In Hingham, the real estate market remains quite warm, with statistics returning to their trend levels after unusual conditions last month. Prices, both sales prices and prices paid per square foot, are up about 10% since last year at this time. Sales are steady. No home that sold was on the market for seven months, and most sold in less than five months.
Sellers took significant price concessions from their original prices to make the transactions happen, but they did happen. This is just a generalization and a guess, but it seems as though some sellers are motivated to sell now, in the winter months, and quickly and astutely realized that their "late-summer pricing" wasn't generating buyer interest.
Buyers are starting to pay more to buy in Hingham than they have been in the recent past. Last month, it seemed that buyers weren't willing to pay up, but this month's sales show that perhaps they are perceiving new value in the available homes. With many homes under agreement, sales activity has been high, and the supply of homes is tightening somewhat.
16 single-family homes sold in November
- down from 17 last month and 20 last November
- a list with details about each sale appears below
There are many lovely homes available in Hingham right now
- The listings can be found at Hingham homes for sale
The AVERAGE
-
SALES price was $881,000
- up from $673,000 last month and $811,000 last November
-
LISTING price was $956,000
- up from $705,000 last month and $850,000 last November
-
ORIGINAL price was $985,000
- up from $743,000 last month and $875,000 last November
- AGE is 40 years (built in 1973)
Average = total prices / number of homes
The MEDIAN
- SALES price was $775,000
- LISTING price was $729,000
- ORIGINAL price was $729,000
- ASSESSMENT was nil (new contruction)
Median = the home halfway down the list
The average
-
number of days on market was 89
- down from 176 last month and 123 last November
-
square footage was 2,516
- up from 2,133 last month, but down from 2,738 last November
-
price paid per square foot was $330
- up from $314 last month and up from $298 last November
- home sold for about 88% of its original asking price and 92% of its last listing price
99 single-family homes are on the market in Hingham today
- That's 6 months of inventory
19 new properties came on the market in November
- 44 properties are currently under agreement or contingent
Mortgage interest rates are trading around 4 1/2%
- At 4.5%, the monthly payment per $100,000 of principal loan amount is $506
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Numbers may be rounded to nearest thousand. The information contained in this report, Homes sold in Hingham - November 2013, was taken from MLS Data run on 12/04/2013 and represents all single-family home sales in Hingham from 11/01/2013 to 11/30/2013. It is deemed reliable but cannot be guaranteed. It is not our intention to solicit other real estate broker’s clients. We are happy to work with them and cooperate fully. ©2013 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Employer. Equal Housing Opportunity. Owned and operated by NRT, LLC.
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