2022 Summer Edition Hingham Real Estate Newsletter

2022 Summer Edition

Hingham Real Estate Review

and Market Insights

Hingham Shipyard on a beautiful summer day

Q1-2 2022 was a sellers market......

Greetings!

We are half way through 2022 and I hope you were able to spend some time off with friends and family over 4th of July weekend. The first half of 2022 was certainly still a sellers market in Hingham. Home values are up by 9.7% from a year ago and now the median sale price is $1,300,000. Buyer demand and low inventory have fueled this market. However, the market has started to shift. Number of homes sold is down by 6.4% and interest rates are up considerably from 6 months ago. See Kevin Byrne's latest rates below. Rising interest rates has effected buyer's purchasing power. There are 100% more homes on the market this July vs July 2021! That is telling.

Forecasters predict a continued positive real estate market for sellers. Homes properly priced are still selling! If you live locally and are thinking about making a change, let's chat. NOW is a great time to think about selling. We need homes!

Personal Accomplishments- Thanks to your continued support, I was recently recognized as a Top Hingham Agent by Boston Magazine and a Top Massachusetts agent by RealTrends.com!

Mortgages- I have provided the latest on mortgage rates from Kevin Byrne, now with Movement Mortgage. 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 Realty

Hingham, MA

P.S. See below for Hingham Shipyard news!

HINGHAM SHIPYARD CONCERT SERIES

The Launch at Hingham Shipyard will play host to a summer concert series again this season, including a number of local favorites.

The Shipyard is also excited to welcome its newest tenant, The Beth Kitchen & Bar, located at 18 Shipyard Drive and opening soon this summer. The Beth’s menu will feature creative-American cuisine with global influences, carefully crafted cocktails, and local beers.

CONCERT SCHEDULE

July 8th No Shoes Nation Band https://www.noshoesnationband.com/aboutus
July 15th Booty Vortex https://www.bootyvortexband.com/
July 22nd Gun Powder and Lead https://www.facebook.com/GunpowderAndLeadBand/
July 29th Studio Two http://www.studiotwotributeband.com/
Aug 5th Richie Rich and The 24karat funk band http://24kfunkproductions.com/
Aug 12th The Love Dogs https://thelovedogs.com/
Aug. 19th Living on a Bad Name https://www.livingonabadname.com/
Aug 26th Draw The Line https://www.drawtheline.net/

Bands will play at the amphitheater located behind 18 Shipyard Drive each Friday at 7pm. A variety of genres are represented, aiming to please a wide audience of visitors, neighbors and shoppers.

Boston's South Shore Real Estate Resource

Pamela Bates

Realtor

Relocation Specialist

Notary Public

Coldwell Banker President's Elite

Top 3% of Coldwell Banker associates internationally

2017-2021

Boston Magazine

Top Hingham Agent

2020-2021

RealTrends.com

Top Massachusetts Agent

2020-2021

Thank you for your continuous support!

My Agent Video

If you would like to learn more about my approach to representing successfully buyers and sellers on Boston's South Shore, click on the arrow above.

Looking for Homes to Sell!

A great time to sell!

Home values are still historically high and inventory is low.

I would be pleased to meet with you, listen to your objectives and design a personalized plan to successfully sell your home in 2022! Now is the time to plan. Let's chat soon~

Market News

Q1-2 2022 Hingham Single Family Statistics

Most statistics favor sellers other than number of homes sold, which was down by 6.4%. Total sales were $174 million, up by 4.2% from a year ago. Growth was fueled by home sale prices. Median Sale Price was $1,300,000 up by 9.7% and Average Sale Price was $1,396,017 up by 10.8%. Days on market was just 13 days, which is a 61% reduction. That is crazy! The Sale Price per Square Foot is also up by 6.2% to $488 per square foot.

Current inventory is 43 homes, up by 100% from a year ago. That is a sign the market is changing.

Source for all data: Multiple Listing Service Property Information Network, Inc

Hingham Median Sale Price

Hingham's median sale price for Q1-2 2022 is $1,300,000. That is up by 9.7 % from the previous year.

Q1-2 2022 South Shore Single Family Market Statistics

Results are all over the board. Cohasset metrics are down significantly. Typically Cohasset's sale price is much higher than other town's. However, for the first half of this year Hingham's sale price is getting close to Cohasset's! Norwell and Scituate metrics are up significantly.

Client Feedback

PURCHASED & SOLD:

223 North Street,

Hingham

"We used Pam Bates to both purchase and sell a historic home in HIngham. Through the lengthy process of renovation, Pam stood by us and gave us the benefit of her extensive knowledge, helping us to find the best solutions to the innumerable "this old house" problems that came up - far above just being a listing service. I would recommend Pam for any real estate transaction you're contemplating. Five stars from start to finish."

-Carol Handelman and Marian Bressel

PURCHASED:

802 Jerusalem Road, Cohasset

"We are first time homeowners and met Pam through Zillow. She took us to our first open house and right away we knew that she would be the one to help guide us through the process of finding our first home. She was extremely knowledgeable about the market in the area and gave us excellent advice about location, timing, and guided us into the most perfect home we could ever want. This process could have been overwhelming, but Pam was always there for us to answer our (many) questions, to share her wealth of information and contacts, and to help us every step of the way. We honestly feel like we won the Real Estate Agent lottery - she's not just an agent to us, she's a neighbor and a friend! We cannot recommend her enough, and know that if we ever need her again, she's there."

-Quinn Etchie and Carter Noon