During the 3rd quarter of 2017, real estate activity in Quincy saw decreases in both total sales volume and average sales price.
There was an 11% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the city of Quincy during the 3rd quarter 2017. 4,149 land documents were recorded versus 4,654 during the third quarter 2016.
The total volume of real estate sales in Quincy during the 3rd quarter 2017 was $236,753,889, a 30% decrease from the same time period in 2016. Also, the average sale price of homes and commercial property decreased 28% in Quincy. The average sale price was $530,838.
The number of mortgages recorded (807) on Quincy properties during the 3rd quarter 2017 was down 17% from the previous year. However, total mortgage indebtedness increased 314% to $2,071,730,890 during the same period. This number was impacted by a 1.6 billion commercial mortgage recorded against property in Quincy and Weymouth in July, 2017.
There were 4 foreclosure deeds filed against Quincy properties during the 3rd quarter 2017 compared to 9 foreclosure deed filings during the 3rd quarter 2016.
Finally, homestead activity increased 6% in Quincy during the 3rd quarter 2017 with 397 homesteads filed compared to 373 during the same time period in 2016.