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 We Could Use Some Spring!
Greetings all,
Hopefullly the snow is behind us and fair weather is ahead. We need some spring-like temperatures! Unfortunately the inclement weather effected the local real estate sales for the beginning of this year as well. It is hard to purchase a home when you can't see the yard underneath all the snow! Sales and transactions are down from a year ago but local and national experts predict a strong real estate market in 2013. Keep in mind that only about 10% of the annual transactions are conducted during Q1. This means that the rest of this year should be active with sales.
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 predominantly advantageous to buyers, at least for this quarter. For those of you who have been reading my newsletters, you will recall that 2012 was an excellent year with significantly higher transactions and sales versus 2011. Experts are predicting 2013 should be a stronger market than 2012. I have also provided an analysis to summarize what all the statistics mean for our local real estate market.
You will notice that our inventory levels of homes on the market are down from a year ago. 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. Now is a great time to list your property for sale.
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 a new development in town. Craftsman Village is a village of 8 free standing homes on Beal Street. 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 provided a summary of my local sales during 2012. It is a pleasure to assist clients with their real estate needs and I appreciate their support. I also appreciate your referrals as well!
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 |
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Just The Facts Please | |
Q1 2013 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts, here are the
Q1 2013 vs Q1 2012 statistics
Changes Favoring Buyers
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Q1 2013 |
Q1 2012 |
% Change | |
Total Sales |
$24,260,400 |
$27,864,500 |
(14.8%) | |
# of Homes Sold |
34 |
36 |
(5.8%) | |
Days on the Market |
167 |
134 |
25.3% | |
Median Sale Price |
$600,000 |
$788,500 |
(31.4%) | |
Average Sale Per Square Foot |
$287 |
$295 |
(2.7%) | |
Sales to List Price Ratio |
95% |
95% |
0
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Current Inventory |
4/4/2013 |
4/4/2012 |
% Change | |
Average days on the market |
170 |
153 |
11.1 |
Changes Favoring Sellers
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# of Homes on the Market |
209 |
224 |
(7.1%) | |
Months of Supply |
8.0 |
9.0 |
(12.5%) |
Source: Multiple Listing Service Property Information Network Inc. |
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Hingham Real Estate Q1 2013 Summary | |
We Need Spring!
The results for Q1 2013 are off from a year ago. However only 10% of annual sales are transacted during the first quarter of the year which can make the results misleading. In Hingham single family home sales totaled over $24 million in for Q1 2013 versus over $27 million for the same period in 2012. This is a decrease of 14.8%. During Q1 2013 there were 34 homes sold versus 36 during Q1 2013. This is a decrease of 5.8% but in fact only 2 homes.
In Q1 2013 the average days on the market was 167 days, 25.3% increase from last year. The sales price to listing ratio is stable at 95%. Finally, the median home price of $600,000 is off from a year ago and the average sale per square foot of $287 is off by 2.7%. Currently there is a 9.5 month inventory of homes available, which is down from 12.8 months a year ago. In general, most metrics this quarter favor buyers, other than the inventory of homes for sale. 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. The Q1 2013 the median sale price was $600,000. Hingham during the past 12 years has ranged from $412,000 in 2000 to a high of $670,000 in 2010. . Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales Q1 2013
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Address |
Sale Price |
Days on
the Market |
Price per
Square Foot | |
1012 Main Street |
$380,000 |
336 |
$296 | |
339 Gardner Street |
$452,900 |
321 |
$288 | |
23 Sycamore Lane |
$450,000 |
227 |
$338 | |
45 Smith Road |
$530,000 |
179 |
$277 | |
21 French Street |
$605,000 |
86 |
$215 | |
28 Longmeadow Rd |
$655,000 |
279 |
$292 | |
22 Canterbury St. |
$835,000 |
169 |
$217 | |
3 Patrick's Way |
$945,000 |
126 |
$262 | |
15 Boulder Glen Rd |
$975,000 |
169 |
$377 | |
5 Pheasant Run |
$1,035,000 |
18 |
$366 | |
48 School Street |
$1,280,000 |
47 |
$375 | |
28 Fearing Road |
$1,350,000 |
137 |
$381 | |
34 Martin's Lane |
$1,800,000 |
231 |
$360 |
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 | |
South Shore single family statistics
January - March 2013
|
Town |
Total Sales |
% change
from
Q1 2012 |
Avg
Days
on
Mkt. |
# of
Units
Sold |
Median Sale Price | |
Cohasset |
$12,976,300 |
75.5% |
135 |
15 |
$800,000 | |
Duxbury |
$15,028,409 |
(30%) |
201 |
21 |
$450,000 | |
Hingham |
$24,260,400 |
(14.8%) |
167 |
34 |
$600,000 | |
Norwell |
$12,160,640 |
55% |
200 |
21 |
$497,390 | |
Scituate |
$19,450,611 |
34.7& |
156 |
41 |
$430,000 |
Q1 2013 results are variable by town. In general, towns that performed not as strong in 2012, such as Norwell and Scituate, showed signficant growth in Q1 2013. Most notable is Cohasset's growth in sales as well as median price. This is the only town that showed growth in median price year over year. However, it is on a very small base of 15 units. Next quarter will be more telling to validate these trends.
Source: Multiple Listing Service Property Information Network, Inc
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My 2012 Real Estate Sales | |
I was fortunate to represent either buyers or sellers for the following homes. Thank you to my clients for your support and thank you for your referrals as well. It has been a pleasure working with you all!
99 Lazell Street, Hingham
45 Otis Hill Road, Hingham
130 N. Main Street, Cohasset
26 Tower Road, Hingham
6 Rachael's Lane, Duxbury
45 Rockwood Road, Hingham
424 Liberty Street, Braintree
72 Helen Drive, Abington
If you are considering selling your home or interested in making a purchase, it would be my pleasure to assist you.
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.
Should you be 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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Your real estate resource
Pamela Bates
Realtor- Accredited Buyer Representative, Relocation Specialist, SRES,CNS,CHMS/ Notary Public
Coldwell Banker Residential Brokerage
56 South Street
Hingham, MA 02043
c: 617 240-1292
o: 781 749-4300
fax: 781 210-0227
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Real Estate in the Media
Boston Magazine
boasts that the real estate market is back AND Hingham once again made the list of
The Best Places to Live.
This time, Hingham was featured as a town for, "Going Huge". Hmmm..... not sure what this really means but you can read the article for yourself!
Click here to read Boston Magazine's Best Places to Live article
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Is it Safe to Sell Your House Now?
"It might finally be time to come out of the basement. Seven years after the housing market began to collapse, rising prices and thinner inventories are presenting new opportunities for home sellers. Some hot markets are even seeing multiple offers for the same property-a phenomenon rarely seen since the boom years-as buyers become more confident and seek to take advantage of today's near-record-low mortgage rates."
Click here to read the entire article |
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More Reassuring News....
Real Estate Analyst The Warren Group: Massachusetts housing market has turned the corner'
Click here to read the entire article
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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 April 8, 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: 3.875% + 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
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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.
pamela.bates@nemoves.com
c: 617 240-1292
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What's New In Town
Craftsman Village on
Beal Street, Hingham
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Introducing "Craftsman Village" on Beal Street, Hingham's newest development offering 3 bedroom, 2.5 bath free standing homes with 2,237 square feet of living space and top-of-the line finishes in a beautiful maintenance free environment. Open floor plans with first floor masters allow for true one level living. Generous second floor bedrooms create a truly versatile plan to accommodate all family types. 2 car attached garage. There are only eight homes in this new community. Two are under agreement already. Delivery projected for end of summer 2013.
Prices starting at $599,000.
If you would like further information or buyer representation, please contact me.
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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
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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