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Photograph above courtesy of Bob Dennis,
http://www.flickr.com/photos/portimages/6330029334/in/set-72157627748019749
Welcome to Fall!
This is my favorite time of the year~warm days and cool nights. In addition to beautiful weather, I am pleased to report this fall brings news that the local real estate market continues to show significant signs of recovery. Sales results are up significantly from a year ago in all categories which is very encouraging.
For this newsletter I have again provided "Fast Facts" below for those who prefer just the numbers. I have also added a designation to note statistics that are either more advantageous to buyers or sellers. In this issue they are almost all more advantageous to the sellers, supporting the notion that we are moving more toward a balanced market where neither seller nor buyer are at an advantage. I have also provided an analysis to summarize what all the statistics mean for our local real estate market.
While the spring tends to be the busiest market, fall is still an active real estate market. Buyers are still looking but our inventory levels are relatively low. If you are considering selling your home, please contact me.
Buyers- please continue to look 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. For more information visit www.KevinByrne.com. Fortunately, interest rates are still low as you will see in the Today's Rates section.
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
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Q1-3 2012 Hingham Real Estate Fast Facts
If you are just looking for the facts, here are the Q1-3 2012 vs. Q1-3 2011 statistics
Changes Favoring Sellers
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Q1-3 2012
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Q1-3 2011
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% Change
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Total Sales
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$149,380,507
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$120,095,718
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24.4%
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# of Homes Sold
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197
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166
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18.7%
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Days on the Market
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126
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133
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(5.6%)
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Median Sale Price
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$660,000
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$640,000
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3.1%
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Average Sale Per Square Foot
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$297
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$289
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2.8%
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Sales to List Price Ratio
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96%
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96%
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0
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Current Inventory
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10/12/2012
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10/12/2011
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% Change
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# of Homes on the Market
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236
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260
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(15.0%)
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Months of Supply
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10.3 months
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14 months
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(35.9%)
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Changes Favoring Buyers
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Average Days on the Market
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157
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145
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8.3%
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Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Q1-3 2012 Summary | |
The Local Real Estate Market is Rebounding!
The results for the first 9 months of 2012 are much improved over the same time period in 2011. In Hingham single family home sales totaled over $149 million in January-September 2012 versus $120 million for the same period in 2011. This is an increase of over 24%. In Q1-3 2012 there were 197 homes sold versus 166 in Q1-3 2011. This is an increase of 18.7%.
In Q1-3 2012 the average days on the market was 126 days, 5.6% less time than last year. The sales price to listing ratio is stable at 96%. Finally, the median home price of $660,000 is up by over 3.1% and the average sale per square foot of $297 is up by almost 3%! Currently there is a 10.3-month inventory of homes available, which is down from 14.0 months a year ago. At this point almost all the metrics favor sellers. 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.
 Q1-3 2012 median sale price was $660,000-a 3.1% increase from a year ago. The median home sale price in Hingham during the past 12 years has ranged from $412,000 in 2000 to a high of $670,000 in 2010.
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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 Q3 2012
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Address |
Sale Price |
Days on
the Market |
Price per
Square Foot | |
21 Sycamore |
$320,000 |
77 |
$261 | |
45 Rockwood Road |
$500,000 |
118 |
$208 | |
77 Leavitt St |
$615,025 |
57 |
$316 | |
21 Downing St. |
$664,000 |
79 |
$377 | |
2 Bishops La |
$860,000 |
134 |
$311 | |
248 South Street |
$1,138,800 |
52 |
$299 | |
14 Baker Hill Rd |
$1,190,000 |
55 |
$349 | |
1 Franklin Rogers Rd. |
$1,325,000 |
23 |
$314 | |
12 Causeway Rd |
$1,475,000 |
69 |
$440 | |
51 Leavitt St |
$1,575,000 |
55 |
$275 | |
161 Otis Street |
$1,675,000 |
72 |
$335 | |
2 Merrill Street |
$2,100,000 |
115 |
$339 | |
58 Cottage Street |
$2,875,000 |
12 |
$463 |
If you would like the sale price for a property not listed above,
please contact me.
Source: Multiple Listing Service Property Information Network Inc. |
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South Shore Single Family Market Statistics
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January- September 2012
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Town
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Total Sales
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% change
from Q1-3
2011
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Avg.
Days
on
Mkt.
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# of
Units
Sold
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Median Sale Price
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Cohasset
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$76,136,175
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37.0%
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201
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89
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$755,000
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Duxbury
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$97,734,400
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11.2%
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158
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156
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$540,500
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Hingham
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$149,380,570
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24.4%
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109
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166
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$660,000
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Norwell
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$54,103,486
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16.9%
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151
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94
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$519,750
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Scituate
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$88,353,319
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20.6%
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152
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178
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$435,000
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All markets showed considerable growth in total sales and number of homes sold. Cohasset is showing the most significant growth over Q1-3 2011. However, Hingham is the only town that is showing a growth in median sale price with an increase of 3.1% from Q1-3 2011.
Source: Multiple Listing Service Property Information Network, Inc
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October News Flash
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Q4 has started out with a blast. Two of my listings sold early this month and I have buyers looking for homes....Are you interested in selling? Call me (617) 240-1292 or Pamela.Bates@nemoves.com
99 Lazell Street Sold $1,390,000 in 180 days
45 Otis Hill Road Sold $1,075,000 in 50 days |
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Something New for You....
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Attention potential snowbirds.....Are you thinking of purchasing a Florida home to escape New England winters? My parent's condominium in Bonita Springs, FL (just above Naples, FL on the west coast) is on the market. It is a 1570 sq. ft. 3 bedroom, 2 bath condo at Worthington Country Club listed at $219,000. It is a beautiful gated golf course community with bundled golf, tennis, pools, fitness center, clubhouse with dining and more.
Bonita Springs is just 30 minutes from Fort Myers Airport with multiple non-stop flights daily from Boston. Several Hingham residents already make Worthington their winter home. If you are interested in further information, click on the listing link below. I would be pleased to speak with you or you can contact their Florida realtor, Diane Rudd at (239) 405-1862 dlrudd@comcast.net.
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Worthington Country Club 2nd floor condominium
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Dining room/living room overlooking lanai and golf course
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Lanai overlooking pond and golf course
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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
recent clients...
" Pam has a great knowledge of Hingham neighborhoods and in particular, waterfront/waterview homes. She provided excellent advice on staging, marketing and pricing our home (all occurring in approximately two weeks!), and was a patient, thoughtful and attentive guide through the emotional process of a home sale."
-Mike and Allie Christopher
It was a pleasure working with Pam to sell our home and purchase a new one. The process had its complications, but Pam was always able to move it along. Her ability to stay on top of all the details and resolve issues while managing all parties involved was excellent. We are so happy to be settled in our new home and it would not have come together without all Pam's hard work."
-Keri and Paul Preziosi
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 10/1712 the following rates are available:
-30 year fixed: 3.375% + 0 points
-FHA 30 year fixed: 3.25% + 0 pts
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-30 year Jumbo fixed: 4.125% + 0 points
-15 year fixed: 2.875% + 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
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Is It Time to Sell?
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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?
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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.
pamela.bates@nemoves.com
c: 617 240-1292
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Want to sell your home this fall? Read advice from Boston.com
| | Click here to read "How to prepare your home for a fall sale" |
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 Useful Resources
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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
Pamela Carney Bates
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
Join my mailing list |
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