Indeed HOPE is a powerful word....
These are unprecedented times. We have no data on how a pandemic effects real estate values and sales. However I can report on the first 6 months of 2020. It should come as no surprise that overall sales are off from a year ago. In Hingham sales down by 22%. In reality, we lost 2 months of prime selling season from mid March to mid May. The first 3 months of the year total sales were up by 10% year over year. That is the good news! The other very good news is that the local real estate market is very active right now.
Homes are selling at all price points. It may be the result of buyers wanting to get out of cities or upgrading to bigger homes for more space. Another theory is that sellers realize there is a very active buyer pool and a great time to sell! 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, most are favoring buyers but that may change as we move through the summer.
What to expect in Q3-4 2020 -
That is the million dollar question!
If the COVID-19 cases continue to decline locally, then I think the market will continue to be very active. However we need homes to sell! With that said,
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 have once again been selected by
Boston Magazine as one of the top Hingham agents in their recent publication.
Homes on the market- I have highlighted beautiful homes coming soon or on the market in Hingham! Let me know if you would like further information. I also have other listings coming on in July. Reach out if you want further information.
Mortgages-
I have provided the latest on mortgage rates from
Kevin Byrne,
who with
Bridgewater Savings.
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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Q1-2 2020 Hingham Single Family
Real Estate Fast Facts
If you are just looking for the facts,
here are the
Changes Favoring Buyers
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1/1/2020-6/30/2020
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1/1/2019-
6/30/2019
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% Change
|
Total Sales |
$98,577,650 |
$120,256,1000 |
(22.0%) |
# of Homes Sold |
98 |
122 |
(24.4%) |
Sales to List Price Ratio
|
98%
|
98%
|
0.0%
|
Days to Offer
|
53 |
47
|
12.8%
|
Median Sale Price |
$767,000 |
$820,000 |
(6.9%) |
Changes Favoring Sellers
Average Sale Price |
$1,005,894 |
$985,706 |
2.0% |
Average sale Per Square Foot |
$382 |
$360 |
6.1% |
Current Inventory
|
|
1/3/2019
|
|
# SF Homes on Market |
51 |
120 |
(135%) |
Months of Inventory |
3.1 |
5.9 |
(90.3%) |
# Condos Homes on the Market
|
29
|
31
|
(6.9%)
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Months of Inventory
|
8.9
|
2.1
|
323%
|
Source: Multiple Listing Service Property Information Network Inc.
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Hingham Real Estate Q1-2 2020 Summary
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Sales are off by 22% from 2019
It is no surprise that overall sales are down. Essentially the pandemic eliminated 2 solid months of peak spring selling season. In Hingham single family home sales totaled over $98 million during the first half of 2020 versus $120 million in 2019, which is a 22% decrease. There were 98 homes sold during the first half of the year vs 122 last year, which is off by 24%.
Days to Offer has gone up this year. In 2020 it was an average of 53 Days to Offer vs. 47 Days to Offer for the same period in 2019. This is an increase of 12.8%.
There is some good news for sellers. The average homes sale price is up to $1,005,894. That is an increase of 2.%. Interestingly the median sale price is $767,000, down by 6.9%. 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. In this case these were several high end sales during the first half of the year. They are listed in the "Sampling of Hingham Sales".
A commentary on the current Hingham inventory. Currently our inventory is down by 135% over last year. There are many buyers looking so it is a GREAT time to list your home!
A 10-Year Plus Perspective.....
The Q1-2 2020 median sale price is $767,000, off by 6.9% 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
January - June 2020
Address
|
Sale
Price
|
Days on
the Market
|
Price per
Square Foot
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144 Downer Ave
|
$860,000
|
0
|
$561
|
27R Pioneer Rd
|
$967,000
|
4
|
$381
|
14 Crooked Meadow Lane
|
$1,061,000
|
3
|
$383
|
65 Fort Hill St
|
$1,250,000
|
33
|
$344
|
383 Main St
|
$2,100,000
|
349
|
$326
|
15 Seal Cove Rd.
|
$3,300,000
|
4
|
$849
|
30 Cushing Ave
|
$3,
995,000
|
26
|
$1,146
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199 Downer Ave
|
$4,040,000
|
3
|
$867
|
34 Martins
Lane
|
$4,995,000
|
5
|
$795
|
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 |
Q1-2 2020
South
Shore
Single Family Statistics
Town |
Total Sales |
% Chg. from 2019 |
Days
to Offer |
# of Units Sold
|
Median Sale Price
|
Cohasset |
$57,140,200 |
(3.9%)
|
66 |
52 |
$832,500 |
Duxbury |
$68,104,275 |
(3.6%) |
58 |
79 |
$726,000 |
Hingham |
$98,577,650 |
(22%) |
47 |
122 |
$767
,000
|
Norwell |
$48,868,100 |
(32.2%) |
54 |
58 |
$692,500 |
Scituate |
$86,791,754 |
2.0% |
47 |
286 |
$615,000 |
All towns were off from last year other than Scituate, which was slightly up. Hingham and Norwell saw the greatest declines. Communities with median sale prices in the $600,000- $700,000 range outperformed more expensive towns. The higher priced communities of Cohasset and Hingham had declines in both total sales and median average sale price. 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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Coming Soon and Homes on the Market in Hingham
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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 $1,229,000
3 bedroom/3.5 baths
New kitchen, updated baths. Shows beautifully.
COMING SOON
223 North St
Will be listed in the lower $2.0M range.
Completely renovated antique colonial in Hingham Square. 6 bedrooms, 5 full baths.
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New Product: Coldwell Banker RealVitalize
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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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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
27R Pioneer Rd, Hingham
Retreat lot in desirable Liberty Pole
"Having sold our previous homes ourselves for asking price, we were skeptical about hiring a broker. But with today's buyers' expectations shaped by HGTV and social media, we decided we needed an expert. Pam Bates impressed us from the first phone call. She is incredibly responsive and made us
feel like we were her only client. She consistently provided wise counsel and straightforward advice. She guided us through getting our house ready to sell, pricing and timing it right, and negotiating the purchase of a new home. Ultimately, our house sold the first weekend, with multiple offers WELL ABOVE asking. And she did all this through the pandemic! Pam FAR exceeded our expectations. She is the best of the best, and we will recommend her to everyone we know."
PURCHASED
25 Bayberry Road, Scituate
Newer construction waterfront
stunner in Minot
"
Pam showed us a number of homes and was always incredibly prepared before the viewing. In some cases she knew more about the home than the listing agent! She was great at negotiating the purchase of the house and was on top of all aspects of the closing. In addition she recommended very skilled
inspectors, attorneys, and even painters. Would highly recommend working with Pam."
-Bob and Christine Allen
There is no greater compliment than the referral from your family, friends and previous clients
A great time to sell!
Our inventory for single family homes is down by 135% from a year ago!
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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Today's Rates
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Interested in finding out about mortgage rates?
Kevin Byrne
of
Bridgewater Savings
can recommend a mortgage plan to fulfill your needs.
As of 7/3/2020 the following rates are available:
30 Yr Fixed - 2.75% + 0 pts
30 Yr FHA - 2.375% + 0 pts
30 Yr Jumbo - 3.25% + 0 pts
15 Yr Fixed -2.5% + 0 pts
7/1 ARM - 2.625% + 0 pts
WOW- these are crazy low rates!
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 66
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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