During the 3rd quarter of 2017, real estate activity in Medway saw a decrease in total sales volume but an increase in average sales price.
There was a 17% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Medway during the 3rd quarter 2017. 785 land documents were recorded versus 947 during the third quarter 2016.
The total volume of real estate sales in Medway during the 3rd quarter 2017 was $33,338,981, a 5% decrease from the same time period in 2016. However, the average sale price of homes and commercial property increased 10% in Medway. The average sale price was $438,670.
The number of mortgages recorded (161) on Medway properties during the 3rd quarter 2017 was down 29% from the previous year. Total mortgage indebtedness also decreased 20% to $45,415,899 during the same period.
There was 1 foreclosure deed filed against a Medway property during the 3rd quarter 2017, the same number recorded during the 3rd quarter 2016.
Finally, homestead activity decreased 13% in Medway during the 3rd quarter 2017 with 85 homesteads filed compared to 98 during the same time period in 2016.