|  Wintertime
Greetings all, I hope you had the opportunity to spend time with friends and family throughout the holiday season. 2016 is history and welcome 2017! What will that mean for the local real estate market? Read below for a summary of 2016 and what experts predict for our current year. In general, there is continued confidence of a strong real estate market. However, in general Hingham's statistics for 2016 are flat or slightly off from 2015. Is this a trend and why are the results off? Interestingly, local sales for the first half of 2016 were up by almost 20% but by year end we were down by a total of 2.6%. In part, the results for the first half of the year were in comparison with the unprecedented winter of 2015 which stalled real estate sales for the first 4 months of the year. Another issue related to sales is inventory- we need houses to sell! 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, # of homes sold and average & median sale price are slightly more advantageous to buyers. Days on Market, Average Price per Square Foot and List Price/Sale Price ratio are more advantageous to sellers. I have provided an analysis to summarize what all the statistics mean for our local real estate market.
Inventory is down and buyers are still shopping despite the frigid temperatures. Fewer homes to purchase means more demand for Hingham homes! If you would like an opinion of value and a suggested home improvement list with references of reputable contractors, please let me know. It is never too early to start planning for the spring market which will be here soon. 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, 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
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Just The Facts Please
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Full Year 2016 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts,
here are the
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1/1/2016- 12/31/2016
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1/1/2015
-12/31/2015
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% Change
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Total Sales
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$214,920,794
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$220,482,189
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(2.6%)
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# of Homes Sold
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259
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257 |
0% |
| Average Sale Price |
$829,810
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$857,907
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(3.4%) |
| Median Sale Price |
$715,000 |
$767,000 |
(7.3%) |
Changes Favoring Sellers
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1/1/2016- 12/31/2016 |
1/1/2015 - 12/31/2015 |
% Change |
Days to Offer
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53
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64
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(14%)
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Sales to List Price Ratio
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97%
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97%
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0%
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Average Sale Per Square Foot
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$348
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$340
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2.3%
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Current Inventory
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1/4/2016
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# Homes on the Market
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53
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44
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20.5%
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| Months of Inventory |
2.5 |
2.1 |
0.4% |
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Full Year 2016 Summary
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Overall sales were flat for 2016 as compared to 2015.
The results for the first half of 2016 were very encouraging for sellers but sales slowed during the second half of the year. In Hingham single family home sales totaled almost $215 million for 2016 versus over just over $220 million for the same period in 2015. This is a decrease of 2.6%. The first half of 2016 sales were up by approximately 20% but by year end they were slightly off from 2015. During 2016 there were 259 homes sold versus 257 during the same period in 2015, with results flat year-over-year. The sales volume and homes sold showed significant year-over-year increases during the first half of the year, partly because there were 4 months of significant snowfall in 2015 which hampered sales. In addition, the number of homes for sale has been unusually low which slowed sales as well. On average, the number of Hingham homes for sale at any given time was 8% less in 2016 vs. 2015.
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 2016 it was an average of 53 Days to Offer vs. 64 Days to Offer in 2015. That is a reduction of 14%, which in part is a reflection of the low inventory of homes for sale as well as consistent demand for Hingham homes.
Median and Average Homes Sale Price were both slightly off from 2015. Median sale price is down by 7.3% a year ago to $715,000 and the average price is down by 3.4% to $829,810. I am not quite certain why the median and average sale prices are down but we did experience a significant increase in both metrics during 2015. The 2016 figures are up from 2014. You will see this on the graph below.
A 10-Year Plus Perspective.....
The 2016 median sale price is $715,000 down from $767,000 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 $767,250 for 2015.
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Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales
July- December 2016
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Address
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Sale Price
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Days Before Offer
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Price per
Square Foot
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30 Ward Street
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$505,000
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139
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$328
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978 Main Street
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$535,000
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26
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$301
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9 Juniper Road
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$595,000
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16
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$374
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23 Beach Road
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$625,000
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97
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$738
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10 Burr Road
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$753,000
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2
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$483
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36 High Street
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$780,000
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6
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$361
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21 Pioneer Road
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$798,000
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9
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$423
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200 Central St.
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$870,000
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4
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$361
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11 Liberty Road
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$975,000
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6
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$325
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27 Isaac Sprague
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$1,140,000
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76
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$352
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7 Howland Lane
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$1,190,000
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8
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$398
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243 Main Street
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$1,430,000
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128
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$318
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235 Main Street
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$1,800,000
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117
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$383
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205 Otis Street
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$2,800,000
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3
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$700
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155 Otis Street
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$3,000,000
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840
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$583
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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 |
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South Shore single family statistics January - December 2016
| Town |
Total Sales |
% change from 2015 |
Avg Days to Offer |
# of Units Sold |
Median Sale Price |
| Cohasset |
$142,924,762 |
26.8% |
76 |
136 |
$895,000 |
| Duxbury |
$185,969,377 |
35.0% |
63 |
233 |
$619,000 |
| Hingham |
$220,482,189 |
(2.6%) |
54 |
259 |
$715,000 |
| Norwell |
$116,251,788 |
15.9% |
67 |
165 |
$630,000 |
| Scituate |
$168,098,960 |
5.3% |
55 |
286 |
$515,000 |
All towns other than Hingham are seeing increases (some very significant) in total sales and improvements in other metrics such as medial sale price as well. Hey Hingham- what happened? Maybe the town's history of outperforming other communities is unsustainable. As I have mentioned elsewhere, I believe the lack of inventory has played a role in these results. As always I will continue to monitor and report. As we say at Hingham HS sporting events-Go Hingham Harbormen!
Source: Multiple Listing Service Property Information Network, Inc
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| 2 Saw Mill Pond Road, Hingham |
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New Year and New Price! Listed at $979,000
Tastefully updated 4 bedroom, 2 1/2 bath salt box colonial in the very desirable neighborhood of Saw Mill Pond. Light and bright updated kitchen leads to a large deck overlooking the spacious, level backyard as well as a fireplaced family room with large expansive windows. First floor also has a gracious formal dining room and separate fireplaced living room. All hardwood floors on first floor. Upstairs are 4 bedrooms including a master suite. Bathrooms are new in past 2 years. Masterbath features Carrera marble double vanity counters. A finished basement has just been done over with new carpet and paint- ready for kids or home office/gym/etc. Central Air, Newer Roof, Windows, Irrigation system. 1 year AHS home warranty included. Just move-in and enjoy! Minutes to Route 3, Derby Street Shoppes, Commuter Boat/ Rail and all Hingham has to offer.
Beautiful back yard
Updated eat-in kitchen
Light and bright fireplaced family room
Fireplaced living room
Beautiful new Carrera marble master bath
I will be hosting an open house this weekend on
Sunday, January 8 from 1-3 and hope you can join me to see this beautiful home.
If you would like to schedule a private showing, please contact me. Pamela.Bates@NEMoves.com or (617) 240-1292.
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Your real estate resource
Pamela Bates
Realtor-
Certified Relocation Specialist, ABR, SRES,CNS,CHMS/
Notary Public
International Diamond Society
2014 & 2016
International President's Circle 2015
Coldwell Banker
Residential Brokerage
56 South Street
Hingham, MA 02043
c: 617 240-1292
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| My New Agent Video....
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My new 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.
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Client Feedback
126 Mount Blue Street, Norwell
Custom new construction on a
retreat
lot in Norwell
"Pam embodies the highest standards of professionalism and expertise. I have worked with many realtors over the years as my company has transferred me multiple times. Her depth of knowledge is incredible and she is super responsive and her integrity is 2nd to none. She really does put your best interests in mind."
-Josh Novak and Corena Chase
26 Ship Street, Hingham
Co-listed 5 bedroom antique cape with waterviews in Derby Academy area
"Pam is a breath of fresh air in suburban real estate. She is a smart, hard working numbers person who understands the personal nuances of a home sale. We were very lucky to have Pam representing us on our recent transaction. She works in her client's best interests"
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Sheila and Dan MacKeigan
There is no greater compliment than the referral from your family, friends and previous clients
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Looking for Homes!
We have
very little inventory
and buyers shopping! That means it is a great time 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 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. Let's talk~
c: 617 240-1292
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Today's Rates
Interested in finding out about mortgage rates?
Kevin Byrne of
Blue Hills Bank can recommend a mortgage plan to fulfill your needs.
As of
January 5, 2017 the following rates are available:
-30 year fixed: 4.125% + 0 points
-FHA 30 year fixed: 3.75% + 0 points
-30 year Jumbo fixed: 4.0% + 0 points
-15 year fixed: 3.375% + 0 points
-7/1 ARM 3.375% + 0 points
Rates have gone up from 6 months ago but down from 2 weeks ago....
Other rate and point options available.
Contact Kevin for any of your mortgage questions.
Kevin can be reached via
email or
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Useful Resources
A Big Thank You!
Thank you for making me one of the Top Hingham Realtors in 2014, 2015 and 2016 selling a combined sales volume of $35 million in local real estate. I very much appreciate all your support!
2015 International President's Circle
2014 & 2016 International Diamond Society
Thank you for designating me a
5- star agent on
 and
My Personal Website
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
As well as on LinkedIn
And Twitter as well
Other Resources
Have you visited New England's #1 real estate website? Click below for ColdwellBankerHomes.com, the new name for NewEnglandMoves.com.
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