 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
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Just The Facts Please
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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
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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%)
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Current Inventory
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7/2/2017
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|
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# Homes on the Market
|
148
|
129
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14.7%
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| Months of Inventory |
6.5 |
7.1 |
(9.2%) |
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Q1/2 2018 Summary
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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
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| 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
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| 200 Central Street |
$925,000
|
31 |
$384
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| 4 Berkley Circle |
$1,149,000
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1 |
$402
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| 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,
Source: Multiple Listing Service Property Information Network Inc.
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| South Shore Single Family Market Statistics |
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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
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| Beautiful South Shore Homes for Sale |
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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 |
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30 Canterbury St, Hingham
$1,565,000
Gracious European inspired colonial |
142 South St. Hingham
$1,560,000
Hingham Square
Italiante antique
with pool |
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39 Loring Dr., Norwell
$979,000
Jacobs Landing colonial with pool/spa
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$519,000
So. Hingham ranch on beautiful 1 acre lot
Sunday Open House
12-2
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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
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Your real estate resource
Pamela Bates
Realtor-
Certified Relocation Specialist, ABR, SRES,CNS,CHMS/
Notary Public
Top 10 Hingham agents 2014-2017
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
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| My Agent Video....
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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.
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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
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
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.
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Useful Resources
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Zillow/Trulia
Thank you for designating me a
5- star agent on
 and
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
Have you visited New England's #1 real estate website? Click below for ColdwellBankerHomes.com
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