2025 real estate market for a promising start in Norfolk County

The judgment register of Norfolk County from Certificate William P. O'Donnell reported that Norfolk County's recordings indicate an increase in the entire real estate active in January 2025 compared to the previous year, including the increase in the total number of deeds and mortgages recorded.

The register of documents recorded 7,825 707 documents in January 2025. This was 4% more than in January 2024, but a decline of 11% compared to December 2024.

“January is usually a slower month for real estate activities compared to December. However, the most important statistics that you have to focus is on the increase in activity compared to the previous year, ”said Norfolk County Register of Deeds William P. O'Donnell. “When comparing the total number of recorded documents from January 2024 to January 2025, by 4%. This is a promising start to the year compared to the beginning of last year. “

The total number of documents recorded for January 2025, which are reflected in both commercial and residential property sales and transfers, was 1,152 compared to 2% compared to January 2024, but around December 2024. In this January, 508 commercial and residential properties, which during The month of sold real estate is sold compared to 5% compared to January 2024.

“The real estate market shows encouraging signs at the beginning of 2025. In January, both commercial and living sales and transfers showed growth compared to the previous year,” stated register O'Donnell. “Despite a typical seasonal waste from December, the real estate market decreases properly , especially in certain districts and ownership types in regional communities. ”

The average sales price of commercial and residential property for January 2025 rose to $ 1,267,251, an increase of 25% compared to January 2024, a decrease of 28% compared to December 2024. The total volume of total sales of advertising and residential buildings increases and increased around the sales of housing companies. 32% compared to the previous year, but by 46% compared to the previous month.

“Thanks to the lively communities and the committed efforts of urban employees and managers, Norfolk County is undoubtedly a sought -after place for life and work,” noted Register O'Donnell. “However, since the limited real estate inventory is unable to satisfy a high demand, many would agree that the market is the challenges for buyers, especially those who buy their first house.”

In January, creditness rose compared to the same month ago. In January 2025, a total of 1,141 mortgages were recorded, compared to 19% compared to January 2024, but around December 2024. According to the Federal Home Loan Mortgage Corporation, the average mortgage was between 6.62% and 6.69% in January 2024. In January 2025 they were between 6.91% and 7.04%.

“Despite an increase in the average mortgage interest compared to January 2023, mortgage activity recorded a remarkable increase in January compared to the previous year,” noted Register O'Donnell. “The increase in both the sales and mortgage recordings of real estate could indicate that potential buyers are more willing to enter the market, even with higher mortgage interests than in previous years.”

The Norfolk County Registry of Deeds has carefully monitored the enforcement market. In January 2025, 4 enforcement certificates were recorded in Norfolk County, which were recorded in January 2024, less than the 36 recorded in January 2024.

“There is no question that this reduction in foreclosure and references to foreclosure is good news. Nevertheless, we cannot forget that foreclosure activity is a human face connected to it, and there are still a number of our neighbors who have lost their houses, and even more are dangerously close to losing their houses, ”said Register O ' Donnell. “I would ask anyone who is fighting to pay his mortgage or who knows someone who tries to contact one of the non -profit organizations listed on our website, www.norfolkdedens.org.”

In recent years, the Norfolk County Registry of Deeds has worked together with Quincy Community Action Programs (617-479-8181 x376) and neighboring works Housing Solutions (508-587-0950) to help others face challenges that their Pay mortgage. Another option for homeowners is to contact the consumer interest representation and card (Massachusetts General Prosecutor) under number 617-727-8400.

Register O'Donnell came to the conclusion: “The real estate market in Norfolk County has a reasonable start in 2025 compared to the previous year with increasing sales with real estate and mortgages. Growth per year underlines the attractiveness and the living nature of our neighborhoods. This positive trend is encouraging for the future of our local real estate market. We look forward to further growth and prosperity in the coming months. “