South Shore condo sales - 2013

The number of sales of South Shore, Massachusetts, condos is up 31% year-over-year. This report covers 2013 condominium sales in the towns of Cohasset, Duxbury, Hingham, Kingston, Marshfield, Norwell, Pembroke, Plymouth and Scituate

The condo market is healthy and attractive to buyers. Square footage, average sales prices and price per square foot were up from 2012 to 2013. The number of days listings stay on the market before selling is down. 

Condos are selling in all price ranges, and they are selling for 96% of their original asking price, up from 94% last year. That is a signal that proper pricing is crucial to completing a sale.

You see, while 477 condos sold, 281 condos did NOT sell (the listing was withdrawn, expired or cancelled). Overpricing should be a seller's greatest concern in this market. At the same time, buyers need to be prepared to make an offer promptly when the right condo for them comes on the market.

477 condominiums sold on the South Shore in 2013

• Up from 365 in 2012
• the average number of condo sales on the South Shore is 40 a month
• The most expensive are in Hingham, the highest number of sales are in Plymouth
• if you'd like a list of all the 2013 sales, please write me here

Detailed listing information about of all condominiums available on the South Shore 
right now can be found at South Shore condos for sale

For all of 2013, the AVERAGE

• SALE price was $389,000
  • up from the 2012 average of $378,000 (+3%)
    

• LISTING price was $397,000
  • up from the 2012 average of $387,000 (+2.5%)

• ORIGINAL price was $405,000
  • up from the 2012 average of $403,000 (+0.5%)

• AGE was 26 years (built in 1987)

Average = total prices / number of homes

The MEDIAN

• SALE price was $342,000
• LISTING price was $359,000
• ORIGINAL price was $375,000
• ASSESSMENT was $328,000

Median = the home halfway down the list

The average

• number of days on market was 122
  • down from the 2012 average of 135
    
    
• square footage was 1,728
  • up from the 2012 average of 1,701
    
    
• price paid per square foot was $215
  • up from the 2012 average of $210
    
    
• condo sold for about 96% of its original asking price and 98% of its last listing price
  • up from the 2012 average of 94% of the original price and 96% of the last price
    

There are 179 condominiums on the market on the South Shore today

• That's less than 5 months of inventory, which is relatively low
  

Mortgage interest rates are trading around 4 1/2%

• At 4.5%, the monthly payment per $100,000 of principal loan amount is $506
• At 5.0%, the payment would be $536
• At 5.5%, the payment would be $568
  • If interest rates rise 1.0% this year, 30-year mortgages would cost 12% more

I love Turning Houses into Homes by helping people like you sell and buy homes on the South Shore

See all the condominiums for sale in
Duxbury, Cohasset, Hingham, Kingston, Marshfield, Norwell, Pembroke, Plymouth and Scituate

My business is built on referrals from clients and people like you. If you know of a friend, family member or colleague who is thinking of selling or buying a home, I'd love to help. Please call or write me to arrange an introduction. I will provide professional, courteous service and knowledgeable guidance.

Call or text (339) 832-8487 or write me to sell your condo, or to buy any condo for sale on the South Shore

Stay in touch at Brad MacKenzie Homes and Luxury Homes on the South Shore

Numbers may be rounded. The information contained in this report, South Shore condo sales - 2013, was taken from MLS Data run on 1/4/2014 and represents all condominium sales in the nine South Shore towns described above from 1/1/2013 to 12/31/2013 or the relevant period for the data presented. 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.