1st quarter 2018.
Finally, homestead activity increased 16% in Medway during the 1st quarter 2019 with 50 homesteads filed compared to 43 during the same time period in 2018.