Hingham Real Estate Review and Market Insights

Summer 2020 


    Hingham Harbor on a gorgeous summer morning

 
 
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
 
Just The Facts Please 
numbers-toy.jpg  
 
 Q1-2 2020 Hingham Single Family
Real Estate Fast Facts   
  If you are just looking for the facts, here are the
  2020 vs 2019 statistics
   
Changes Favoring Buyers
 

1/1/2020-6/30/2020

1/1/2019-
6/30/2019
% 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
1/3/2020
1/3/2019
%
 Change
# 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%)
Months of Inventory
8.9
2.1
323%
 
Source: Multiple Listing Service Property Information Network Inc.  

Hingham Real Estate Q1-2 2020 Summary
 
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
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
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,
please contact me.

Source:  Multiple Listing Service Property Information Network Inc.  
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

Coming Soon and Homes on the Market in Hingham
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. 


New Product: Coldwell Banker RealVitalize



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!
Coldwell Banker Listing Concierge

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~


In This Issue
Just The Facts Please
Hingham Real Estate Summary
South Shore Market Statistics
Coming Soon and Homes on the market in Hingham
 
 

Boston's South Shore 
Real Estate Resource  

Pamela Bates 
Realtor- Certified Relocation Specialist/ 
Notary Public 
           
International President's Elite 
2017-2019
(Top 2% of Co ldwell Banker   
associates internationally)


 
I am pleased to have been recognized by Boston Magazine once again as a Top Producing real estate agent in Hingham! 

Thank you to all my customers for your continued support!  

 
  Coldwell Banker 
Residential Brokerage
 56 South Street
 Hingham, MA 02043
c: 617 240-1292

Visit my website by clicking on: 

 

 My Agent Video....

My New Agent 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. 

Client Feedback

 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."
-Steve and Margie Myers

 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

Looking for Homes
house-front-sm.jpg   
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
Interesting News Articles 

Today's Rates

mortgage rate
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.  
  
 Kevin can be reached via at kbyrne@bridgewatersavings.com  or
c:  781 718-3366 
website:  www.KevinByrne.com

New construction projects in Hingham and Weymouthport
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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