Hingham Real Estate Review and Market Insights

Summer 2018

Beautiful Worlds End on a summer's eve- magical!
                                     

  summer animation It's summer!
 
Greetings all,
 
What a special time of year when days are long and the weather is mild! I hope you have enjoyed some time with family and friends over the July 4th holiday.  Many clients and friends ask me, "How is the Hingham real estate market?" The answer to that question is  GREAT!  Below you will see first half 2018 results.
 
Every metric reported below is UP from last year.  Total volume and number of homes sold is way up.   All great news for sellers.  It is rare for all metrics to be favorable and that means it is a sellers market.  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 case they all favor sellers.  There is also an analysis to summarize what all the statistics mean for our local real estate market. 

Experts predict the strong local real estate market will continue for the rest of 2018.  Sellers -this is a great time to consider a change 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 a 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, who is now with Blue Hills Bank.  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 
numbers-toy.jpg  
 
Q1/2 2018 Hingham Single Family
Real Estate Fast Facts   
  If you are just looking for the facts, here are the
   Q1/2 2018 vs Q1/2 2017 statistics
   

Changes Favoring Sellers

 

 

1/1/2018-

6/30/2018
 

1/1/2017-

6/30/2017

% Change

Total Sales $125,943,649 $97,323,254 29.4%
# of Homes Sold 136 109 24.8%
Sales to List Price Ratio
98%
97%
1.0%
Average Sale Price $926,056 $892,874 3.7%
Median Sale Price $792,000 $775,000 2.2%
Average Sale Per Square Foot
$363
$350
3.7%
Days to Offer
46 50
(8.7%)


 

Current Inventory
7/2/2018
7/2/2017
%
 Change
# Homes on the Market
148
129
14.7%

Months of Inventory

6.5

7.1

(9.2%)

 

Source: Multiple Listing Service Property Information Network Inc.  

Hingham Real Estate Q1/2 2018 Summary
 
 All metrics are up from last year at this time. It is a seller's market!  

In Hingham single family home sales totaled over $125 million for the first half of 2018 versus $97 million for the same period in 2017, which is a 29% increase. During  Q1/2 2018 there were 136 homes sold versus 109 during the same period in 2017, with results up by over 24%. 
 
Of the 136 homes sold during the first half of 2018,  74% of sales had sale prices below $1 million.  That is an increase of 29% more homes from the same period last year.  The over $1 million category was 26% of sales, which had an increase of 12.9% more homes sold.  During the second half of 2018 we continue to need more Hingham homes, especially below $1 million to meet buyer demand.
 
Days to Offer has gone down this year as well.  In Q1/2 2018  it was an average of 46 Days to Offer vs.50 Days to Offer in Q1/2 2017.  That is a decrease of 8.7%.
 

Finally, Median and Average Homes Sale Prices are up slightly from a year ago.  Median sale price is up by 2.2% a year ago to $792,000 and the average sale price up by 3.7% to $926,056.   Great news for sellers!

 

A 10-Year Plus Perspective.....
 
The Q1/2 2018 median sale price is $792,000, up by over 2% from a year ago.  In  Hingham during the past 10 years the median price has ranged from $610,000 in 2009 to a high of $799,000. 
 
 .
   Source:  Multiple Listing Service Property Information Network, Inc
  
A Sampling of Hingham
January- June 2018
Address
Sale Price
Days to Offer
Price per Square Foot
317 Main Street $400,000 172 $244
249 Central Street $706,000 12 $446
130 Lincoln Street $835,000 37 $398
22 Summit Drive $897,500
5 $365
200 Central Street $925,000
31 $384
4 Berkley Circle $1,149,000
1 $402
166 North Street $1,909,800 3 $404
73 School Street $2,325,000 1 $466
11 Paige Street $2,300,000 310 $545
66 Burditt Avenue $2,293,000 141 $560
167 Otis Street $3,500,000 26 $691
 
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
 
     

2018 South Shore single family statistics  

Town

Total Sales

%chg.

from 

 2017 

Avg

Days

to

Offer

# of

Units

Sold

Median Sale Price

Cohasset

 

$52,737,800 

(55.2%)

96

53

$995,000

Duxbury

 

$81,927,909

2.6%

57

93 

$670,000

Hingham

$125,943,649

29.4%

46

136

$792,000
 

Norwell

 

$58,799,380 

(0.1%)

50

83

$633,000

Scituate

 

$96,007,750

(0.1%) 

52

139 

$590,000 

 

Hingham results are up in all categories and outperformed all other towns.  Cohasset sales are down, especially in total sales.   You may be wondering why one community would be up and another one down so significantly.  Cohasset is a small community with many high end properties and results fluctuate more significantly versus other towns.  Duxbury, Norwell and Scituate results are essentially flat vs the prior year. As always I will continue to monitor and report.  

 

Source: Multiple Listing Service Property Information Network, Inc

Beautiful South Shore Homes for Sale
    


223 North St, Hingham

$960,000
Hingham Square 
antique and barn
Sunday Open House
1-3

52 Elm St., Hingham

$999,000
Hingham Square colonial
Sunday Open House
12:30-2



 30 Canterbury St, Hingham

$1,565,000
Gracious European inspired colonial

142 South St. Hingham

$1,560,000
Hingham Square
 Italiante antique
with pool


39 Loring Dr., Norwell

$979,000
Jacobs Landing colonial with pool/spa


$519,000

So. Hingham ranch on beautiful 1 acre lot
Sunday Open House
12-2


 If you have an interest in any of these properties, more information is available by clicking on the address.  There you will find more photographs, descriptions and more details.  If you would like to schedule a private showing, please contact me!

Cheers,
Pam Bates


In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Statistics
Beautiful South Shore homes available for sale



Your real estate resource  
Pamela Bates 
Realtor- Certified Relocation Specialist, ABR, SRES,CNS,CHMS/
Notary Public 
 
Top 10 Hingham agents 2014-2017
International President's Elite 2017
(Top 2% of Coldwell Banker associates internationally)
 
  Coldwell Banker 
Residential Brokerage
 56 South Street
 Hingham, MA 02043
c: 617 240-1292

 

 My Agent Video....

My New Agent Video!

My video!  If you would like to learn more about my approach to successfully representing buyers and sellers on Boston's South Shore, click on the arrow above. 

Client Feedback

PURCHASED 
167 Otis Street, Hingham
A stunning Crow Point waterfront home
(highest priced sale during first half of 2018)
 
" Pam was wonderful to work with throughout the whole process of buying our home. She knows the market and is extremely professional. We highly recommend Pam."
-Erin and Ross Murphy
 

 Damon Farms, Hingham/Norwell
New construction townhome 
in Damon Farms
 
"Best decision we made was hiring Pam to be our agent in our search. She is extremely knowledgeable about the area and took her time showing us around. She is very thorough, detailed oriented and thinks outside the box which helped throughout the process. We never doubted she had our best interest   in mind. We would highly recommend her to anyone looking for a top agent in the area."
-Carlos and Ada Cintron

48 Fox Hill Circle, Marshfield

Classic cul-de-sac colonial

"Pam is beyond fantastic. A friend recommended Pam and we feel so lucky to have met her. We always felt like she was the smartest person in the room. She was very knowledgeable of the systems of the house, construction details, town regulations, and of course anything related to the listing. If   there was something she didn't know the answer to, she would quickly do the research and find an answer for us. She always went above and beyond for us in every way she could. She helped us work through a very difficult buy and we ended up in a home we absolutely love. We hope and plan to keep in touch with Pam if we ever need to buy/sell again!"
-Max and Casey Smith


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

Looking for Homes
house-front-sm.jpg   
We are looking for  homes  to sell!

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 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.  Let's talk~

c: 617 240-1292

Real Estate in the Media  
world's end path
 


Today's Rates

mortgage rate
Interested in finding out about mortgage rates?

 
Kevin Byrne of Blue Hills Bank can recommend a mortgage plan to fulfill your needs.
As of July 10, 2018 the following rates are available:
 
30 Yr - 4.5% + 0 pts
30 Yr FHA - 3.875% + 0 pts
30 Yr Jumbo - 4.5% + 0 pts
15 Yr Fixed - 3.875% + 0 pts
7/1 ARM  - 4.0% + 0 pts

Rates have gone up from 6 months ago! Now is the time to lock in a rate. 
Other rate and point options available.
  
 Contact Kevin for any of your mortgage questions.  
  
 Kevin can be reached via at KByrne@BlueHillsBank.com or
c:  781 718-3366  

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