Hingham Real Estate Review and Market Insights

Year End

2013

Winter on Hingham Harbor- almost looks like a painting!

Wintertime!

Greetings all,

The holidays are behind us and we have welcomed a new year. 2013 proved to be another very good year for the local real estate market with continued increases in transactions and sales volume. Forecasts are for 2014 to continue these positive trends. It appears our local real estate market continues to show significant signs of recovery.

In 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 I am pleased to report they are predominantly advantageous to sellers. 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. If you are considering selling your home, please contact me. It is a good time to consider listing your property for sale. Buyers are looking. It is also an excellent time to consider upgrading in this market. I have also included an article on how to purchase a home prior to selling your current home!

Buyers- if you are looking to purchase a home you must be pre-approved for a mortgage. Kevin Byrne in our office is extremely knowledgeable and an excellent resource to assist you. For more information visit www.KevinByrne.com. Interest rates are starting to tick upward so now is an excellent time to make a purchase and lock in a favorable rate.

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

pamela.bates@nemoves.com

Just The Facts Please

Year End 2013 Hingham Single Family

Real Estate Fast Facts

If you are just looking for the facts, here are the

2013 vs. 2012 statistics

Changes Favoring Sellers

Year End

2013

Year End

2012

% Change

Total Sales

$201,161,912

$195,401,722

3.0%

# of Homes Sold

262

256

2.3%

Days on the Market

113

124

(9.7%)

Average Sale Price

$767,974

$763,288

.6%

Average Sale Per Square Foot

$313

$296

5.7%

Sales to List Price Ratio

97%

96%

1.0%

Current Inventory

1/13/2013

1/13/2012

% Change

# of Homes on the Market

164

170

(3.7%)

Months of inventory

6.3

7.7

(22.2%)

Changes Favoring Buyers

Median Sale Price

$650,000

$664,500

(2.2)

Source: Multiple Listing Service Property Information Network Inc.

Hingham Real Estate Year End 2013 Summary

Another Very Good Year!

The results for 2013 are up from a year ago in almost all categories. In Hingham single family home sales totaled over $201 million in 2013 versus over $195 million for the same period in 2012. This is an increase of 3%. During 2013 there were 262 homes sold versus 256 in 2012. This is an increase of 2.3%. In 2013 the average days on the market was 113, a 9.7% decrease vs.124 in 2012.

The good news is that total sales and transaction counts are up year over year, and days on market are down (both positive indicators of a real estate recovery). However the median price has gone down by 2.2% from a year ago. When reviewing sales at various price segments, it is clear that the most active range is below $700,000 More specifically the $500,000-$700,000 had the largest year-over-year growth with 60% more transactions than the previous year and a clear driver of the local real estate recovery. This growth has driven the median price from $664,500 a year ago to $650,000. Sales in the price segments above $700,000 and below $500,000 were for the most part similar year over year. Average price is up slightly but most experts suggest focusing on median price as it is not effected by a single very low or extremely high sale. I will continue to monitor this metric over the next several months to see if the median sale price rebounds.

Currently there is a 6.3 month inventory of homes available, which

is down from 7.7 months a year ago. In general, all metrics this quarter favor sellers, other than median sale price.

A 13-Year Perspective.....

The year end 2013 median sale price was $650,000. In Hingham during the past 13 years the median price 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 Q4 2013

Address	Sale Price	Days On The Market	Price per Square Foot
122 Downer Ave	$372,500	100	$388
188 Hull Street	$479,900	9	$279
40 Governor Andrew	$550,000	30	$373
1111 Main Street	$657,000	133	$258
53 Bradley Hill Drive	$730,000	25	$406
217 Wompatuck Rd	$825,000	15	$272
24 Whitcomb Ave	$849,000	1	$314
24 Canterbury St	$975,000	560	$237
20 Highview Drive	$1,030,000	24	$328
61 Bel Air Road	$1,015,000	125	$298
11 Beach Lane	$1,239,000	17	$374
44 Pleasant Street	$1,950,000	43	$420
8 Seal Cove Road	$3,330,000	428	$707

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

South Shore single family statistics

Year End 2013

Town	Total Sales	% change from 2012	Avg Days on Mkt.	# of Units Sold	Median Sale Price
Cohasset	$122,909,830	27.4%	125	116	$957,700
Duxbury	$161,530,983	27%	104	232	$550,000
Hingham	$201,161,912	3%	113	262	$650,000
Norwell	$93,517,075	40.7%	139	146	$582,500
Scituate	$122,700,947	11.0%	108	225	$475,000

All towns showed growth in sales volume and number of homes sold. All towns showed growth in median sale price, other than Hingham, which was off by 2.2%. Norwell and Cohasset showed a significant growth in the combined metrics of sales volume and median sale price. Wow! In general, the improved statistics for Hingham happened between 2011-2012 and now the other communities are showing their improvement between 2012-2013.

Source: Multiple Listing Service Property Information Network, Inc

Coldwell Banker Exclusives-Two beautiful custom shingle style homes for sale in Hingham

10 Martins Cove Lane, Hingham

In the premier community of World's End

GRACIOUS CUSTOM DESIGNED 7,000 square foot shingle style house on a 1.35 acre lot in desirable World's End. Built in 2007, this home has all the amenities buyers want in one of Hingham's premier neighborhoods. Chef's kitchen, open floor plan, spacious family room with fireplace, stone floored porch overlooking serene backyard and pool. First floor guest suite, office, powder room and fabulous mud room. Second floor includes 4 bedrooms and 3 baths including a master suite with 4 piece bathroom and views of the Boston skyline as well as a craft room to inspire your artistic side. Third floor is bonus space to be used as you like with special views of Boston and Hingham Harbor. A 2,500 square foot basement has been recently renovated with in-home theater, gym and entertainment room complete with beverage and wine center. Private yard has beach style landscaping and multiple entertainment areas. DEEDED BEACH RIGHTS to a neighborhood beach for swimming and boating activities. A very special home for the discerning buyer.

Proudly offered at $3,650,000

22 Maryknoll Drive, Hingham

In the premier community of Maryknoll/Brandon Woods

This beautiful home was built in 2000 with over 6,200 sq. ft. of living space and is located in the premier neighborhood of Brandon Woods. It features 3.26 acres of PRIVATE, meticulously maintained grounds, a 3 car garage, spacious family room with stone fireplace, sunroom overlooking expansive deck with hot tub, sunlit kitchen with granite countertops, first floor office, mudroom, guest suite, fireplaced living room and dining room. The home includes 5 bedrooms and 4 full and 2 half baths. Basement is fully finished with media room, gym, gas fireplace, auxiliary kitchen and powder room. A very special family home!

Proudly offered at $1,775,000

Both these properties are Coldwell Banker office exclusives. Please contact me if you would like to view either of these beautiful homes.

Pamela.Bates@nemoves.com, cell: 617 240-1292.

In This Issue

Just The Facts Please

Hingham Real Estate Summary

South Shore Statistics

Coldwell Banker Exclusives-Two beautiful custom built shingle style homes in Hingham

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

email: pamela.bates@nemoves.com

Visit my website

www.PamBates.com

Real Estate in the Media.....

Real estate sales, prices up south of Boston

Click here to read this article from December 8, 2013

How to buy a home before selling yours

Interest in learning how?

Click here to read an article on how to make it happen

10 Tips for Home Buyers and Sellers in 2014

Click here to read insights from national experts!

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.

Pamela.Bates@nemoves.com

c: 617 240-1292

There is no greater compliment than the referral from your family, friends and previous clients.

New Projects in Town!

New Projects are another sign that the real estate market continues to recover.

Toll Brothers Estates at Cohasset

is a project of 41 single family homes with 3 and 4 bedroom floorplans starting in the upper $800s.

Damon Farm

Hingham-Norwell

is a 32 unit project at Queen Anne Corner. There will be single family, 2 and 3 family buildings. The development is in both Hingham and Norwell. Prices start at $699,000.

If you are interested in further information on either of these projects or have another real estate question, please contact me.

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 January 14,2014 the following rates are available:

-30 year fixed: 4.375% + 0 points

-FHA 30 year fixed: 4.0% + 0 points

-30 year Jumbo fixed: 4.5% + 0 points

-15 year fixed: 3.375% + 0 points

Other rate and point options available.

Rates have been variable. These are up on average .20% from last quarter. Now is the time to secure that fixed interest rate loan before they continue to rise!

Kevin can be reached via email or

at 781 718-3366

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

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