Photograph above courtesy of Chris Devers,
http://www.flickr.com/photos/cdevers/2795267432/
Greetings To All and To Summer! Here we are at the midpoint of 2011 and we have made it to summer. The weather has improved and the weekends have been beautiful. I hope you have been able to spend them with family and/or friends doing something special.
I am proud to report that the positive early spring trends have continued throughout the first half of 2012. Sales results are up significantly from a year ago in almost all categories which is very encouraging. Unemployment is down, consumer confidence is up and interest rates are still low. This is a great combination for a real estate recovery. 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 half of the year, we have seen new listings come on the market and go under agreement almost immediately. Some have even had multiple offers. Buyers- this is an important time to step into the market! We are starting to see sale prices increase locally. Now is a great time to buy. There are still 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. 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 click away. Sincerely,Pam Bates Coldwell Banker Residential Brokerage c: 617-240-1292
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Just The Facts Please |
Q1-2 2012 Hingham Real Estate Fast Facts
If you are just looking for the facts, here are the Q1-2 2012
vs Q1-2 2011 statistics.
Changes Favoring Sellers
Homes Sold |
Q1-2 2012 |
Q1-2 2011 |
%
Change |
Total Sales |
$76,188,745 |
$68,29568 |
11.5% |
# of Homes
Sold |
102 |
95 |
7.4% |
Days on
the Market |
147 |
149 |
(1.3%) |
Median Sale
Price |
$725,000 |
$640,000 |
13.3% |
Average Sale Per Square Foot |
$299 |
$291 |
2.8% |
Sales to List
Price Ratio |
95% |
96% |
(1.0) |
Changes Favoring Buyers
Current
Inventory |
7/2/2012 |
7/2/2011 |
|
# of Homes
on the Market |
236 |
233 |
1.2% |
Months of
Supply |
13.8 months |
13.7 months |
0.7% |
Days on
the Market |
142 |
133 |
6.8% |
Source: Multiple Listing Service Property Information Network Inc. |
Hingham Real Estate Q1-2 2012 Summary |
The Local Real Estate Market is Rebounding!....
The results for the first half of 2012 are much improved over the same time period in 2011. In Hingham single family home sales totaled over $76.2 million in January-June 2012 versus $68.3 million for the same period in 2011. This is an increase of over 11.5%. In Q1-2 2012 there were 102 homes sold versus 95 in Q1 2011. This is an increase of 7.4%.
In Q1-2 2012 the average days on the market was 147 days which is essentially the same as in the previous year. The sales price to listing ratio is stable at 95%. Finally, the median home price of $725,000 is up by over 13% and the average sale per square foot of $299 is up by almost 3%! Currently there is a 13.8-month inventory of homes available, which is the same from last year. 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 than we have seen in the past few years, favoring neither buyers nor sellers.
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 $725,000 for Q1-2 2012! Q1-2 2011 median sale price was $640,000-a 13.3% increase from a year ago.
Real estate economists state that recoveries start with an improvement in total sales, then a gradual improvement in sale price. Fortunately we are trending in that direction.
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q2 2012
Address |
Sale Price |
Days on
the Market |
Price per
Square Foot |
74 Canterbury |
$257,000 |
307 |
$300 |
221 Cushing Street |
$386,000 |
129 |
$417 |
25 Beal Street |
$496,250 |
24 |
$291 |
598 Main Street |
$612,000 |
179 |
$327 |
12 New Bridge Street |
$760,000 |
59 |
$211 |
124 Lincoln Street |
$860,000 |
287 |
$345 |
18 Malcolm Street |
$900,000 |
25 |
$500 |
144 Main Street |
$905,000 |
119 |
$302 |
26 Ship Street |
$1,050,000 |
466 |
$327 |
19 Middle Street |
$1,150,000 |
186 |
$319 |
11 Cottage Street |
$1,125,000 |
307 |
$500 |
211 Charles Street |
$1,300,000 |
229 |
$273 |
4 Porter's Cove |
$1,350,000 |
272 |
$241 |
74 School Street |
$1,600,000 |
206 |
$310 |
39 Highview Drive |
$1,800,000 |
653 |
$582 |
If you would like the sale price for a property not listed above,
please contact me.
Source: Multiple Listing Service Property Information Network Inc. |
South Shore Single Family Market Statistics |
January- June 2012
Town |
Total Sales |
% change
from Q1-2 2011 |
Avg.
Days on
Market |
# of
Units
Sold |
Median Sale Price |
Cohasset |
$39,950,825 |
50.6% |
208 |
51 |
$725,000 |
Hingham |
$76,188,745 |
11.5% |
147 |
102 |
$725,000 |
Norwell |
$29,574,586 |
25% |
196 |
49 |
$517,000 |
Scituate |
$55,148,220 |
11.1% |
108 |
108 |
$440,000 |
All markets showed considerable growth in total sales and number of homes sold. Cohasset is showing the most significant growth over Q1-2 2011. However, Hingham is the only town that is showing a growth in median sale price with an increase of 13.3% from Q1-2 2011.
Source: Multiple Listing Service Property Information Network, Inc |
A Very Special Property |
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 countertop 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!
A new price of $1,499,000
(That is $227 per square foot)
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...
130 No. Main Street, Cohasset
" Working with Pam was a rewarding experience for us. The process of searching for our new home went very smoothly due to Pam's careful attention to our needs and understanding exactly what type of property we were looking for. Pam very quickly identified a house that we would probably not have considered, but it turned out to exceed all our expectations! We were so pleased with the search and negotiations that we asked Pam to represent us in selling the house we owned. Pam was equally efficient with this task - her careful preparations and attention to detail resulted in the sale of our house at an excellent price within days of going on the market ! We love our new home and truly appreciate Pam's help throughout the process. "
-Anne and John Belknap
There is no greater compliment than the referral from your family, friends and previous clients. |
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 7/3/12 the following rates are available:
-30 year fixed: 3.75% + 0 points
-FHA 30 year fixed: 3.5% + 0 pts
.
-30 year Jumbo fixed: 4.25% + 0 points
-15 year fixed: 3.25% + 0 points
WOW- rates have dropped again from 3 months ago! 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 |
Is It Time to Sell? |
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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Thinking of Becoming a Realtor? |
I would be pleased to speak with you about working for Coldwell Banker, the #1 real estate office in Hingham, New England and the United States.
[email protected]
c: 617 240-1292 |
Happiest Seaside Towns....
Two South Shore Towns were selected by Coastal Living Magazine as two of the happiest. Click below to read the article.... |
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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
NewEnglandMoves.com
Mortgage Calculator
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