Hingham Real Estate Review and Market Insights

Summer 2019

 


     Sunset looking toward Hingham's Crow Point- beautiful!           

  summer animation
 
Summer Greetings! 
 
For those of you who have received my newsletter for some time, you will likely notice some differences- new profile picture, new logo, new colors!  A refresher is always a good idea.  Fortunately for us, some things have not changed, like our delightful summer weather along the coast.  I hope you are able to enjoy some time relaxing this summer. 
 
Q1/2 2019 Recap- The first half results were mixed with sales volume and number of homes sold slightly off from 2018.  Could this mean the market is transitioning from a seller's market to a buyer's market? Interestingly, the average and median sale prices are up. You can read more in my analysis below. 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, some are favoring sellers and some favoring buyers. 

What to expect in 2019-  Experts are uncertain about the second half of 2019. I will continue to monitor trends and follow real estate predictions and report as appropriate  Typically summer is a slower time for new listings but we often get another flurry of homes that come on the market in September and early October.  I f you would like an opinion of value and a potential 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

Thank you!- A big thank you to my clients and customers! I was selected as a Top Producing agent by  by Boston Magazine as well as nationally by Real Trends website! I am honored to be recognized and thank you for trusting me to assist you with purchasing and selling your homes. 

Homes on the market- I have highlighted some beautiful homes on the market in Hingham and Norwell below. If you would like to schedule a showing or have any questions on them, please let me know!

Mortgages-  I have provided the latest on mortgage rates from  Kevin Byrne,  who with  Rockland Trust.   He is my 'Go To' person as he is responsive, professional, reliable and offers very competitive mortgage rate options.    

New construction -  We have some new construction projects in town featured in my newsletter. Let me know if you would like further information on them. 

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 2019 Hingham Single Family
Real Estate Fast Facts   
  If you are just looking for the facts, here are the
   Q1/2 2019 vs Q1/2 2018 statistics
   
Changes Favoring Buyers
 

1/1/2019-
6/30/2019

1/1/2018-
6/30/2018
% Change
Total Sales $120,256,100 $127,805,945 (6.3%)
# of Homes Sold 122 138 (13%)
Sales to List Price Ratio
98%
98%
0.0%
Days to Offer
47 45
4.4%

  Changes Favoring Sellers

Average Sale Price $985,706 $926,130 6.4%
Median Sale Price $820,000 $792,000 3.5%
Average sale Per Square Foot $369 $363 2.5%


Current Inventory
7/17/2019
7/17/2018
%
 Change
# SF Homes on Market 115 93 24%
Months of Inventory 5.8 4.0 45%
#  Condos Homes on the Market
26
20
30%
Months of Inventory
2.0
7.0
(250%)
 
Source: Multiple Listing Service Property Information Network Inc.  

Hingham Real Estate Q1/2 2019 Summary
 
Sales have slowed during the first half of 2019  

In Hingham single family home sales totaled over $120 million during Q1/2 2019 versus $127 million in Q1/2 2018, which is a 6.3% decrease.  There were 122 homes sold during the first half of the year vs 138 last year, which is off by 13%. 

Days to Offer has gone up this year.  In Q1/2 2019  it was an average of 47 Days to Offer vs. 45 Days to Offer for the same period in 2018.  This is a increase of 4.4%.
 

There is some good news for sellers.  Median and Average Homes Sale Prices are up from a year ago.  Median sale price is up by 3.5% a year ago to $820,000 and the average sale price up by 6.4% to $985,706.

 

Interesting to note that sales were up through May and slowed significantly in June which meant the first half results were off from 2018. Also, the price point with the greatest decline was $600,000-$900,000. The higher price ranges were less effected.  Right now we have 5,8 months of inventory on the market. Experts claim that 6 months of inventory reflects a balanced market. I will continue to monitor sales to see if this is a trend for the second half of 2019.

 

A commentary on the Hingham condominium market- the increase in condo sales is mostly attributable to BRIO opening in The Hingham Shipyard. Some units are still available.  Please contact me for details. It's a great time to make a change to maintenance-free condo living!  

 

A 10-Year Plus Perspective.....
 
The Q1/2 2019  median sale price is $820,000, up by over 3.5% 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 $820,000. 
   Source:  Multiple Listing Service Property Information Network, Inc
  
A Sampling of Hingham Sales
January - June 2019

Address
Sale Price
Days to Offer
Price per Square Foot
3 Bradley Woods Dr
$590,000
1 $421
76 Lincoln Street
$685,000
140
$359
7 Side Hill Road
$720,000
6 $316
38 Whitcomb Avenue
$747,500
4 $253
4 Mill River Lane
$820,000 141 $369
40 Fairview Street
$910,000
5
$306
14 Kress Farm Rd
$1,583,238
49 $333
386 Main Street
$2,075,000
14 $320
14 Seal Cove Road
$4,650,000
2 $1,029
 
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
 
     

Q1/2 2019 South Shore Single Family Statistics  

Town

Total Sales

% Chg.

from 

Q1/2 2018 

Days

to

Offer

# of Units Sold

Median Sale Price

 

Cohasset

 

$53,396,628

12.6%

79

57

$842,000

Duxbury

 

$70,405,585
 

(18.6%)

55

86

$657,450

Hingham

$120,256,100

(6.3%)

47

122

$820 ,000
 

 

Norwell

 

$56,688,904

(3.7%)

45

74

$673,002

Scituate

 

$85,014,350

(13.7%) 

46

120

$594.000

 

Cohasset's results are up in all categories and outperformed all other towns. The rest of the towns have total sales down from a year ago but many have average and median sale prices continuing to climb. You may be wondering why one town 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. As always I will continue to monitor and report.  

 

Source: Multiple Listing Service Property Information Network, Inc

Homes on the Market in Hingham and Norwell
I am the listing agent for the beautiful homes below. Click on the address for more information. If you have any questions or interest, please let me know!

Listed for $1,499,999
4 bedroom/4 full & 2- 1/2 baths
New kitchen & baths
Resort-like backyard
  
 
Listed for $799,000
3 bedroom/2 bath
Impeccable cape overlooking conservation land


Listed for $774,000
4 bedroom/2.5 bath contemporary overlooking conservation lan d


Listed for $659,000
3 bedroom/2 bath farmhouse with updated kitchen/baths and beautiful backyard


























In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Statistics
Homes on the market in Hingham and Norwell
 
 

Boston's South Shore 
Real Estate Resource  

Pamela Bates 
Realtor- Certified Relocation Specialist/ 
Notary Public 
           
International President's Elite 
2017 & 2018
(Top 2% of Co ldwell Banker   
associates internationally)



 


Thank you to all my customers for your continued support!  

 
  Coldwell Banker 
Residential Brokerage
 56 South Street
 Hingham, MA 02043
c: 617 240-1292

Visit my website by clicking on: 

 

 My Agent Video....

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 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

 SOLD 
40 Fairview Street, Hingham

4 bedroom farmhouse colonial 

AND PURCHASED
214 Atlantic Avenue, Apt 6, Hull
Stunning 3 bedroom condominium 

"I have just completed my 3rd and 4th real estate transactions with Pam Bates. She is, by far, the best real estate agent I have ever worked with. Pam knows the market, and knows what to do to sell your home. She is professional and efficient, and quite pleasant to work with. I highly recommend Pam."
-Sue Pett

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
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Today's Rates

mortgage rate
Interested in finding out about mortgage rates?

 Kevin Byrne of  Rockland Trust can recommend a mortgage plan to fulfill your needs.
As of 7/22/2019 the following rates are available:

30 Yr Fixed - 3.75% + 0 pts
30 Yr FHA - 3.25% + 0 pts
30 Yr Jumbo - 3.875% + 0 pts
15 Yr Fixed - 3.125% + 0 pts
7/1 Jumbo ARM  - 3.5% + 0 pts
 
Rates are down significantly 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 kevin.byrne@rocklandtrust.com  or
c:  781 718-3366 
website:  www.KevinByrne.com

New construction projects in Hingham and Weymouthport
I am excited to present new construction opportunities below. Click on the blue lettering to be sent to the project website.  Please contact me if you would like further information on any of these projects or buyer representation.