During the 1st quarter of 2018, real estate activity in Medway saw decreases in both total sales volume and average sales price.
There was a 1% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Medway during the 1st quarter 2018. 600 land documents were recorded versus 592 during the first quarter 2017.
The total volume of real estate sales in Medway during the 1st quarter 2018 was $17,677,482, an 11% decrease from the same time period in 2017. Also, the average sale price of homes and commercial property decreased 21% in Medway. The average sale price was $401,760.
The number of mortgages recorded (111) on Medway properties during the 1st quarter 2018 was the exact same number recorded the previous year. Total mortgage indebtedness increased 6% to $30,213,030 during the same period.
There were 3 foreclosure deeds filed against Medway properties during the 1st quarter 2018 compared to 1 foreclosure deed filed during the 1st quarter 2017.
Finally, homestead activity decreased 26% in Medway during the 1st quarter 2018 with 43 homesteads filed compared to 58 during the same time period in 2017.