Hingham Real Estate Review and Market Insights

   Second Quarter 

2012

hingham harbor tender

Photograph above courtesy of Chris Devers,  

 http://www.flickr.com/photos/cdevers/2795267432/

     summer     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

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

  hingham
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.     
Q1-2 2012 median sale price
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
99 Lazell Street, Hingham
99 Lazell backyard/pool
Pool, Carriage/Pool House and Backyard
In This Issue
Hingham Real Estate Fast Facts
Hingham Real Estate Summary
South Shore Statistics

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

Boston Real Estate News 

The Boston Globe
 

The Warren Group reported recently in The Boston Globe that home sales are up 16% in May throughout the Boston area.....


 Click here to read the entire article

Comments from a

recent client... 

130 No. Main Street, Cohasset

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 

mortgage rate 

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     

 

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 

 

  June 2012 coastal living 

Happiest Seaside Towns....

Two South Shore Towns were selected by Coastal Living Magazine as two of the happiest.  Click below to read the article....

 Useful Resources

 hingham patch

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

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As well as on LinkedIn

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And Twitter as well

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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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