Greetings!
Summer is finally here and with it an improved local real estate market! As you will see, the Hingham market continues to stabilize and all indications are for 2010 to show marked improvement over 2009. If you are a buyer, now is still a good time to enter the market. Interests rates are at all time lows as you will see in the Today's Rates section. If you are a seller and have been holding off a move, now might be the right time.
As always if you have any questions about the local real estate market or would like to discuss purchasing or selling a home, I am just a phone call or a click away.
Sincerely,
Pamela BatesColdwell Banker Residential Brokeragec: 617-240-1292
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Hingham Q1/Q2 2010 Summary
Continued Improvement
Sales results during the first half of 2010 showed significant improvement over the same period in 2009. In Hingham, single family home sales were just shy of $70 million during the Q1/Q2 which is up 35% from the same period in 2009. This consisted of 92 homes sold, up 30% from 2009. The average days on the market also showed improvement with an average of 113 days, a 35% reduction from the same period in 2009. The sales price to listing price ratio has also improved to 95%, meaning that buyers and sellers perspective of value is closer now than in the past. Finally and perhaps most importantly, median home price increased by 4.0% to $618,000. This is the first time I have reported an increase in median home price!
It appears, at least locally, that the economic recovery is starting to take hold. As I reported in last quarter's newsletter, typically real estate recoveries begin with improved overall sales statistics with median/average home sales price gradually increasing over time.
Hingham Median Home Sales Price 2000-2010
Median home sale price in Hingham during the past 10 years has ranged from $412,000 in 2000 to a high of $665,000 in 2005. The current median home sales price is $618,000 or 7.5% off the high in 2005. Q1/2 2010 showed 4.0% growth in median home sales price over the same period in 2009.
A Sampling of Hingham Home Sales Q2 2010
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Address |
Sale Price |
Days on the Market |
Cost per Square Foot | |
33 Kimball Beach Road |
$262,500 |
109 |
$144 | |
44 Liberty Pole Road |
$360,000 |
92 |
$254 | |
17 Simmons Road |
$412,000 |
133 |
$296 | |
295 Cushing Street |
$420,000 |
136 |
$262 | |
44 Smith Road |
$487,000 |
26 |
$320 | |
249 Central Street |
$560,000 |
88 |
$380 | |
90 Cross Street |
$649,900 |
11 |
$351 | |
178 North Street |
$655,000 |
547 |
$186 | |
715 Main Street |
$712,500 |
46 |
$375 | |
182 South Street |
$769,000 |
21 |
$326 | |
102 East Street |
$810,000 |
154 |
$257 | |
37 Fearing Road |
$825,000 |
196 |
$371 | |
675 Main Street |
$895,000 |
201 |
$208 | |
20 Franklin Rogers Road |
$1,099,000 |
5 |
$329 | |
38 Cottage Street |
$1,000,000 |
148 |
$257 | |
93 Main Street |
$1,350,000 |
273 |
$270 | |
4 Jarvis Ave |
$1,375,000 |
300 |
$341 | |
50 Pleasant Street |
$1,656,000 |
145 |
$338 | |
608 Main Street |
$2,125,000 |
99 |
$496 | |
186 Otis Street |
$2,475,000 |
48 |
$386 |
If you would like information on a specific property not listed, please contact me.
Source: Multiple Listing Service Property Information Network, Inc.
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South Shore Single Family
Market Statistics
South Shore single family statistics
January - June 2010
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Town |
Median Sales
Price |
% change
from Jan-June 2009 |
Average Days
on Market |
Number of
Units Sold | |
Cohasset |
$765,000 |
19.0% |
207 |
37 | |
Hingham |
$618,000 |
4.0% |
113 |
92 | |
Norwell |
$527,000 |
(8.0%) |
153 |
51 | |
Scituate |
$432,000 |
(3.0%) |
145 |
92 |
Source: Multiple Listing Service Property Information Network, Inc. |
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| Your real estate resource
Coldwell Banker Residential Brokerage
56 South Street
Hingham, MA 02043
c: 617 240-1292
o: 781 749-4300
vm/fax: 781 210-0227
www.newenglandmoves.com/Pamela.Bates
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| Featured Article |
As reported on Boston.com
June 18.2010...
Rising Confidence in South Shore housing markets in May
In May, year-to-year sales were up 68% in Hingham, but fairly even in Norwell and Scituate. Sales in all three communities rose sharply from six months earlier. The overall good news is that both Plymouth County and The Greater Boston Market are both "up" compared with six months ago, 22% and 34% respectively. The trend is positive and we feel it will
continue. | |
| Today's Rates |
Interested in finding out about mortgage rates?
Kevin Byrne, Coldwell Banker's full-time senior mortgage specialist can recommend a mortgage plan to fulfill your needs.
As of 7.15.2010 the following rates are available:
-30 year fixed: 4.375% + 0 points
-15 year fixed: 3.875% + 0 points WOW!
Other rate and point options available.
Kevin reports that rates are still at their recent all time low so NOW is an excellent time to secure that fixed, low interest rate loan!
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