Greetings!
Welcome to winter! It is hard to believe the photograph above and my portrait to the right were taken at the same location, just 6 months apart! Winter is upon us and I can report encouraging news for the local real estate market. 2010 proved to be a far better year than 2009 on all accounts. For this newsletter I have provided "Fast Facts" below for those who prefer just the numbers and I have also provided an analysis below.
If you are a buyer, now is a good time to enter the market. Many think spring is the best time to buy but I believe it is better to purchase before a large buyer pool might be competing for a particular home. Educate yourself on the market so you will know when a property is a good value. Interests rates are still unusually low as you will see in the Today's Rates section. If you are a potential seller, now might be the right time before the "spring market" when typically an abundance of homes are listed. It is far better to be one of a handful of available listings rather than competing with dozens of other properties.
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,
Pam Bates
Coldwell Banker Residential Brokerage
c: 617-240-1292
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Just The Facts Please | |
2010 Hingham Real Estate Fast Facts | |
If you are just looking for the facts, here are the 2010 vs 2009 statistics.
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Homes Sold |
2009 |
2010 |
%
Change | |
Total
Sales |
$135,881,254 |
$167,210,666 |
+23.1% | |
# of Homes
Sold |
189
|
217 |
+14.8% | |
Days on
the Market |
151 |
109 |
-38.5% | |
Median Sale
Price |
$599,900 |
$670,000 |
+11.7% | |
Sales to List
Price Ratio |
95% |
95% |
-0- | |
Current
Inventory |
1/4/2010 |
1/4/2011 |
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# of Homes
on the Market |
77 |
87 |
+13.0% | |
Months of
Supply |
3.8 |
2.4 |
-58.3% | |
Days on
the Market |
296 |
207 |
-43% |
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Source: Multiple Listing Service Property Information Network, Inc
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Hingham Real Estate 2010 Year End Summary |
Continued Improvement .
Sales results during 2010 showed significant improvement over 2009. In Hingham, single family home sales totaled over $167 million for 2010 which is up over 23% from the same period in 2009. This consisted of 217 homes sold, up almost 15% from 2009. The average days on the market also showed improvement with an average of 109 days, a 38% reduction from the same period in 2009. The sales price to listing price ratio was consistent from 2009 to 2010 at 95%. Finally and perhaps most importantly, median home price increased by 11.7% to $670,000! This is just slightly higher than our median home price for the peak year of 2005. Despite the negative growth statistics communicated both nationally and locally, Hingham's home values are starting to rebound. As I reported for the last two quarters, typically real estate recoveries begin with improved overall sales statistics with median/average home sales price gradually increasing over time. However, the key to successfully selling a home in this market is proper pricing and broad exposure to the prospective buyer pool.
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 $670,000 in 2010! Prior to 2010, the highest median home value was in 2005 at $665,000. Last year showed 11.7% growth in median home sales price over the same period in 2009. Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q4 2010
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Address |
Sale Price |
Days on
the Market |
Cost per
Square Foot | |
4 Bayberry Road |
$337,500 |
114 |
$209 | |
334 Gardner Street |
$445,000 |
144 |
$289 | |
10 Burr Road |
$475,000 |
55 |
$323 | |
18 Towerbrook Rd |
$484,000 |
27 |
$313 | |
9 Green Street |
$545,000 |
13 |
$329 | |
43 South Pleasant St. |
$570,000 |
32 |
$283 | |
2 King Philip Path |
$604,000 |
185 |
$210 | |
19 Longmeadow Rd |
$679,916 |
100 |
$274 | |
18 Downing Street |
$845,000 |
60 |
$307 | |
45 Irving Street |
$867,500 |
181 |
$311 | |
49 Bel Air Road |
$970,000 |
70 |
$303 | |
47 Lazell Street |
$1,048,850 |
257 |
$288 | |
29 Pleasant Street |
$1,050,000 |
1 |
$357 | |
4 Franklin Rogers |
$1,152,000 |
184 |
$284 | |
5 Indian Rock Lane |
$1,175,000 |
242 |
$220 | |
23 Thompson Avenue |
$1,200,000 |
17 |
$424 | |
47 Otis Hill Road |
$1,280,000 |
20 |
$367 | |
30 Maryknoll Drive |
$1,315,000 |
211 |
$256 | |
14 Franklin Rogers Rd |
$1,405,000 |
83 |
$350 | |
2 Brandon Woods Cir. |
$1,435,000 |
49 |
$266 | |
153 Otis Street |
$1,450,000 |
29 |
$650 | |
147 Otis Street |
$1,570,000 |
473 |
$449 | |
129 Popes Lane |
$1,612,500 |
198 |
$229 |
If you would like information on a property that is not listed, please contact me.
Source: Multiple Listing Service Property Information Network Inc.
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Your real estate resource
Pamela Bates
Coldwell Banker Residential Brokerage
56 South Street
Hingham, MA 02043
c: 617 240-1292
o: 781 749-4300
vm/fax: 781 210-0227
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What is my House Worth? |
If you are interested in finding out the value of your home, I can provide you with a Complimentary Market Analysis. Likewise, if you know of someone who might be interested in making a change, I welcome all referrals.
If you are contemplating a move out of this area, I can also provide you with a referral to a knowledgeable Coldwell Banker relocation expert in the market of your relocation.
Pam Bates
c: 617 240-1292
Referrals always welcome and appreciated! |
| South Shore Single Family Market Statistics |
South Shore single family statistics
January-December 2010
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Town |
Median
Sales Price |
% change
from 2009 |
Avg.
Days on
Market |
# of
Units
Sold | |
Cohasset |
$765,000 |
12.2% |
165 |
83 | |
Hingham |
$670,000 |
11.7% |
109 |
217 | |
Norwell |
$531,000 |
3.1% |
158 |
90 | |
Scituate |
$450,000 |
2.3% |
144 |
192 |
The Hingham and Cohasset markets continue to improve significantly from 2009 to 2010. Norwell and Scituate markets are a little slower to rebound.
Source: Multiple Listing Service Property Information
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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 1/7/11 the following rates are available:
- 30 year fixed: 4.875% +
0 points -30 year Jumbo fixed: 5.25% + 0 points -15 year fixed: 4.5% + 0 points WOW!
Other rate and point options available.
Kevin reports that rates continue at their unprecedented lows so NOW is an excellent time to secure that fixed, low interest rate loan! Kevin can be reached via email or at 781 718-3366
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| Useful Resources | |
Social Media
You can find me on Facebook at PamelaBatesRealtor
As well as on LinkedIn
Other Resources
Have you visited New England's #1 real estate website? Click below for Coldwell Banker's regional website, NewEnglandMoves.com
NewEnglandMoves.com
Mortgage Calculator
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 Happy New Year from Coldwell Banker, the #1 real estate office in Hingham!
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