Homes sold in Hingham - October 2013

In Hingham, the real estate market remains warm, with statistics that need close examination to reveal underlying conditions. There were some quick sales, but there were also four sales that took 330 days or longer. There weren't a lot of multiple-offer situations, but most sales did take place fairly close to the last offering price. There were a few less sales than average, but there are a lot of contingent and under-agreement sales now in the pipeline.

Buyers don't seem to be willing to pay more to buy in Hingham than they have been in the recent past. As more homes come on the market than are selling, buyers continue to have more options at less favorable prices, but after smoothing out the different short-term blips in the data, buyers are only paying more or less the same amount as they have for the past year. 

17 single-family homes sold in October

• down from 25 last month and 21 last October
• a list with details about each sale appears below

The AVERAGE

• SALES price was $673,000
  • down from $774,000 in September and $709,000 last October
• LISTING price was $705,000
  • up from $771,000 last month and $737,000 last October
• ORIGINAL price was $743,000
  • up from $827,000 last month and $767,000 last October
• AGE is 92 years (built in 1921)

Average = total prices / number of homes

The MEDIAN

• SALES price was $625,000
• LISTING price was $645,000
• ORIGINAL price was $690,000
• ASSESSMENT was $524,000

Median = the home halfway down the list

The average

• number of days on market was 176
  • up from 106 last month and 95 last October
• square footage was 2,133
  • down from 2,297 last month and 2,501 last October
• price paid per square foot was $314
  • down from $319 last month and up from $290 last October
• home sold for about 90% of its original asking price and 95% of its last listing price

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

• That's 8 months of inventory, and climbing

39 new properties came on the market in October

• 47 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

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Numbers may be rounded to nearest thousand. The information contained in this report, Homes sold in Hingham - October 2013, was taken from MLS Data run on 11/04/2013 and represents all single-family home sales in Hingham from 10/01/2013 to 10/31/2013. 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.