 Summer!
Greetings all,
What a beautiful July 4th holiday weekend! I hope you able to spend some time with family and friends enjoying this special time of year. We are halfway through 2017 and what does that mean for the local real estate market? In general, there is continued confidence of a strong real estate market. Home values are up and moderately priced inventory is down. Great news for sellers!
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. Number of Homes Sold and Days to Offer are slightly more advantageous to buyers. Total Sales, Average and Median Sale Price and Average Sale Per Square Foot are more advantageous to sellers. I have provided an analysis to summarize what all the statistics mean for our local real estate market.
Inventory with list prices below $1 Million is down by 10% from a year ago and buyers are still shopping even though it is summer. We have a significant inventory of high end homes- $1.5 Million and up. If you are ready for an upgrade, this is a great time to consider. There will be a Fall market starting right after Labor Day with renewed interest from buyers and now is the time to get ready to list for the Fall. 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
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Just The Facts Please
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Q1/2 2017 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts,
here are the
Q1/2 2017 vs. Q1/2 2016 statistics
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1/1/2017- 6/30/2017 |
1/1/2017
6/30/2017
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% Change
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# of Homes Sold
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108
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116
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(7.4%) |
| Days to Offer |
51
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45 |
13.3% |
Changes Favoring Sellers
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1/1/2017- 6/30/2017 |
1/1/2017- 6/30/2017 |
% Change |
| Total Sales |
$96,584,254 |
$95,956,895 |
.7% |
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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 Price |
$894,299 |
$827,215 |
8.1% |
| Median Sale Price |
$775,500 |
$699,500 |
10.9% |
Average Sale Per Square Foot
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$350
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$347
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.9% |
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Current Inventory
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7/6/2016
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# Homes on the Market
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129
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121
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5.8%
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| Months of Inventory |
7.2 |
6.3 |
12.2% |
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Q1/2 2017 Summary
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Home Values are Increasing- Good news for sellers!
In Hingham single family home sales totaled just over $96.6 million for Q1/2 2017 versus $95.9 million for the same period in 2016, so statistically the results are flat. During Q1/2 2017 there were 108 homes sold versus 116 during the same period in 2016, with results down slightly by 7.4%.
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 Q1/2 2017 it was an average of 51 Days to Offer vs.45 Days to Offer in 2015. That is an increase of 13%,
Most importantly, Median and Average Homes Sale Prices are up significantly from a year ago. Median sale price is up by 10.9% a year ago to $775,500 and the average sale price up by 8.1%% to $894,299. Great news for sellers!
A 10-Year Plus Perspective.....
The Q1/2 2017 median sale price is $775,500, up by almost 11% from a year ago. In
Hingham during the past 10 years the median price has ranged from $610,000 in 2009 to its current high of $775,500.
.
Source: Multiple Listing Service Property Information Network, Inc
A Sampling of Hingham Home Sales
January - June 2017
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Address
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Sale Price
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Days To Offer
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Price per
Square Foot
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56 Ward St
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$417,000 |
6
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$250
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16 Carleton Road
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$420,000 |
37 |
$312
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15 Bayberry Road
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$625,000 |
5
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$324
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20 Water Street
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$740,000 |
19 |
$404
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73 Beal Street
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$799,000 |
6
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$360
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9 Quail Run
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$773,750 |
18
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$262
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37 Ward Street
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$849,900 |
1
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$262
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| 2 Saw Mill Pond |
$935,000 |
95
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$332
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24 Talbot Road
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$950,000 |
5
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$476
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22 Isaac Sprague
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$1,260,000 |
22 |
$396
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| 125 Leavitt Street |
$1,525,000 |
4
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$329
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| 670 Main Street |
$1,500,000 |
24 |
$344
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| 24 Water Street |
$1,550,000 |
90 |
$359
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| 33 Lincoln Street |
$1,805,000 |
8
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$388
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| 191 Downer Ave. |
$4,286,000 |
15 |
$802
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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 - June 2017
| Town |
Total Sales |
% chg. from Q1/2 2016 |
Avg Days to Offer |
# of Units Sold |
Median Sale Price |
| Cohasset |
$83,091,630 |
25.2% |
83 |
77 |
$925,000 |
| Duxbury |
$79,849,363 |
3.5% |
64 |
103 |
$686,000 |
| Hingham |
$96,584,254 |
.65% |
51 |
108 |
$775,500 |
| Norwell |
$58,760,939 |
12.8% |
61 |
75 |
$745,000 |
| Scituate |
$95,652,656 |
43.5% |
82 |
145 |
$555,000 |
All towns are seeing increases (some very significant) in total sales and improvements in other metrics such as median sale price as well. Hingham's year over year total sales are not keeping pace with other communities. Maybe the town's history of outperforming other communities is unsustainable, particularly with median and average prices now in the $775,000-$895,000 range. As I have mentioned elsewhere, I believe the lack of inventory with list prices under $1 Million has also played a role in these results. As always I will continue to monitor and report.
Source: Multiple Listing Service Property Information Network, Inc
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| Thank you, Merci, Gracias! |
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191 Downer Avenue, Hingham
A big thank you to all my clients and customers!
So far 2017 has been my best year in real estate with over $12.7 million in booked sales and another $5.0 million in pending. I was fortunate to represent the buyer for 191 Downer Avenue, Hingham which is a spectacular, "just about" new construction waterfront home pictured above. It is the highest priced single family home listed in MLS to sell in Hingham during the past 12 months! Thank you to my clients for trusting me to navigate through the complexities of purchasing a waterfront property.
In addition to this stunning home, I represented buyers and sellers so far this year in Hingham, Cohasset and Norwell. If you are interested in speaking with me about purchasing or selling real estate throughout Boston's South Shore, please contact me. I am knowledgeable about all communities from Hingham to Duxbury and at all price points.
-Pam Bates
c: 617 240-1292
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Your real estate resource
Pamela Bates
Realtor-
Certified Relocation Specialist, ABR, SRES,CNS,CHMS/
Notary Public
Top 10 Hingham agents 2014-2016
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 Newer Agent Video....
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My newer 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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SOLD
2 Saw Mill Pond, Hingham
a beautiful saltbox colonial in a
South Hingham neighborhood
AND PURCHASED
15 James Lane, Cohasset
a new construction townhome in Cohasset Village
"
After the recent sale of our home we are so pleased to have the opportunity to highly recommend Pam as an outstanding broker. She provided very personal attention such as taking great care to prepare our home for professional photographs when we listed it, and assisting with staging for the
showings. Communication was excellent and she gave us ample advance notice for showings as well as feedback afterward. Pam took the time to help us determine our future needs as well, and represented us as our agent with the purchase of our new home. Our experience could not have been better"
-John and Lisa Fiascone
There is no greater compliment than the referral from your family, friends and previous clients
.
Looking for Homes!
We have
very little inventory
(especially below $1 Million) 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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Real Estate in the Media
Click on the link below to read or view an article about:
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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
July 7, 2017 the following rates are available:
30 Yr - 4% + 0 pts
30 Yr FHA - 3.5% + 0 pts
30 Yr Jumbo - 4.125% + 0 pts
15 Yr Fixed - 3.125% + 0 pts
7/1 ARM - 3.25% + 0 pts
Rates have gone down slightly from 6 months 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 and the first half of 2017 selling a combined sales volume of over $47 million in local real estate. I very much appreciate all your support!
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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