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Greetings To All and Spring Is In The Air!
After an unprecedented winter with minimal snow and moderate temperatures, I am proud to report spring sprung early for the local real estate market. Sales results are up from a year ago in almost all categories, which is very encouraging. You will also see a recent article from The Boston Globe about bidding wars. After 5 or so years of being a 'Buyers Market', it appears we are moving more toward a balanced market, where neither the buyer nor the seller are at an advantage. For this newsletter I have again provided "Fast Facts" below for those who prefer just the numbers and added a designation to note statistics that are either more advantageous to buyers or sellers. I have also provided an analysis to summarize what all the statistics mean for our local real estate market.
In the first three months of the year, we have seen new listings come on the market and go under agreement almost immediately and yes, we have seen some bidding wars as well. We are hopeful that is a sign of a positive 2012. There are properties coming on the market daily so if you are a buyer, keep looking and be prepared to make a bid when you find that right property. It is prudent to be pre-approved for a mortgage and Kevin Byrne in our office is an extremely knowledgeable and excellent resource to assist you, www.KevinByrne.com Fortunately, interest rates are still low as you will see in the Today's Rates section but they have started to climb. If you are a potential seller, NOW is the time to list your home for sale.
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 2012 Hingham Real Estate Fast Facts
If you are just looking for the facts, here are the Q1 2012 vs Q1 2011 statistics.
Changes Favoring Sellers
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Homes Sold |
Q1 2012 |
Q1 2011 |
%
Change | |
Total Sales |
$27,789,000 |
$17,614,622 |
57.7% | |
# of Homes
Sold |
36 |
26 |
38% | |
Days on
the Market |
129 |
194 |
(50.3%) | |
Median Sale
Price |
$788,500 |
$612,500 |
28.7% | |
Average Sale Per Square Foot |
$294 |
$259 |
13.5% | |
Sales to List
Price Ratio |
95% |
94% |
1.0% |
Changes Favoring Buyers
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Current
Inventory |
4/1/2012 |
4/1/2011 |
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# of Homes
on the Market |
221 |
184 |
20.1% | |
Months of
Supply |
12.3 months |
10.4 months |
18.3% | |
Days on
the Market |
157 |
145 |
28.9% |
Source: Multiple Listing Service Property Information Network Inc. |
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Hingham Real Estate Q1 2012 Summary | |
What a Difference A Year Makes....
The results for first quarter 2012 are much improved over the same time period in 2011. In Hingham single family home sales totaled over $27.8 million in January-March 2012 versus $17.6 million for the same period in 2011. This is an increase of over 57%! In Q1 2012 there were 36 homes sold versus 26 in Q1 2011. This is an increase of 38%.
In Q1 2012 the average days on the market was 129 days which is decrease of over 50% from last year. The sales price to listing ratio is stable at 95%. Finally, the median home price of $788,500 is up by over 28% and the average sale per square foot of $294 is up by 13.5% ! Keep in mind that January-March has typically the lowest volume of sales vs any other quarter during the year but clearly the results are tremendously encouraging.
Currently there is a 12-month inventory of homes available, which is higher than typical for early spring. However because of favorable weather this winter, many sellers decided to list homes in February and March rather than wait until the typical 'spring market'. While the sales results so far favor sellers, the current inventory levels are more buyer favored. In general, we are trending toward a more balanced market, favoring neither buyers nor sellers, than we have seen in the past few years.
A 12-Year Perspective..... While national sales figures show significant declines in home values, our local real estate market has held its own with slight variations in home values over the past seven years.
 The median home sale price in Hingham during the past 12 years has ranged from $412,000 in 2000 to a high of $788,500 for Q1 2012! Admittedly this is measuring just a 3-month period but Q1 2011 median sale price was $612,500. WOW - a 29% increase from a year ago!
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q1 2012
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Address |
Sale Price |
Days on
the Market |
Price per
Square Foot | |
172 Fort Hill Street |
$330,000 |
328 |
$235 | |
221 Cushing Street |
$386,000 |
129 |
$417 | |
11 Planters Field Lane |
$450,000 |
86 |
$269 | |
26 Tower Road |
$540,000 |
127 |
$325 | |
120 Downer Avenue |
$556,000 |
14 |
$397 | |
974 Main Street |
$782,500 |
115 |
$294 | |
12 Weston Road |
$885,000 |
34 |
$360 | |
81 Hersey Street |
$915,000 |
155 |
$267 | |
144 Main Street |
$905,000 |
119 |
$301 | |
55 Central Street |
$961,500 |
64 |
$292 | |
9 Malcolm Street |
$1,300,000 |
203 |
$414 | |
2 Weston Road |
$1,499,000 |
176 |
$336 | |
688 Main Street |
$1,410,000 |
231 |
$282 | |
28 Canterbury St |
$1,400,000 |
338 |
$241 | |
23 Baker Hill Drive |
$1,525,000 |
245 |
$254 |
Source: Multiple Listing Service Property Information Network Inc.
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South Shore Single Family Market Statistics | |
January-March 2012
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Town |
Total Sales |
% change
from Q1 2011 |
Avg.
Days on
Market |
# of
Units
Sold |
Median Sale Price | |
Cohasset |
$6,970,000 |
(59.0%) |
315 |
12 |
$517,500 | |
Hingham |
$27,789,000 |
57.7% |
129 |
36 |
$788,500 | |
Norwell |
$7,840,986 |
(5.6%) |
165 |
14 |
$471,250 | |
Scituate |
$13,958,800 |
(11.1%) |
181 |
32 |
$430,000 |
Hingham experienced a significant improvement in all categories while Cohasset, Norwell and Scituate had declines in many categories when comparing Q1 2012 to Q1 2011.
Source: Multiple Listing Service Property Information Network, Inc |
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A Very Special Property | |
My newest listing.....
An extraordinary opportunity to live in a private estate setting with the convenience of Hingham Centre! This 5,000 sq. ft. home has been meticulously maintained featuring a granite countered kitchen, spacious family room, entertainment-sized dining room, 7 bedrooms including a master bedroom suite and much more. The property also includes a 2,400 sq. ft. carriage/pool house overlooking a beautiful gunite pool, 4-acres of lush foliage, stone walls, and perennial gardens. Neighborhood association tennis court too. An exceptional property!
Proudly offered at $1,690,000
If you or anyone you know would like to schedule a showing, please contact me.
 | | 99 Lazell Street, Hingham |
 | | Pool, Carriage/Pool House and Backyard |
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Your real estate resource
Pamela Bates
Realtor ABR,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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Comments from a
recent client...
 | | 26 Tower Rd, Hingham |
"I enjoyed working with Pam over the past year to find my home. I was most impressed by Pam's integrity to find the correct value of the home and not just the price to get the deal completed. She is a person who is connected to her clients and goes the extra mile to manage the purchase and sale process."
-Krista Novak
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 4/2/12 the following rates are available:
-30 year fixed: 4.0% + 0 points
-FHA 30 year fixed: 3.75% + 0 pts
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-30 year Jumbo fixed: 4.5 % + 0 points
-15 year fixed: 3.25% + 0 points
Other rate and point options available.
There is still 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 |
Find out what is happening around town at this website and read my real estate blog!
Hingham Patch
My Personal Website
Please visit my website, www.PamBates.com for local listings and links to community information, more client testimonials 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
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