Hingham Real Estate Review and Market Insights

Year End

2015

Hingham Harbor- beautiful in any season.
  Wintertime?


 

Greetings all,

 

So far we have had no appreciable snow this winter which is fine for me, considering the record winter of 2015.  Looking back, this time last year we had no significant snow events as well...let's hope that is the only similarity between the winter of 2015 and 2016!  The landmark snowfall did effect real estate results for 2015 - our total homes sold and sales volume were down slightly.  With snow on the ground through April, it pushed back the sales season, starting in May and continuing throughout the second half of 2015.  

 

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, the average sale price is up by 8.8% and the median sale price by 15.8%!  For home owners that is great 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. 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 buyers are shopping.  Right now is a great time to consider listing when we have very little inventory and no snow on the ground. 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.   

Thank you- 2015 was a wonderful year for my real estate business and I want to thank all my clients, past and present. I am once again a Top 10 agent in Hingham for 2015 generating $25 million in combined sales between 2014 and 2015.  Thank you 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
 
Just The Facts Please 
 2015 Hingham Single Family
Real Estate Fast Facts  
  If you are just looking for the facts, here are the
   2015 vs. 2014 statistics
   

Changes Favoring Buyers

 


1/2015- 12/2015
1/2014-12/2014
% Change
Total Sales
$221,255,189
$227,415,256
 (2.8%)
# of Homes Sold
258

291(12.8%)


 

Changes Favoring Sellers

 

 

1/2015-12/2015

1/2014-12/2014

% Change

Days to offer

 64
 

66

 (3.0%)
 

Average Sale Price
 

$857,578
 

$788,369
 

8.8%
 

Median Sale Price
 

$767,250
 

$662,500
 

15.8%
 

Sales to List Price Ratio
 

97%
 

97%
 

0%
 

Average Sale Per Square Foot

$336
 

$320
 

5.0%
 


 

Current Inventory
1/7/2015
1/7/2014
% Change
# Homes on the Market
47
58
(23.4%)

Months of Inventory

2.2

2.4

(9%)


 

Source: Multiple Listing Service Property Information Network Inc.  

Hingham Real Estate January-December 2015 Summary

  
Mixed Results.....
 
The results for 2015 are a mixed bag but the overall message is very encouraging.  In Hingham single family home sales totaled over $221 million in 2015 versus over $227 million for the same period in 2014. This is an decrease of 2.8%. During 2015 there were 258 homes sold versus 291 during 2014. This is a decrease of 12.8%. Both these metrics were severely effected by the unprecedented winter weather 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  it was an average of 64 Days to Offer vs 66 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 15.8% from a year ago to $767,250 and the average price is up 8.8% to $857,578.  Very encouraging news for home owners. 
  
Inventory on the market is down by 23% from a year ago. Again, sellers this is great news!. 
 
A 10-Year Perspective.....
  
The 2015 median sale price is $767,250 up from $662,500 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 $767,250!

 .

   Source:  Multiple Listing Service Property Information Network, Inc
  

A Sampling of Hingham Home Sales

September- December 2015

 

Address

Sale Price

Days Before Offer

Price per

Square Foot

18 West Street

$457,000

64

$333

3 Studley Road

$640,500

3

$430

38 Rice Road

$645,000

267

$221

25 Rice Road

$722,000

11

$295

871 Main

$759,000

143

$322

4 Robin Lane

$789,000

9

$287

21 Butler Road

$847,000

3

$353

32 Park Circle

$899,000

1

$390

35 Otis Hill Road

$950,000

25

$327

14 Otis Hill Road

$990,000

36

$356

389 Main Street

$1,750,000

127

$432

141 Otis Street

$1,849,000

206

$513

147 Main Street

$2,175,000

116

$383

2 Merrill Street$2,450,00087$388
392 Main Street$2,441,456134$423

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
 

 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- December 2015
 

Town

Total Sales

% change

from

2014

Avg

Days

to

Offer

# of

Units

Sold

Median Sale Price

Cohasset

$112,604,601

(6.6%)

72

111

$814,000

Duxbury

$137,557,823

(14.1%)

86

195

$590,000

Hingham

$221.255.189

(2.8%)

64

258

$767,250

Norwell

$100,268,175

15.2%

76

158

$607,500

Scituate

$159,564,203

8.6%

50

286

$499,125

 

Cohasset, Duxbury and Hingham showed a drop in total sales from the prior year, primarily due to the extended winter season. Scituate and Norwell are bucking the trend as their sales volume is up 8.6% and 15.2% respectively.  Scituate's Days to Offer and Median Sale Price are both much lower and correlate to each other. 

 

Source: Multiple Listing Service Property Information Network, Inc
 Fall in Love with 26 Ship Street
Charming antique cape with waterviews in The Derby Academy Area of Hingham.
200 yards to Hingham Harbor 
and to Hingham Square!
5 bedrooms, 2.5 bathrooms
$1,349,000
Charm and character on the corner of 
Ship and Cottage Streets, Hingham
Updated kitchen with waterviews of Hingham Harbor!
   
Gracious fireplaced living room with dining area
Master suite with custom closets, fireplace, desk area, bath and waterviews when you wake up!
Beacon Hill style patio adjacent to family room and kitchen

Gracing a corner lot in the heart of the sought after Derby Academy Area in Downtown Hingham, this charming Nantucket style residence is designed for today's contemporary lifestyle. The sun-filled mudroom with custom built-ins flows into a gracious Kitchen with views of Hingham Harbor and a Family Room with a fireplace which overlooks the expansive back yard and Beacon Hill style patio. The second floor offers a recently renovated Master Suite with a fireplace and a full bath; a gracious Formal Living Room/ Dining Room with exquisite period detail. Four additional Bedrooms and a full bath complete the third level. Enjoy the views of Hingham Harbor from all three levels of this Stunning home. Walk to Town, the Train, the Commuter Boat to Boston, local Top Rated Schools and enjoy all that Hingham has to offer!


If you would like to schedule an appointment, please contact me.

Cheers,
Pam

c: (617) 240-1292
In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Statistics
Fall in Love with 26 Ship

 

Your real estate resource  
Pamela Bates 
Realtor-Certified Relocation Specialist, ABR, SRES,CNS,CHMS/
Notary Public 
Top 10 Hingham Realtors 2014 & 2015
 
 Coldwell Banker 
Residential Brokerage
 56 South Street
 Hingham, MA 02043
c: 617 240-1292

 

Real Estate in the Media

 

hingham 


     

 "Five Things to Know About Living in Hingham"

 (Wondering what made the list?) 

Client Feedback 

8 Bel Air Road, Hingham
Fully renovated colonial in Crow Point
 (was not in MLS)
 
" Pam successfully helped us move our family of four from Arlington to Hingham over the course of about 18 mos. We can truly say that, without Pam, we wouldn't be where we are today! She met with us many times to tour new homes and kept us updated as new properties were due to come on the market. Ultimately, through a connection with a local builder, Pam helped us find our 'dream home' in a fantastic neighborhood, and gracefully handled every detail of the transaction. We have worked with many real-estate agents over the years, and my wife and I can confidently say that Pam is in a class of her own. We would gladly recommend her to anyone looking in the South Shore area."
 -Ryan and Kelly Hoppe

25 Rice Road, Hingham
Contemporary in Otis Hill neighborhood
 
"The job Pam did selling our house could not have been better for us. The personal touches and the work she put into it all, 
were best in class."
-Beth and Randy Brashier

"We bought a house that Pam listed. All parties agreed that she would act as a dual agent and the purchase process went extremely well. This was not my first real estate transaction and I can say that Pam is easily the most competent, professional and friendly real estate agent I've worked  with. She was very effective and did everything on her part to make sure that the sale went smoothly and to everyone's satisfaction.  Overall, I think Pam is a terrific real estate agent and I would highly recommend her services to anyone considering buying or selling a home."
-Mike and Shannon Kacherovich
 
There is no greater compliment than the referral from your family, friends and previous clients.

Looking for Homes! 
house-front-sm.jpg   
We have very little inventory and buyers shopping! Despite being the middle of winter, NOW is a great time to list your home.  

I would be pleased to meet with you, listen to your objectives and design a personalized plan to successfully sell your home this year.  
I will also 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

Local Resources 
   

Any home renovation or construction project will include many important decisions:
 
Who, What, When, Where, & How
 
"Who" is first and foremost because connecting with industry professionals you trust is essential to a great experience and outstanding results.
 
 

Glenn Meader,
Founder and Owner
Good Life New England
 
"Who" is equally important to our team at Good Life New England, as the relationships we build with our clients are as enjoyable as the projects we design for them.
 
We would love to meet you and learn about your next project, so contact us and please mention our friend and client, Pam Bates, referred you.



For further information and see more samples of Glenn's work go to-

 
Good Life New England, LLC
Phone 781.545.1500
Design Studio Address
132 Front Street, 2nd floor
Scituate, MA  02066

(Glenn was our kitchen and bath designer when we renovated our home.  He is incredibly talented and I highly recommend him.)

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 January 11, 2016  the following rates are available:

-30 year fixed: 3.875% + 0 points  
-FHA 30 year fixed: 3.75% + 0 points
-30 year Jumbo fixed: 3.875% + 0 points
-15 year fixed: 3.25% + 0 points
-7/1 ARM 3.125% + 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

sold-icon.gif  
A Big Thank You!
Thank you for making me one of the Top 10 Hingham Realtors in 2014 and 2015 selling a combined sales volume of $25 million in local real estate.  I very much appreciate all your support!

2015 International President's Circle

2014 International Diamond Society

 
Thank you for making me one of the South Shore's Top 20 realtors for 2015!


Thank you for designating me a 
5- star agent on
 trulia  and


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.