Hingham Real Estate Review and Market Insights

Second Quarter

2014

  
The Hingham Shipyard - our newest destination in town!
summer animation Summertime!

 

Greetings all,

 

It is summertime and we all deserve the warm weather after such a nasty winter and spring.  May I say that we also "deserve" the good news of the local real estate market?  Yes, the Hingham real estate market has rebounded with a significant growth in sales volume, transactions and even median/average price from a year ago!

 

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 sellersIn 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. 

 

Inventory is down and buyer demand is up- you know what that means!  It is a great time to consider selling.  Please let me know if I can assist you with market evaluation for your house or help you find that special new home
 
Mortgages-As always I have mortgage rate information in the right column and Kevin Byrne at NEMoves Mortgage is my 'Go To' person as he is responsive, professional, reliable and offers very competitive mortgage rate options.   

 

New section on local resources-Read about Natalie Ahern's new business- All The Right Moves.

 

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 
Q1-2 2014 Hingham Single Family
Real Estate Fast Facts  
  If you are just looking for the facts, here are the
  Q1-2 2014 vs. Q1-2 2013 statistics
   

 

 

Changes Favoring Sellers

 

 

Q1-2 2014

Q1-2 2013

% Change

Total Sales

 $99,101,285

 $85,800,823

 15.5%

# of Homes Sold

 123

 116

 6.0%

Days on the Market

 106

 132

 (24.7%)

Average Sale Price

 $805,702

 $739,662

 8.9%

Median Sale Price

$660,000

 $609,000

 8.4%

Sales to List Price Ratio 

 96%

 96%

 0%

Average Sale Per Square Foot 

 $317

 $302

 5.0%

 

 

Changes Favoring Buyers

 

Current Inventory
7/6/2014
7/6/2013
% Change
# Homes on the Market
120
113
6.2%

Months of Inventory

5.85 

5.85 

0% 

 

Source: Multiple Listing Service Property Information Network Inc.  

  Hingham Real Estate Q1-2 2014 Summary

   
Business is Way Up!
 
The results for Q1-2 2014 are up from a year ago in all major categories. In Hingham single family home sales totaled over $99 million in Q1-2 2014 versus over $85 million for the same period in 2013. This is an increase of 15.5%. During Q1-2 2014 there were 123 homes sold versus 116 in Q1-2 2013. This is an increase of 6%.  In Q1-2 2014 the average days on the market was 106, a 24.7% decrease vs.132 in Q1-2 2013.
 
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).  In addition, the median sale price is up by 8.4% from a year ago to $660,000 and the average price is up 8.9% to $805,702.  This is the first time both metrics have shown growth during the last few years. Indeed very encouraging news. 
  
Currently there is a 5.8 month inventory of homes available, which is the same from a year ago. In general, almost all metrics this quarter favor sellers, other than a slight increase in homes on the market.
 
A 13-Year Perspective.....
 
    
 
The Q1/2 2014 median sale price was $660,000, up from  $609,000 of a year ago. 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 Q2 2014

 

Address

Sale Price

Days On

The Market

Price per

Square Foot

84 High Street 

 $520,000

 154

 $300

 30 Pleasant St.

 $635,000

 22

 $368

 9 Tower Road

 $719,000

 19

 $395

 6 Rice Road

 $742,000

 35

 $353

 138 Central Street

 $765,000

 150

 $286

 65 Bel Air Road

 $769,000

 35

 $358

 6 Minuteman Rd.

 $895,000

 21

 $354

 15 Burditt Avenue

 $850,000

 40

 $340

 54 Pleasant St.

 $1,070,000

 32

 $324

 260 Main Street

 $1,396,000

 25

 $450

 22 Maryknoll Dr.

 $1,580,000

 126

 $248

 608 Main Street

 $1,760,000

 104

 $411

 32 Bel Air Road

 $2,227,500

 97

 $490

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Q1-2 2014

 

Town

Total Sales

% change

from

Q1/2 2013

Avg

Days

on

Mkt.

# of

Units

Sold

Median Sale Price

Cohasset

 $41,736,901

 (3.4%)

 130

 51

$695,000

Duxbury

 $76,988,625

 5.2%

 131

 101

$589,975

Hingham

 $99,101,285

 15.5%

 106

 123

$660,000

Norwell

 $35,824,104

 (13.6%)

 148

 59

$575,000

Scituate

 60,879,424

 32.7%

 117

 107

$495,000

 

 

Hingham, Scituate and Duxbury show significant year-over-year growth in all categories.  Cohasset and Norwell's statistics are off from 2013 but they saw significant growth from 2012 to 2013.  I will continue to monitor the trends and provide insights where appropriate.

 
Source: Multiple Listing Service Property Information Network, Inc
In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Statistics

 

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

 

 Real Estate in the Media.....

front-door-sm.jpg  

boston globe

 

Time to Sell! 

Read The Boston Globe article entitled:

 

 

 

Bidding Wars are Back!

Some helpful hints below....

 

6 tips to win a bidding war for your next home 

 

Client Feedback

  

22 Maryknoll Drive

Hingham

 

Pam Bates is absolutely the best real estate agent I've had.  She worked harder than any agent I have ever seen to find the right buyers for my house, and to find a new house that would fit my needs now and into the future.   Pam was professional and persistent, helping me to stay focused on my goals even when the process got tedious and I was ready to buy something less than ideal.  Pam looked after my interests during every step of the process, and I highly recommend her as a real estate agent.

Susan Pett

22 Maryknoll Drive and

40 Fairview Street

 

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

 

Looking for Homes! 

house-front-sm.jpg   

There are buyers shopping now for homes in Hingham and surrounding communities.  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

 

 

Featured

Local Resources

 

 

Need help getting organized for a move?  Have a parent or loved one that is downsizing and overwhelmed with the process?

 

I highly recommend consulting with my good friend Natalie Ahern from All The Right Moves.

www.alltherightmovesboston.com

 781-724-1681

 

  

Natalie Ahern
Founder and Principal
All the Right Moves
Move Management
 

Natalie and her dedicated crew understand the emotional and physical challenges of most transitions.   They know that your home and its contents are not just "stuff" but are a lifetime of collected memories.  They will treat you and your belongings with respect as they guide you in your transition.  All team members are fully insured and incredibly hard working!  Did I mention their great sense of humor?...

 

Today's Rates


mortgage rate
Interested in finding out about mortgage rates?

 

Kevin Byrne, Coldwell Banker's full-time Vice President Mortgage Specialist can recommend a mortgage plan to fulfill your needs.

As of July 8, 2014 the following rates are available:

-30 year fixed: 4.125% + 0 points
-FHA 30 year fixed: 3.75% + 0 points
-30 year Jumbo fixed: 4.125% + 0 points
-15 year fixed: 3.125% + 0 points
   
Other rate and point options available.
  
Rates have been variable.  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

 

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

Find me on Facebook

 

As well as on LinkedIn

View my profile on LinkedIn 

 

And Twitter as well

Follow me on Twitter

 

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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