Health & Fitness
Hingham Real Estate Review and Market Insights Second Quarter 2012
The Hingham real estate market is rebounding with much improved results over a year ago! Sales volume, transactions and most importantly, median price are way up. Read on to find out more details.
Greetings To All and To Summer!
Here we are at the midpoint of 2011 and we have made it to summer. The weather has improved and the weekends have been beautiful. I hope you have been able to spend them with family and/or friends doing something special.
I am proud to report that the positive early spring trends have continued throughout the first half of 2012. Sales results are up significantly from a year ago and almost all categories, which is very encouraging. Unemployment is down, consumer confidence is up and interest rates are still low, which is a great combination for a real estate recovery. After 5 or so years of being a "Buyers Market", it appears we are moving more toward a balanced market, where neither the buyer nor the seller are at an advantage.
Find out what's happening in Hinghamfor free with the latest updates from Patch.
In the first half of the year we have seen new listings come on the market and go under agreement almost immediately. We have even had some properties with multiple offers. Buyers-this is an important time to step into the market! We are starting to see sale prices increase locally. Now if a great time to buy. If you are a seller, NOW is the time to list your home for sale. 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 or click away.
Sincerely,
Find out what's happening in Hinghamfor free with the latest updates from Patch.
Pam Bates
Coldwell Banker Residential Brokerage
c: 617 240-1292
Hingham Real Estate Q1-Q2 2012 Summary
The Local Real Estate Market is Rebounding!....
The results for the first half of 2012 are much improved over the same time period in 2011. In Hingham single family home sales totaled over $76.2 million in January-June 2012 versus $68.3 million for the same period in 2011. This is an increase of over 11.5%. In Q1-2 2012 there were 102 homes sold versus 95 in Q1-2 2011. This is an increase of 7.4%. Most importantly, the median home price of $725,000 is up by over 13% from a year ago and the average sale per square foot of $299 is up by almost 3%!
Currently there is a 13.8-month inventory of homes available, which is the same from last year. While the sales results so far favor sellers, the current inventory levels are more buyer favored. In general, we are trending toward a more balanced market than we have seen in the past few years, favoring neither buyers nor sellers.
A 12-Year Perspective Hingham Median Sale Price
Year Median Sale Price
2000 $382,000
2001 $405,000
2002 $512,000
2003 $582,000
2004 $635,000
2005 $665,000
2006 $638,700
2007 $628,500
2008 $630,000
2009 $610,000
2010 $670,000
2011 $631,000
Q1-2 2012 $725,000!
You can view this information in a bar chart by clicking on the photo above. The median home sale price in Hingham during the past 12 years has ranged from $412,000 in 2000 to a high of $725,000 in the first half of 2012! That is an increase of over 13% from a year ago. If you would like to read my entire newsletter with even more information about the Hingham real estate market, click here .
I welcome your questions and comments!
-Pam Bates
Coldwell Banker Residential Brokerage
c: 617 240-1292
