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orfolk County Register of Deeds William P. O'Donnell reported a surge in real estate activity for January 2025, with an overall increase in both deeds and mortgages recorded compared to last year.

    The Registry of Deeds processed 7,807 documents in January 2025, a 4% rise from the same month in 2024 but an 11% decrease from December 2024. "January is typically a slower month for real estate activity," said Register O'Donnell, "but the key statistic to focus on is the year-over-year increase."

    The total number of deeds recorded for January 2025 was 1,152, up 2% from last year but down 16% from December. Commercial and residential sales showed a 5% increase compared to January 2024.

    "The real estate market is showing encouraging signs as we begin 2025," noted Register O'Donnell. "Despite a typical seasonal dip from December, the market is performing decently, particularly in certain neighborhoods and property types."

    The average sale price of commercial and residential properties rose to $1,267,251, a 25% increase compared to January 2024 but a decrease of 28% from December. The total dollar volume of sales increased by 32% from last year.

    Lending activity also saw an uptick in January, with 1,141 mortgages recorded, up 19% from the same month in 2024. Average mortgage interest rates rose to between 6.91% and 7.04%.

    "Mortgage activity saw a notable increase this January compared to last year," said Register O'Donnell. "The uptick in both property sales and mortgage recordings may suggest that potential homebuyers are more willing to enter the market, even with higher interest rates."

    Foreclosure activity decreased in January 2025, with four foreclosure deeds recorded and 20 notices to foreclose filed, compared to 11 and 36 respectively last year.

    "The reduction in foreclosures is good news," said Register O'Donnell. "However, we must remember that foreclosure has a human face associated with it." He urged anyone struggling to pay their mortgage to contact non-profit organizations listed on the Registry's website for assistance.

    The Norfolk County Registry of Deeds partners with Quincy Community Action Programs and NeighborWorks Housing Solutions to help homeowners facing mortgage challenges. Homeowners can also contact the Massachusetts Attorney General's Consumer Advocacy and Response Division for support.

    Register O'Donnell concluded, "The real estate market in Norfolk County is off to a decent start in 2025, with increases in both property sales and mortgage activity compared to last year. This positive trend highlights the attractiveness of our neighborhoods."