2023 Year End

Hingham Real Estate Review

and Market Insights

Abraham Lincoln statue on Lincoln St covered with a blanket of snow

What a difference a year makes...

Hello Pamela,

Happy New Year! I hope you enjoyed time with family and friends over the holidays.

What is happening in the local real estate market? I would describe 2023 as a year of corrections. In Hingham we had 3 years of unprecedented and rapid growth. The median sale price grew by 57% during that time. In my opinion, that was not a healthy market and now the market has adjusted accordingly. In 2023 we saw fewer homes sold, at a lower median sale price and taking longer to sell. Yet the median sale price is still 50% higher than 4 years ago. We are also starting to see inventory improving which is good for buyers. As I mentioned in previous newsletters, the market stalled when mortgage interest rates started to do a rapid acceleration in 2022. Fortunately we are starting to see some moderation in mortgage rates and experts believe that will help make 2024 a better real estate year.

Inventory- Over the past few years we have had a lack of inventory to meet demand. That trend continues but it is improving. Right now we have 1.6 months of inventory. It is important to note that we typically have the lowest number of homes on the market during the first quarter. A balanced market has 4-6 months of inventory.

Interest Rates- It is no surprise that interest rates have increased over the past 18 months but are starting to moderate. See the latest rates below, provided by Kevin Byrne of Movement Mortgage. He is my "Go To" person as he is responsive, professional, reliable and offers very competitive mortgage rate options. While rates have increased, if you have a long view of the market, these interest rates are still competitive and there is an expectation that they will be in the 6-7% range for 2024.

2024- Forecasters predict a more balanced market for 2024. If you live locally and are thinking about making a change, let's chat. NOW is a great time to think about selling. Home prices are still high and there is still high demand from Hingham buyers. We need homes to sell!

A Favorite Local Business- I have included some information below on one of my favorite new local businesses called Noted. It is a gift shop at Queen Anne Corner, next to Bank of America. They specialize in handmade candles of all different scents and they even offer candle making classes! I hope you will check them out.

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.


Pam Bates

Coldwell Banker Realty

Hingham, MA

P.S. If you or a friend/family member is thinking of purchasing or selling real estate in another market, please reach out to me. I can provide you with a referral to a qualified Coldwell Banker agent wherever in the world!

Boston's South Shore Real Estate Resource

Pamela Bates 


Relocation Specialist

Notary Public 

Coldwell Banker President's Elite

Top 3% of Coldwell Banker associates internationally


Thank you for your continuous support!

Have you checked out my new website, www.PamBates.com?

There is great information about various South Shore communities, selling and buying tips/tricks and more. Of course you can search for your next home as well!

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In addition to news on the local real estate market, I feature local businesses, buyer and seller tips, as well as a signature cocktail of the month with my son, Trevor! We feature them on Facebook and Instagram every month. You can follow on the link below. Cheers!

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Why you should sell in 2024

  1. Sale prices are still high
  2. Inventory is low
  3. Mortgage rates are moderating

If you are thinking of selling in 2024, NOW is the time to start planning. Please reach out so we can connect.

Market News

2023 Hingham Single Family Statistics

The market has dramatically shifted and now most metrics favor buyers. However, the lack of inventory makes this still a seller's market. Median sale price is now $1.2M, that is down slightly from a year ago. We are starting to see more homes come on the market and taking longer to sell. All good news going into 2024.

Source for all data: Multiple Listing Service Property Information Network, Inc

Hingham Median Sale Price

Hingham's median sale price is currently $1,200,000. That is slightly off from a year ago when it was $1,250,000.

2023 South Shore Single Family Market Statistics

All towns but one showed a decline in overall sales, ranging from 17.5% in Hingham to 47% in Cohasset. And the winner for 2023 is Marshfield! Why are Marshfield's sales up 7.1% ? The median price is lower than all other towns in this analysis and I suspect buyers, who were priced out of other communities, chose to purchase in Marshfield.

Client Feedback


87 North Street, Hingham

Pam was amazing through every step of the process in buying our new home. She was patient while we looked around at different homes to find the right fit. Then when it came time to putting in offers and getting the deal done, she was very knowledgeable. I most appreciated her quick response time via email and text. Truly professional and friendly, I would recommend Pam with 5 stars!

-Julia Duros, 87 North Street, Hingham

Can I assist you in achieving your real estate goals in 2024? 😊

Today's Rates

Kevin Byrne now of Movement Mortgage

can recommend a mortgage plan to fulfill your needs.

As of 1/19/24 the following rates are available:

30 Yr Fixed – 6.99% + 0 pts

30 Yr FHA – 7.0% + 0 pts

30 Yr Jumbo – 6.75% + 0 pts

15 Yr Fixed - 6.75% + 0 pts

7/1 ARM – 6.5%+ 0 pts

Rates are down slightly from 6 months ago.

Other rate and point options available.


 Contact Kevin for any of your mortgage questions.  


e: [email protected]

c: 781 718-3366 

w: www.KevinByrne.com

Interesting News Articles For You

Housing Market Forecast 2024

Forecast for 2024 buyers and renters in the Boston market

2024 Housing Predictions

A New Favorite Local Business

Have you visited Noted yet? It is a wonderful gift shop located at Queen Anne Corner, right next to Bank of America. They have various types of gift items and specialize in hand made candles. There are so many scents! In addition, they offer candle making classes and have a robust website if you would prefer to do some armchair shopping. I hope you will check them out when looking for a gift for someone or perhaps yourself!

Holiday Cheer and Happy New Year from my family to yours!

About Me




56 South St
Hingham, MA 02043

M: 617-240-1292
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