|
 Welcome to Winter!
The holidays are behind us and we have welcomed in a new year. I hope 2013 brings continued good news for the local real estate market. If you have been reading my newsletters this year, you know that 2012 resulted in more transactions, more sales volume and a slight increase in the median sale price as compared to a year ago. It appears our local real estate market continues to show significant signs of recovery.
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 still predominantly advantageous to 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 our busiest market, last year our spring started in January! Currently our inventory levels are quite low and we know that buyers are looking. If you are considering selling your home, please contact me immediately.
Buyers- if you are looking to purchase this year it is prudent to be pre-approved for a mortgage. 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.
I have also added a section on new developments in town. There are four and I have provided highlights and links to various websites below. New construction is a sign of confidence in the local real estate market. If you are interested in more information or buyer representation, I would be pleased to assist.
Finally, I have featured 403 Main Street in Hingham. It is a gracious move-in ready Victorian in the heart of Hingham Center. Please contact me know if you would like further information or to schedule a showing. I am also hosting an open house this Sunday, January 13 from 1-3 pm and would welcome all visitors!
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, text or click away. Sincerely,Pam Bates Coldwell Banker Residential Brokerage c: 617-240-1292 |
|
Just The Facts Please | |
Year End 2012 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts, here are the
2012 vs. 2011 statistics.
Changes Favoring Sellers
|
|
2012 |
2011 |
% Change | |
Total Sales |
$195,401,722 |
$148,936,943 |
31.2% | |
# of Homes Sold |
256 |
211 |
21.3% | |
Days on the Market |
124 |
132 |
(6.5%) | |
Median Sale Price |
$664,500 |
$631,000 |
5.3% | |
Average Sale Per Square Foot |
$297 |
$293 |
1.4% | |
Sales to List Price Ratio |
96% |
96% |
0
| |
Current Inventory |
1/3/2012 |
1/3/2011 |
% Change | |
Average days on the market |
175 |
191 |
(9.1%) | |
Months of Supply |
8.0 |
9.0 |
(12.5%) |
Changes Favoring Buyers
|
# of Homes on the Market |
171 |
159 |
7.5% |
Source: Multiple Listing Service Property Information Network Inc. |
|
Hingham Real Estate Year End 2012 Summary | |
Good news for the local real estate market!
The results for 2012 are much improved over 2011. In Hingham single family home sales totaled over $195 million in 2012 versus $149 million for the same period in 2011. This is an increase of over 31%. In 2012 there were 256 homes sold versus 211 in 2011. This is an increase of 21.3%.
In 2012 the average days on the market was 124 days, 6.5% less time than last year. The sales price to listing ratio is stable at 96%. Finally, the median home price of $664,500 is up by over 5.3% and the average sale per square foot of $297 is up by almost 1.4%. Currently there is a 8 month inventory of homes available, which is down from 9 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 13-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.
In 2012 median sale price was $664,500-a 5.3%
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.
.
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 Q4 2012
|
Address |
Sale Price |
Days on
the Market |
Price per
Square Foot | |
24 Whitcomb Ave |
$353,000 |
31 |
$272 | |
650 Main Street |
$371,500 |
70 |
$219 | |
5 Maple Street |
$503,000 |
56 |
$322 | |
198 Central Street |
$490,000 |
38 |
$378 | |
1045 Main Street |
$565,000 |
36 |
$183 | |
7 Fairview Street |
$750,000 |
50 |
$289 | |
27 School Street |
$902,000 |
43 |
$382 | |
132 Main Street |
$965,250 |
154 |
$319 | |
45 Otis Hill Road |
$1,075,000 |
50 |
$308 | |
480 Main Street |
$1,150,000 |
102 |
$266 | |
99 Lazell Street |
$1,390,000 |
50 |
$210 | |
200 Otis Street |
$1,465,000 |
67 |
$431 | |
3 Seal Cove Lane |
$1,500,000 |
127 |
$441 |
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- December 2012
|
Town |
Total Sales |
% change
from
2011 |
Avg.
Days
on
Mkt. |
# of
Units
Sold |
Median Sale Price | |
Cohasset |
$96,096,825 |
48.5% |
192 |
112 |
$722,250 | |
Duxbury |
$127,109,840 |
17.9% |
161 |
195 |
$541,000 | |
Hingham |
$195,401,722 |
31.2% |
124 |
256 |
$664,500 | |
Norwell |
$66,476,160 |
21.6% |
184 |
92 |
$535,000 | |
Scituate |
$110,321,597 |
17.5% |
149 |
223 |
$438,100 |
All markets showed considerable growth in total sales and number of homes sold. Cohasset and Hingham are showing the most significant growth over 2011. Hingham, Cohasset and Duxbury all experienced a slight increase in median sale price while Scituate and Norwell experienced a slight decline.
Source: Multiple Listing Service Property Information Network, Inc
|
|
Gracious Hingham Center Victorian |
Open House Sunday, January 13 1-3 pm
at 403 Main Street, Hingham
Please join me before The Patriots Game!
Impeccable Main Street Victorian circa 1871 in the heart of Hingham Center. Tastefully updated 11 room antique features newer granite/stainless kitchen, fireplaced family room, entertainment-sized dining room, 5 bedroooms, 10' ceilings, antique wide pine floors and many more architectural details. Beautiful bluestone patio off kitchen overlooking level 1/2 acre and adjacent town ball fields, playground, town hall and more.
 | | Bluestone patio and courtyard |
 | | Entertainment-sized dining room and 10' ceilings |
 | | Updated kitchen with granite and stainless |
 | | Sun-drenched family room with fireplace |
For further information and more photographs
|
|
|
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
|
|
|
Real Estate in the Media
Money Magazine, December 3, 2012
Real estate: Find opportunity
next year (2013)
"Why, as a prospective home seller or buyer, you need to stop sitting on your hands....After five years of tumult, order and opportunity are finally being restored to the housing market."
Click here to read the entire article |
|
Comments from a
Recent Client...
 | | 6 Rachael's Lane, Duxbury |
"Thank you again for the fabulous, above and beyond work you did from my first visit to the property to settlement and even beyond as I purchased my dream house in Duxbury. From day one it was clear that you were listening to me to understand who I am and what was important to me both in terms of the property I was looking for and the process. ...Your attentiveness to details and immediate responsiveness to my questions and requests made me feel as if I was your number one priority whatever the day or time. ... I have bought and sold several houses in different states and never had such a positive experience.... Everyone should be as fortunate as I have been in working with you. Thank you so much"
-Sara Rosenberry
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 1/7/2013 the following rates are available:
-30 year fixed: 3.5% + 0 points
-FHA 30 year fixed: 3.25% + 0 pts
.
-30 year Jumbo fixed: 4.125% + 0 points
-15 year fixed: 2.875% + 0 points
WOW- these are great rates!
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
|
|
New Projects in Town
Hingham boasts several new developments in town, which is an encouraging sign for the local real estate market. If you are interested in finding out more about any of these communities or buyer representation, please contact me for further information and insights.
Hewitts Landing- 150 luxury waterfront townhomes built by Lennar in The Hingham Shipyard. 2 or 3 bedroom options available. Pricing starting in the upper $500s.
Hewitts Landing website
The Moorings- 92 luxury residential condomoniums
in The Hingham Shipard. Harborviews from every residence. 1,2 or 2 plus bedrooms available. Under construction now starting in the high $400s.
The Moorings website
The Weathervane at Chestnut Gardens -23 detached single family homes on Beal Street in Hingham. 3 or 4 bedroom options available with pricing starting in the upper $600s.
Weathervane at Chestnut Gardens website
|
Derbybrook- 20 townhomes at 304 Whtiing Street. Phase I under construction. Prices starting at $699,000
Derbybrook website |
|
|
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.
pamela.bates@nemoves.com
c: 617 240-1292 |
|
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
|
|
|
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
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 |
|
