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Greetings!
Greetings all~ Here we are in October, and I must admit the fall is my favorite season in New England. Warm days and cool nights, lots of sun (and a few rainy days too) but overall pretty delightful.
Unfortunately the real estate results to date are sluggish with overall results off from a year ago. However, there are some encouraging trends, particularly in the area of median sale price. For this newsletter I have again provided "Fast Facts" below for those who prefer just the numbers and I have also provided an analysis as well.
There are still properties coming on the market so if you are a buyer, keep looking. Fortunately interest rates are still amazingly low as you will see in the Today's Rates section. If you are a potential seller, consider listing your home this fall before the winter starts in earnest. Buyers are still shopping for homes in Hingham.
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 | |
Q1-3 2011 Hingham Real Estate Fast Facts
If you are just looking for the facts, here are the Q1-3 2010 vs Q 1-3 2011 statistics.
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Homes Sold |
Q 1-3 2010 |
Q1-3 2011 |
%
Change | |
Total Sales |
$152,262,041 |
$132,906,916 |
(14.5%) | |
# of Homes
Sold |
209 |
187 |
(11.8%) | |
Days on
the Market |
113 |
139 |
23% | |
Median Sale
Price |
$625,000 |
$640,000 |
2.4% | |
Sales to List
Price Ratio |
96% |
96% |
0.0% | |
Current
Inventory |
10/5/2010 |
10/5/2011 |
| |
# of Homes
on the Market |
228 |
229 |
0.4% | |
Months of
Supply |
10.3 months |
10.3 months |
0.0% | |
Days on
the Market |
181 |
158 |
(14.6%) |
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Q1-3 2011 Summary | |
Sales Results are Sluggish
Q1-3 2011 results are off from Q1-3 results in 2010. In Hingham single family home sales totaled over $152 million 2010 versus $132 million for the same period in 2011. This is a reduction of approximately 14.5% vs. the prior year. In 2010 there were 209 homes sold during Q1-3 2011 vs 187 in 2011. This is a reduction of 11.8%. It is worth noting that in Q1-Q2 2010 there were still government home buying incentives in place which fueled some of our sales, particularly for first time home buyers.
In Q1-3 2011 the average days on the market days was 139 days, which is an increase of 23% from the previous year. The sales price to listing ratio is stable at 96% Finally and perhaps most importantly, the median home price increased from Q1-3 2010 to Q1-3 2011 by 2.4% to $640,000!
While Q1-3 results are sluggish, it still appears that Hingham home values have stabilized. Inventory levels are the same as compared to the same period in 2010. This is a 10+ month supply of inventory. Typically real estate experts consider it to be a balanced market when there is a 6 month inventory available. At this point, the scale is still tipped in the direction of a buyer's market. While national sales figures are showing signficant decline in home values, our local real estate market is holding its own with slight variations in home values over the last six years.  The 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. January- September 2011 showed a median sale price of $640,000.
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q3 2011
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Address |
Sale Price |
Days on
the Market |
Price per
Square Foot | | | | | | | | | |
228 Old Derby Road |
$287,000 |
74 |
$260 | |
270 Gardner Street |
$477,500 |
96 |
$314 | |
29 High Street |
$470,000 |
82 |
$192 | |
475 Main Street |
$517,000 |
32 |
$348 | |
44 Downing St. |
$599,000 |
73 |
$406 | |
13 Otis Hill Rd |
$615,000 |
61 |
$250 | |
146 Fort Hill St. |
$634,000 |
113 |
$257 | |
19 Thaxter St. |
$610,000 |
77 |
$254 | |
2 Bel Air Road |
$719,000 |
110 |
$401 | |
209 North Street |
$778,500 |
147 |
$296 | |
15 Talbot Road |
$884,000 |
16 |
$435 | |
3 Kress Farm Rd. |
$979,000 |
98 |
$233 | |
13 Thompson Ave |
$1,055,000 |
38 |
$393 | |
670 Main Street |
$1,050,000 |
49 |
$362 | |
269 High Street |
$1,150,000 |
346 |
$274 | |
11 Isaac Sprague |
$1,255,000 |
18 |
$283 | |
101 High Street |
$1,360,000 |
46 |
$390 | |
699 Main Street |
$1,265,000 |
57 |
$427 | |
221 Main Street |
$1,375,000 |
67 |
$275 | |
4 Gardner Terrace |
$1,535,000 |
35 |
$301 | |
15 Maryknoll Dr. |
$1,520,000 |
67 |
$343 | |
6 Martins Cove Road |
$1,425,000 |
20 |
$414 | |
48 Whiton |
$1,585,000 |
36 |
$326 |
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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South Shore Market Statistics | |
January - September 2011
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Town |
Total Sales
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% change
from 2010 |
Avg.
Days on
Market |
# of
Units
Sold |
Median Sale Price | |
Cohasset |
$60,019,929 |
(5.6%) |
200 |
68 |
$649,750 | |
Hingham |
$132,906,916 |
(14.5%) |
139 |
187 |
$640,000 | |
Norwell |
$47,735,740 |
11.8% |
166 |
78 |
$540,000 | |
Scituate |
$84,707,870 |
(5.5%) |
139 |
158 |
$475,000 |
Norwell's total sales have shown the only improvement from 2010. However all the towns except Cohasset have shown growth in median sale price in 2011 vs. 2010.
Source: Multiple Listing Service Property Information Network, Inc |
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Your real estate resource
Pamela Bates
Realtor SRES,CNS,CHMS/
Notary Public
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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This Trip's A Breeze |
Did you see Boston Globe's article about The Hingham Commuter Boat?
"As their ride home arrived and sounded its foghorn, the commuters who were lined up at Rowes Wharf smiled in anticipation."
(Sounds perfect)
Click here to read entire article |
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Comments from a
recent client......
"My wife and I worked with Pam Bates on the purchase of our home in Cohasset. From the first time we met her at an open house she was friendly, upbeat and fun to work with. Pam is very knowledgeable about the South Shore and was able to provide insights into not just the towns, but neighborhoods we were considering. Pam's experience in the buying and selling process proved to be invaluable to us."
-Borden Freeman
There is no greater compliment than the referral from your family, friends and previous clients |
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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 10/11/11 the following rates are available:
-30 year fixed: 4.125% + 0 points
-FHA 30 year fixed 3.75% + 0 pts
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-30 year Jumbo fixed: 4.625% + 0 points
-15 year fixed: 3.5% + 0 points
WOW- these rates are .25%- .50% lower than 3 months ago!
Other rate and point options available.
It 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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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
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Useful Resources |
My New Website
Please visit my website, www.PamBates.com for local listings and past editions of my Hingham Real Estate Newsletter
Social Media
You can find me on Facebook at PamelaBatesRealtor
As well as on LinkedIn
And Twitter as well!
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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