Winter Greetings and Happy New Year!
2019 Recap- Overall sales in Hingham were slightly off from 2018. That is a trend we have seen throughout the Boston area as well as for real estate sales throughout the country. Hingham traditionally has seen year over year growth and outperformed other markets, but last year that was not the case. Could this mean the market is transitioning from a seller's market to a buyer's market?
Interestingly, the average sale price is slightly up and median sale price is slightly down. 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 more are favoring buyers.
What to expect in 2020 Experts forecast a stable real estate market, particularly with the upcoming election. I will continue to monitor trends and follow real estate predictions and report as appropriate
. It is
never too early to start planning for the spring market and I already have clients getting their homes prepared for an early spring launch. 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 continued to grow my business with 2019 being my best year ever with
over $20 million in local real estate sales. A huge thank you to clients, friends and family for your trusted support.
Homes on the market- I have highlighted some beautiful homes on the market in Hingham and Cohasset 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 local new construction projects featured in my newsletter. Let me know if you would like further information on them.
Listing Concierge and RealVitalize
-these are two new Coldwell Banker exclusive programs to assist sellers with preparing their homes for sale and an extensive marketing campaign while on market. There is further information below and of course I am available to provide more details.
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
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Just The Facts Please
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Year End 2019 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts,
here are the
Changes Favoring Buyers
|
1/1/2019-
12/31/2019
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1/1/2018-
12/31/2018
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% Change
|
Total Sales |
$263,270,014 |
$268,280,220 |
(1.9%) |
# of Homes Sold |
267 |
280 |
(4.9%) |
Sales to List Price Ratio
|
97%
|
97%
|
0.0%
|
Days to Offer
|
48 |
47
|
2.1%
|
Median Sale Price |
$797,000 |
$820,000 |
(2.9%) |
Changes Favoring Sellers
Average Sale Price |
$986,030 |
$958,144 |
2.9% |
Average sale Per Square Foot |
$379 |
$370 |
2.4% |
Current Inventory
|
|
1/3/2019
|
|
# SF Homes on Market |
101 |
92 |
9.4% |
Months of Inventory |
4.6 |
4.0 |
15% |
# Condos Homes on the Market
|
14
|
26
|
(30%)
|
Months of Inventory
|
1.3
|
3.8
|
(192%)
|
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Year End 2019 Summary
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Sales are slightly off from 2018
In Hingham single family home sales totaled over $263 million during 2019 versus $268 million in 2018, which is a 1.9% decrease. There were 267 homes sold during the first half of the year vs 280 last year, which is off by 4.9%.
Days to Offer has gone up this year. In 2019 it was an average of 48 Days to Offer vs. 47 Days to Offer for the same period in 2018. This is a increase of 2.1%.
There is some good news for sellers. The average homes sale price is up to $986,030. That is an increase of 2.9%. Interestingly the median sale price is $797,000 and down by 2.9%. The difference between average and median sale prices is how it is calculated. Average is influenced by extreme high or low sale prices. Median is the midpoint of home sale prices. Observations on the first vs second half of 2019- sales were off by 6.7% through June but ended up for the year just slightly off at 1.9%. That means the summer and fall were stronger markets with incrementally more sales than the first half. A commentary on the Hingham condominium market- the increase in condo sales is mostly attributable to BRIO opening in The Hingham Shipyard. A handful of 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 2019 median sale price is $797,000, off by 2.9% 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 in 2018.
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Sales
July-December 2019
Address
|
Sale Price
|
Days to Offer
|
Price per Square Foot
|
126 Cushing Street |
$511,000
|
5 |
$417 |
67 Canterbury Street
|
$629,000 |
91 |
$393
|
142 Ward Street |
$695,000
|
106 |
$236 |
39 Cushing Street |
$755,000
|
95 |
$426 |
15 Leonard Street
|
$799,000 |
6 |
$421 |
17 Maryknoll Drive
|
$1,770,000 |
69
|
$467 |
901 Main Street |
$2,329,000 |
189 |
$491 |
158 Downer Avenue |
$2,393,000 |
78 |
$687 |
19 Bel Air Road
|
$2,400,000 |
59 |
$471 |
If you would like the sale
price for a property not listed above,
Source: Multiple Listing Service Property Information Network Inc.
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South Shore Single Family Market Statistics |
2019 South
Shore
Single Family Statistics
Town |
Total Sales |
% Chg. from 2018 |
Days
to Offer |
# of Units Sold
|
Median Sale Price
|
Cohasset |
$137,174,256 |
(6.6%)
|
71 |
122 |
$942,000 |
Duxbury |
$173,042,584 |
1.7% |
48 |
198 |
$655,000 |
Hingham |
$263,270,014 |
(1.9%) |
47 |
267 |
$820
,000
|
Norwell |
$119,233,204 |
0.2% |
47 |
162 |
$649,500 |
Scituate |
$207,709,313 |
6.4% |
47 |
286 |
$615,000 |
All towns showed marked improvement on year end results vs for the first 6 months of the year. Communities with median sale prices in the $600,000- $700,000 range outperformed more expensive towns. Duxbury, Norwell and Scituate showed slight improvements in 2019 vs 2018. The higher priced communities of Cohasset and Hingham showed results that were off from the previous year. It could mean buyers on the lower end of the price range are finding these communities just too expensive for their budget.
Source: Multiple Listing Service Property Information Network, Inc
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Homes on the Market in Hingham and Cohasset as well as a Cohasset Rental
|
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 $1,289,000
4 bedroom/2 1/2 baths
New kitchen, baths
systems, exterior and more
81 Chittenden La, Cohasset
Listed for $1,399,000
Gorgeous almost new free standing condominium with stunning kitchen, bath and finishes
Listed for $7,800/month
Stunning 3 bedroom waterfront renovated home with 1 bedroom guest cottage starting 7/1/2020 for 1 year lease
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New Product: Coldwell Banker RealVitalize
|
Thinking of selling in 2020?
Coldwell Banker
has teamed up with
HomeAdvisor
to deliver an awesome new program called
RealVitalize!
It will help clients maximize their sale price by funding home updates at no additional cost which are paid for at closing. (Staging, Home Repairs etc.). Glad to provide details!
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Coldwell Banker Listing Concierge
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Coldwell Banker is pleased to introduce a revolutionary new marketing platform called
Listing Concierge
. The program is fully funded by Coldwell Banker and includes beautiful marketing brochures, direct marketing, social media inserts, print advertising in Boston Magazine or The Boston Globe as well as TV advertising on At Home in New England Sundays at 1pm!
Our goal is to sell your home for top dollar and the most favorable terms! Let me know if I can provide details~
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Boston's South Shore
Real Estate Resource
Pamela Bates
Realtor-
Certified Relocation Specialist/
Notary Public
International President's Elite
2017-2019
(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:
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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.
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SOLD
38 Whitcomb Avenue, Hingham
l
Charming 1930's colonial
"Pam is wonderful to work with and everything you would want in a realtor. Proactive, compassionate and very experienced. I have both bought and sold with Pam and she made both experiences enjoyable and successful. I can't recommend her enough. You will be in excellent hands!"
PURCHASED
6 Jerusalem Road, Cohasset
Charming in town colonial
"We met Pam when we were just beginning to look into "downsizing" from our home of almost 30 years. She was encouraging and thoughtful and made a point of showing us different options. Pam is very enthusiastic and really gets to know her clients' needs. When we finally found a place we felt was right for us, she was the best realtor ever for helping us realize the pluses and even pointed out some of the concerns about our potentially new home. Pam was always available for our questions and ready to provide names of professionals to assist us with any work that we might want accomplished before we moved. You will find Pam to be a friendly, experienced, knowledgeable and always honest realtor. We would use her again and have only positive things to say about her. You could not find a better person to work with than Pamela Bates! "
-Mike and Sheryl Anderson
There is no greater compliment than the referral from your family, friends and previous clients
Spring is just around the corner!
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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Interesting News Articles
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This photograph will give you a hint!
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Today's Rates
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Interested in finding out about mortgage rates?
Kevin Byrne
of
Rockland Trust
can recommend a mortgage plan to fulfill your needs.
As of 1/7/2019 the following rates are available:
30 Yr Fixed 3.625% + 0 pts
30 Yr FHA 3.125% + 0 pts
30 Yr Jumbo - 3.75% + 0 pts
15 Yr Fixed - 3.125% + 0 pts
7/1 ARM - 3.375% + 0 pts
Rates are down 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.
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New construction projects in Hingham and Weymouthport
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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.
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Useful Resources
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Zillow/Trulia
Thank you for designating me a
5- star agent on
and
You can read any of my 61
reviews on my Zillow profile by clicking
here
My Personal Website
Please visit my website:
Social Media
You can find me on Facebook at
Pamela Carney Bates
As well as on LinkedIn
And Twitter as well
And my newest, Instagram
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