Hingham Real Estate Review and Market Insights

Third Quarter

2014

World's End in Fall- spectacular!

Fall is here!

Greetings all,

Fall is here and it is my favorite season in Hingham. Warm days, cool nights and beautiful soft light to highlight the changing foliage. With this season I can also share good news for the Hingham Real Estate Market. We continue to see 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 sellers. In this issue I am pleased to report they are all 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. Fall is the second busiest time of year to list homes. You can read an article about How to Prepare Your Home for the Fall Market in the right column. I have also included an article on Professional Staging Tips to a Quick Real Estate Sale. 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 local architect, Roger Hoit. Perhaps you may have seen his signature turquoise signs around town?

Thank you everyone! For the months of July and August 2014, I was one of the Top 20 Brokers on the South Shore. Many thanks for all your support!

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

Q1-3 2014 Hingham Single Family

Real Estate Fast Facts

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

Q1-3 2014 vs. Q1-3 2013 statistics

Changes Favoring Sellers

	Q1-3 2014	Q1-3 2013	% Change
Total Sales	$177,705,256	$160,507,212	10.7%
# of Homes Sold	223	210	2.1%
Days on the Market	98	111	(13.2%)
Average Sale Price	$796,885	$764,320	4.3%
Median Sale Price	$665,000	$644,000	3.3%
Sales to List Price Ratio	97%	97%	0%
Average Sale Per Square Foot	$320	$311	2.9%

Current Inventory	10/6/2014	10/6/2013	% Change
# Homes on the Market	111	125	(12.6%)
Months of Inventory	4.4	5.5	(22.7%)

Source: Multiple Listing Service Property Information Network Inc.

Hingham Real Estate Q1-3 2014 Summary

Good News Continues!

The results for Q1-3 2014 are up from a year ago in all categories. In Hingham single family home sales totaled over $177 million in Q1-3 2014 versus over $160 million for the same period in 2013. This is an increase of 10.7%. During Q1-3 2014 there were 223 homes sold versus 210 in Q1-3 2013. This is an increase of 2.1%. In Q1-3

2014 the average days on the market was 98, a 13.2% decrease vs.111 in Q1-3 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 3.3% from a year ago to $665,000 and the average price is up 4.3% to $796,320. This is the first year both metrics have shown growth during the last few years. Indeed very encouraging news.

Currently there is a 4.4 month inventory of homes available, which is down from 5.4 months from a year ago.

A 12-Year Perspective.....

The Q1-3 2014 median sale price was $665,000, up from $644.000 of a year ago. In Hingham during the past 12 years the median price has ranged from $500,000 in 2002 to a high of $670,000 in 2010.

Source: Multiple Listing Service Property Information Network, Inc

A Sampling of Hingham Home Sales Q3 2014

Address	Sale Price	Days On The Market	Price per Square Foot
3 West Street	$415,000	264	$186
650 Main Street	$505,000	10	$355
255 North Street	$579,000	20	$412
125 Free Street	$665,000	41	$442
259 Main Street	$667,000	61	$340
40 Fairview	$785,000	14	$347
40 Spring Street	$1,000,000	24	$336
279 North Street	$915,000	49	$311
30 Gov. Long Rd	$1,125,000	36	$477
143 Summer St	$1,250,000	250	$311
15 Ocean View Dr	$1,350,000	37	$358
3 Seal Cove Rd	$2,750,000	152	$423
10 Martins Cove Rd	$3,225,000	77	$460

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

Q1-3 2014

Town	Total Sales	% change from Q1-3 2013	Avg Days on Mkt.	# of Units Sold	Median Sale Price
Cohasset	$ 88,398,454	2.2%	120	102	$729,500
Duxbury	$125,388,480	3.8%	101	184	$550,000
Hingham	$177,705,256	10.7%	98	223	$665,000
Norwell	$ 69,239,605	(7.8%)	125	114	$545,000
Scituate	$113,578,448	25.8%	107	196	$491,750

Hingham and Scituate showed signficant year-over-year growth in all categories. Duxbury's overall volume and median price is up, however the number of homes sold is less this year. Cohasset 's volume is up slightly but the median price is down significantly. 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

Statistics on Boston Neighborhoods and Suburbs North & West of the City

Interested in knowing how the rest of the Boston market is doing? Read on....

My colleague and sister-in-law Karen Dempsey-Carney follows the entire Boston Metropolitan area. Click here and you will see stats of Lexington, Brookline, Wellesley, Manchester and more. If you would like to see stats on Boston neighborhoods, Click here.

Should you be considering a move to Western Suburbs, North Shore or Boston proper and are looking for a Realtor, Karen is a wealth of knowledge and a wonderful broker!

Thank you Karen~

Karen Dempsey-Carney

Alliance Relocation

Owner/Broker

617-424-1988

kdempsey@AllianceRelo.com

ALLIANCE RELOCATION

Exclusive Homes

www.alliancerelo.com

60 State Street, #700

Boston, MA 02109

In This Issue

Just The Facts Please

Hingham Real Estate Summary

South Shore Statistics

Stats on Boston and Metro West/ North Suburbs

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.....

5 Tips to Sell Your Home In The Fall

5 Staging Secrets Professionals Use to Sell Homes Fast

Client Feedback

New Construction at

15 Ocean View Drive, Hingham

Views from the back of the house-

almost looks like a painting!

"We relocated to Boston from Atlanta, and Pam was exceptionally helpful in teaching us about the south shore and its different areas, as well as activities and schools for our kids. Her expertise, responsiveness, and patience throughout the home search process were invaluable in helping us find the right neighborhood and home to raise our family. We always knew we were in good hands with Pam and will recommend her to anyone. Thanks, Pam!"

Eric and Kristen Autio

15 Ocean View Drive

Hingham, MA

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

Looking for Homes!

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

If you are contemplating a house project but do not know where to start, I recommend speaking with local architect, Roger Hoit.

Roger and Nancy Hoit

Our work....

We love what we do! We enjoy working with our clients to create homes that

reflect their taste and complement the community.

Our projects are large and small, but their significance to us is not in their size or cost, but in the difference they make to the life of a family.

We enjoy working with houses of any style and period ...

... but we want to be sure that clients have open light and flowing spaces that provide the flexibility that modern families need. We enjoy the challenge of making the projects fit their sites and look as if they have always belonged there.

Roger O. Hoit, AIA

1175 Main Street

Hingham, MA 02043

Telephone: (781) 749-5563

Fax: (781) 749-5638

Send an Email:

nrhoit@rogerhoit.com

Or visit our website:

RogerHoit.com

to view samples of our work or find out more information

Today's Rates

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 October 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: 4.0% + 0 points

-15 year fixed: 3.125% + 0 points

-7/1 ARM 2.99% + 0 points

Other rate and point options available.

Rates have been variable but still very reasonable. Contact Kevin for any of your mortgage questions.

Kevin can be reached via email or

at 781 718-3366

Useful Resources

Boston's Top 20

Thank you for making me one of the Top 20 realtors on the South Shore for the months of July and August 2014! I very much appreciate all your support!

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

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