Hingham Real Estate Review and Market Insights

End of Summer

2015
    Hewitt's Landng Marina and Alma Nove Restaurant in the beautiful Hingham Shipyard
 summer animationEnd of Summertime!

 

Greetings all,

 

We made it through a winter for the record books!  Fortunately for us the colossal pile of snow at Hingham's Bathing Beach parking lot is but a memory.  However, the landmark winter did effect real estate results for the first half of the year. Our  asty winter pushed back the season which really started in May and has continued throughout the summer. 

 

Interestingly, the number of homes sold and total sales volume are down from last year BUT median and average sale prices are way up!  Statistically it is a bit of a mixed bag. I attribute the drop in transactions and sales volume to the unprecedented winter that stalled sales.  On the flip side, I have  seen many homes sell at or above list price so far this year which is very encouraging news.  

 

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.  Total sales and # of homes sold are more advantageous to buyers. The rest of the statistics all favor 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.  Thinking of selling this Fall?  Let's talk.  It is also never too early to start planning for the Spring real estate market. If you would like an opinion of value and a suggested home improvement list with references of reputable contractors, please let me know.   I am pleased to assist you with market evaluation for your house or help you find that special new home. 
 
Mortgages- I have provided the latest on mortgage rates from Kevin Byrne, our in-house mortgage specialist.  He is my 'Go To' person as he is responsive, professional, reliable and offers very competitive mortgage rate options.   

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 
January-August 2015 Hingham Single Family
Real Estate Fast Facts  
  If you are just looking for the facts, here are the
  Jan-Aug 2015 vs. Jan-Aug 2015 statistics
   

Changes Favoring Buyers

 


1/2015- 8/2015
1/2014-8/2014
% Change
Total Sales
$142,297,483
$164,750,840
(15.8%)
# of Homes Sold
165

205
(24.2%)


 

Changes Favoring Sellers

 

 

1/2015-8/2015

1/2014-8/2014

% Change

Days to offer

 62
 

63

 (1.6%)
 

Average Sale Price
 

$862,409
 

$803,663
 

7.3%
 

Median Sale Price
 

$767,500
 

$665,000
 

15.4%
 

Sales to List Price Ratio
 

97%
 

97%
 

0%
 

Average Sale Per Square Foot

$334
 

$319
 

4.7%
 


 

Current Inventory
9/3/2015
9/3/2014
% Change
# Homes on the Market
115
149
(29.6%)

Months of Inventory

5.7 

5 7 

0%


 

Source: Multiple Listing Service Property Information Network Inc.  

Hingham Real Estate January-August 2015 Summary

   
A Mixed Bag.....
 
The results for the first half of 2015 are a mixed bag.  In Hingham single family home sales totaled over $142 million in January-August 2015 versus over $164 million for the same period in 2014. This is an decrease of 15.8%. During January-August 2015 there were 165 homes sold versus 205 during the sale period in 2014. This is a decrease of 24.2%. Both these metrics were severely effected by the unprecedented winter season which delayed the spring real estate selling season.

I have started to track Days to Offer vs Days on the Market. The difference is Days to Offer measures time on the market prior to an accepted offer.  Days on the Market includes time for contingencies-inspections, financing, etc. I believe Days to Offer is a better metric to measure  the demand for homes on the market.  In 2015 so far it has been an average of 62 Days to Offer vs 63 Days to Offer in 2014.  
 
The best news is that both the median and average sale price are way up from 2014!  Median sale price is up by 15.4% from a year ago to $767,500 and the average price is up 7.3% to $803,663.  Very encouraging news for home owners. 
  
Inventory on the market is down by almost 30% from a year ago. Again, sellers this is great news!. 
 
A 10-Year Perspective.....
  
The YTD median sale price is $767,500 up from $665.000 of a year ago. In Hingham during the past 10 years the median price has ranged from $610,000 in 2009 to a high of today's market at $767,500!

 .

   Source:  Multiple Listing Service Property Information Network, Inc
  

A Sampling of Hingham Home Sales

 January -August 2015

 

Address

Sale Price

Days Before Offer

Price per

Square Foot

3 Roc Fall 

$483,000 

4 

$370 

28 Butler Road 

$611,500 

3 

$398

79 Central St.  

$710,000 

6 

$422 

5 Sanborn Rd. 

$703,000 

5 

$359 

27 Talbot Road 

$789,500 

101 

$635

6 Sherman Way 

$925,000 

2 

$272 

20 Governor Long

$1,100,000

5

$467

262 Main Street

$1,115,000

60

$408

59 Pleasant Street

$1,240,000

6

$365

120 Central Street

$1,494,000

6

$345

73 Winter Street

$1,569,000

159

$393

6 Clark Road

$1,505,000

96

$389

11 Isaac Sprague 

$1,656,000

16

$374

8 Brewer Way$2,050,0008$354
24 Mann Street$2,500,00061$475

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 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

January- August 2015
 

Town

Total Sales

% change

from

2013

Avg

Days

to

Offer

# of

Units

Sold

Median Sale Price

Cohasset

$ 65,500,174

(17.8%)

77

65

$778,000

Duxbury

$ 80,148,848

(34.1%)

83

120

$583,000

Hingham

$142,297,483

(15.8%)

62

165

$767,500

Norwell

$ 61,565,475

(3.8%) 

71

98

$608,025

Scituate

$103,133,293

8.5%

49

180

$492,500

 

All towns except Scituate showed a drop in total sales from the prior year, primarily due to the extended winter season. Scituate is bucking the trend as their sales volume is up 8.5% from the prior year.  Their Days to Offer statistic and Median Sale Price are both much lower and correlate to each other. 


 

Source: Multiple Listing Service Property Information Network, Inc

Why Coldwell Banker?  

 

As many of you know, Coldwell Banker is the largest real estate office in Hingham with almost 50% market share. When I was evaluating real estate companies, market share influenced my decision when I joined this local real estate powerhouse. Since joining Coldwell Banker, I have learned that the value of my affiliation goes well beyond market share. To me there are several differentiating factors:

Hub of Local Market Knowledge- Our office has over 90 agents in our office and we are home to 9 of the top 10 agents in town. We tour new listings on Tuesday (Coldwell Banker) and Friday (other new listings). That is tremendously valuable information.

Synergy and Insights-Have a question? Agents will share their expertise. Need help with pricing a home? Agents will be there to assist.

Marketing Expertise and Investment-Coldwell Banker has invested extensively in marketing programs to connect buyers and sellers. Most notably a comprehensive internet presence and affiliation with ALL real estate websites.

Ethics and Integrity- Coldwell is part of one of the World's Most Ethical Companies, Realogy Holdings Corporation. 2015 was the third year in a row Realogy received this honor. My days at American Express taught me you are known by the company you keep and the way you treat customers and clients.
A Real Estate Career in your Future? - I would be pleased to speak with you about my experience! Just let me know a good time to chat.  
 
Pam Bates
(617) 240-1292
Otis Hill Homes for Sale  
Would you like to live in this wonderful 
and eclectic neighborhood near Hingham Harbor/Square/Shipyard, Foster School, Commuter Ferry/Rail and enjoy waterviews?
 
38 Rice Road
$699,000
 
 Sunfilled family room and dining area 
adjacent to kitchen
  
Stainless/granite kitchen 
and peninsula seating
 
 Beautiful living room with dining area 
adjacent to an expansive deck 
 
WALLS OF GLASS AND LIGHT create a warm and inviting home overlooking woodlands and BROAD COVE in the winter! This 4 bedroom home features GRANITE AND STAINLESS APPLIANCE KITCHEN with breakfast bar and adjacent family room. Master suite includes full bath, dressing room, fireplace, deck and office alcove. Spacious fireplaced living room and dining room are adjacent to a large expansive deck that offers privacy while overlooking woodlands and Broad Cove. On the lower level are 2 bedrooms that share a newly renovated bath PLUS A NEW SUITE with open concept kitchen/living room/dining area, bedroom and full bath! Could be wonderful game room, guest, in-law or au pair suite. A great opportunity to enjoy Otis Hill/Crow Point with the convenience and easy access to Hingham Square/Waterfront/Shipyard and more while also the privacy of living at the end of a dead end street. 1 year home warranty included.
 
OPEN HOUSE THIS SUNDAY, SEPTEMBER 6 1-3PM.  If you would prefer to schedule a private showing, please contact me.

 
COMING SOON......14 Otis Hill Road

  

WOW- what a combination!  NEW CONSTRUCTION in this neighborhood with WATERVIEWS of Hingham Harbor. This  2700 sq. ft. home features an open concept floorplan with a beautiful center island granite/stainless kitchen, gas fireplaced living room, dining area, mudroom and deck overlooking the harbor.  4 bedrooms including beautiful master suite on the second floor and bonus room on third floor with additional bath. More details to follow shortly.....

In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Statistics
Why Coldwell Banker?
Otis Hill Homes for Sale

 

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

 

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

 

 (I included this video in a prior newsletter but just had to include it again...if you missed it last time, please take the time to view it!)

Client Feedback
 
120 Central Street, Hingham
Gracious  in-town brick colonial
Beautiful granite/stainless kitchen
 
"Pam sold our house in five days at full price! She worked side by side with us from beginning to end to get it ready for sale, stage it and coordinate showings. Every showing was by appointment, we never had a call from the curb from her saying, 'I'm at your door with clients - can we come in?' "
 -Mike and Mary Jenkins
Sold July 2015
On the market 5 days

50 Lawton Road, Needham
 1930s colonial near Needham Golf Club
 
"Pam is the ideal real estate agent.  She is a professional with a  heart.  I can not say enough about the positive experience I had with her.  I am willing to highly recommend her to anyone who is thinking about conducting a real estate transaction."
- Charlotte Wood-Harrington
 
There is no greater compliment than the referral from your family, friends and previous clients.

Looking for Homes! 
house-front-sm.jpg   
There are still buyers shopping for homes in Hingham and surrounding communities.  Fall is the second busiest real estate season. 
fall clipart

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.
 
c: 617 240-1292

 

Real Estate in the Media

 

hingham   

   
boston globe 
Earlier this year The Boston Globe wrote an article entitled,
 

 "What is it like to live in Hingham?" 


     

 "Homes are getting more expensive all over Mass., but these towns have it worst."

 

 (Yes, Hingham made the list)

 

school-bus.jpg

It is back to school time....in case you are wondering, here is Boston.com's ranking of top public high schools in the Boston area.

 

(Yes, Hingham made the list and the top high school on the South Shore)

 

 

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 September 4, 2015  the following rates are available:

-30 year fixed: 3.75% + 0 points  
-FHA 30 year fixed: 3.5% + 0 points
-30 year Jumbo fixed: 3.75% + 0 points
-15 year fixed: 3.25% + 0 points
-7/1 ARM 3% + 0 points

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 
 
 Useful Resources
 

 
A Big Thank You!
Thank you for making me one of the Top 20 realtors on the South Shore for July 2015 and also 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
Find me on Facebook
 
As well as on LinkedIn
View my profile on LinkedIn 
 
And Twitter as well
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Other Resources
Have you visited New England's #1 real estate website? Click below for ColdwellBankerHomes.com, the new name for NewEnglandMoves.com.