Hingham Real Estate Review and Market Insights

Year End

2014

World's End path in Winter, beautiful all year round. Please click on a link below to view an outstanding 2 minute video on our beloved World's End.

Welcome to Winter!

Greetings all,

Welcome to 2015! It feels like winter although we are lacking in snowfall this year so far. Yet as New Englanders know that we have months of winter left and no doubt we will be seeing snow before long.

Fortunately for all, 2014 was a very good year for the local real estate market and forecasts are for another strong year during 2015. 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. It is never too early to start planning for the Spring real estate market! Buyers are even shopping now so if you are thinking of making a change this year, let's talk. Please let me know if I can assist you with market evaluation for your house or help you find that special new home.

Mortgages- WOW- Take a look at the rates in the right column! They are the "lowest ever" according to Kevin Byrne at NEMoves Mortgage. He is my 'Go To' person as he is responsive, professional, reliable and offers very competitive mortgage rate options.

Thank you everyone! In 2014, I was one of the Top 10 Hingham realtors! I very much appreciate your business, support and referrals.

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

Q1-4 2014 Hingham Single Family

Real Estate Fast Facts

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

Q1-4 2014 vs. Q1-4 2013 statistics

Changes Favoring Sellers

	Q1-4 2014	Q1-4 2013	% Change
Total Sales	$229,415,256	$201,161,912	14.0%
# of Homes Sold	291	262	11.1%
Days on the Market	104	113	(8.7%)
Average Sale Price	$788,369	$767,794	7.7%
Median Sale Price	$662,500	$650,000	1.9%
Sales to List Price Ratio	97%	97%	0%
Average Sale Per Square Foot	$320	$313	2.2%

Current Inventory	1/12/2015	1/12/2014	% Change
# Homes on the Market	59	79	(34%)
Months of Inventory	2.5	3.6	(44%)

Source: Multiple Listing Service Property Information Network Inc.

Hingham Real Estate Year End 2014 Summary

Good News Continues!

The results for 2014 are up from a year ago in all categories. In Hingham single family home sales totaled over $229 million in 2014 versus over $201 million for the same period in 2013. This is an increase of 14%. During 2014 there were 291 homes sold versus 262 in 2013. This is an increase of 11.1%. In 2014 the average days on the market was 104, a 8.7% decrease vs.113 in 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 1.9% from a year ago to $662,500 and the average price is up 7.7% to $788,369. This is the first year both metrics have shown growth during the last few years. Indeed very encouraging news.

Currently there is a 2.5 month inventory of homes available, which is down from 3.6 months from a year ago. As of 1/12/2014, there are only 59 houses on the market in Hingham.

A 12-Year Perspective.....

The year end 2014 median sale price was $662,500, up from $650.000 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 Q4 2014

Address	Sale Price	Days On The Market	Price per Square Foot
25 Surry Road	$330,000	79	$347
18 Coolidge Ave	$375,000	19	$270
51 Elm Street	$560,000	84	$383
51 Thaxter Street	$600,000	139	$287
55 Garrison Road	$630,000	36	$370
957 Main Street	$797,200	38	$305
42 Elm Street	$893,000	15	$398
35 Otis Hill Road	$900,000	60	$310
17 Middle Street	$999,000	21	$331
712 Main Street	$1,300,000	18	$330
171 Otis Street	$1,370,000	140	$365
156 Prospect Street	$1,669,000	22	$357
1 Steamboat Lane	$2,750,000	919	$385

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 2014

Town	Total Sales	% change from 2013	Avg Days on Mkt.	# of Units Sold	Median Sale Price
Cohasset	$120,088,137	(2.3%)	125	135	$750,000
Duxbury	$156,941,297	(4.1)%	115	204	$589,938
Hingham	$229,415,256	14.0%	104	291	$662,500
Norwell	$ 87,055,287	(7.4%)	122	146	$522,500
Scituate	$146,318,919	19.2%	113	251	$500,000

Hingham and Scituate showed signficant year-over-year growth in all categories. Duxbury's overall volume and the number of homes sold is less but the median price is up. Cohasset 's volume is off slightly, the number of sales is up and the median price is down significantly (by almost $200,000). 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

Opportunity Knocks......

27 Talbot Road, Hingham

Listed at $829,000

Rarely does a property like this come on the market! PANORAMIC WATERVIEWS to the east of Hingham Harbor and Worlds End and all the way to the west of The Boston Skyline with amazing sunsets! This 12,600 sq. ft. lot is high up on the top of Otis Hill, situated on a quiet dead end street with both PRIVACY AND CONVENIENCE. The property now has a 3 bedroom/2 bath gambrel cape which can be renovated and expanded or a buyer may wish to start fresh and build a custom home of their dreams. A unique opportunity.....bring your imagination! Please contact me for a private showing.

Further details and more pictures of this property can be seen on the link below:

27 Talbot Road, Hingham

Pamela.Bates@nemoves.com

c: (617) 240-1292

PS As an added bonus you would be my neighbor!

In This Issue

Just The Facts Please

Hingham Real Estate Summary

South Shore Statistics

Opportunity Knocks....

Your real estate resource

Pamela Bates

Realtor-Certified Relocation Specialist, ABR, SRES,CNS,CHMS/

Notary Public

Top 10 Hingham Realtors 2014

Coldwell Banker Residential Brokerage

56 South Street

Hingham, MA 02043

c: 617 240-1292

email: pamela.bates@nemoves.com

Visit my website

www.PamBates.com

Love World's End?

Click on this link to see a breathtakingly beautiful video of this

Trustees of Reservations' gem

Click here to view the World's End video

Client Feedback

10 Martins Cove Road, Hingham

Beautiful shingle style home

Spectacular backyard

Impeccable home with every room

masterfully appointed

"Pam coordinated the listing and sale of our home with complete professionalism. We truly felt we were in the best of hands at all times. Of particular note was her organization and market knowledge....from the scheduling of showings and always thorough follow-up through the negotiation of the sale and the closing. Pam made the entire home sale experience a very positive one and we are grateful."

-Steve and Alicia Bolze

Sold August 2014

On the market 77 days

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

Real Estate in the Media

"Area towns among nation's priciest home markets"
Click on the link above to read where Hingham and other Boston suburbs ranked both regionally and nationally with the listing price of a 4 bedroom/2 bath home....

(Hint: Hingham is #4 in Massachusetts)

Zillow features:

"Selling a Home in 2015: 5 Resolutions for Success"

Click on the link above to read on how to successfully sell a home in 2015...
(Hint: #4 is choosing the right agent!)

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 January 13, 2015 the following rates are available:

LOWEST EVER!

-30 year fixed: 3.375% + 0 points

-FHA 30 year fixed: 3.25% + 0 points

-30 year Jumbo fixed: 3.5% + 0 points

-15 year fixed: 2.875% + 0 points

-7/1 ARM 2.75% + 0 points

WOW- these rates have dropped between 20-75 basis points from 3 months ago!

Other rate and point options available.

Contact Kevin for any of your mortgage questions.

Kevin can be reached via email or

c: 781 718-3366

website: www.KevinByrne.com

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 and one of the Top 10 Hingham Realtors in 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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