Hingham Homes for Sale and Sold - January 2014

Hingham home sales were strong in January 2014, led by a $7.15 million sale on Bare Cove Lane. Sales are brisk, and up sharply from last year at this time. The averages and medians are holding steady or improving, to sellers' advantage, slightly.

After averaging out the monthly variations, buyers are still paying about what they have been willing to pay for a Hingham home for the past couple of years. Until more properties come on the market, though, they won't have much time to decide: sales activity has been high, and the supply of homes is tight.

20 single-family homes sold in January

• up from 19 in December and 9 last January
  • a list with details about each sale appears below

• 262 homes sold in all of 2013

The current list of homes for sale in Hingham can be found at Hingham homes for sale

The AVERAGE

• SALES price was $1,011,000
  • up from $795,000 in December and $638,000 last January
  • the average for all of 2013 was $768,000

• LISTING price was $1,087,000
  • up from $813,000 in December and $669,000 last January
  • the average for all of 2013 was $798,000

• ORIGINAL price was $1,284,000
  • up from $931,000 in December and $697,000 last January
  • the average for all of 2013 was $823,000

• AGE is 50 years (built in 1954)

Average = total prices / number of homes

The MEDIAN

• SALES price was $610,000
• LISTING price was $650,000
• ORIGINAL price was $679,000
• ASSESSMENT was $567,000

Median = the home halfway down the list

The average

• number of days on market was 133
  • up from 54 in December but down from 138 last January
  • the average for all of 2013 was 89
• square footage was 2,812
  • up from 2,627 in December and 2,352 last January
  • the average for all of 2013 was 2,437
• price paid per square foot was $304
  • down from $312 in December, but up from $276 last January
  • the average for all of 2013 was $313
• home sold for about 78% of its original asking price and 93% of its last listing price
  • the average for all of 2013 was 93% of the original price and 97% of the last price

86 single-family homes are on the market in Hingham today

• That's only 4 months of inventory

14 new properties came on the market in January

• 20 properties are currently under agreement or contingent

Mortgage interest rates are trading around 4 1/4%

• 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

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Numbers may be rounded. The information contained in this report, Hingham Homes for Sale and Sold - January 2014, was taken from MLS Data run on 2/4/2014 and represents all single-family home sales in Hingham from 1/1/2014 to 1/31/2014 or the relevant time period for the data shown. 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. ©2014 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.