Home sales in Hingham are UP – way up from last year. Take a look at the first chart. In total, sales over the past 90 days of single family homes and condos are up 60% over the same period last year. Properties selling for less than $500k are up 33%. From $500k to $700k, sales have doubled and from $700k to $900k we’re up 233%! Is this a short-term phenomenon? Let’s look at homes that are under agreement - the second chart.
Properties “under agreement” have a purchase and sales contract signed and a scheduled future sale date. They are the inventory of homes pending sale. Today we have 33 homes pending sale with the largest group in the $500k - $700k range as you can see form the graph on the left. A year ago we had zero pending sales.
Properties for sale - chart three - have also shown growth particularly in the $700k - $900k group with 113% more homes for sale today than last year. The next strongest showing is in the $900k to $1.5 million range with a 59% increase year-to-year.
Find out what's happening in Hinghamfor free with the latest updates from Patch.
Conclusions? Lots of folks think this is a great time to buy and they are acting on this knowledge. The available inventory is up from last year but 33 of them are pending sale. Anecdotally we are seeing significant number of buyers at our weekend open houses.
Your feedback is most welcome!
Find out what's happening in Hinghamfor free with the latest updates from Patch.
For more information on buying and selling property in Hingham and on the South Shore please get in touch. We have offices in Cohasset at 1 South Main Street 781.383.8835 and in Hingham at 57 Water Street 781.749.8833.
Bob Mitchell
REALTOR, Marketing Director
