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Pamela Bates' Blog

By Pamela Bates | Agent in Hingham, MA

Hingham Real Estate Review and Market Insights Third Quarter 2012

Fall Foliage on Main Street Hingham, MA
Welcome to Fall! This is my favorite time of the year~ warm days and cool nights. In addition to beautiful weather, I am pleased to report this fall brings news that the local real estate market continues to show significant signs of recovery. Sales results are up significantly from a year ago in all categories which is very encouraging. After several years of being a "buyers market" we are moving more toward a balanced market where neither seller nor buyer are at an advantage.

While the spring tends to be the busiest market, fall is still an active real estate market. Buyers are still looking but our inventory levels are relatively low. If you are considering selling your home, please contact me.

As always, if you have any questions about the local real estate market or would like to discuss purchasing or selling a home, I am just a phone call or click away.

Sincerely,

Pam Bates

Coldwell Banker Residential Brokerage

Hingham, MA
Pamela.Bates@nemoves.com

c: 617 240-1292

www.PamBates.com

Hingham Real Estate Q1-3 2012 Summary....The local real estate market has rebounded!

The results for the first 9 months of 2012 are much improved over the same time period in 2011. In Hingham, single family home sales totaled over $149 million in January-September 2012 versus $120 million for the same period in 2011. This is an increase of over 24%. In Q1-3 2012 there were 197 homes sold versus 166 in Q1-3 2011. This is an increase of 18.7%.

In Q1-3 2012 the average days on the market was 126 days, 5.6% less time than last year. The sale price to listing ratio is stable at 96%. Finally, the median home price of $660,000 is up by over 3.1% and the average sale per square foot of $297 is up by almost 3%!

Currently there is a 10.3-month inventory of homes available, which is down from 14.0 months a year ago. At this point almost all the metrics favor sellers. In general we are trending toward a more balanced market than we have seen in the past few years.

A 12-year perspective on Hingham Median Sale Price

Year  Median Sale Price

2000  $382,000

2001  $405,000

2002  $512,000

2003  $582,000

2004  $635,000

2005  $665,000

2006  $638,700

2007  $628,500

2008  $630,000

2009 $610,000

2010  $670,000

2011  $631,000

Q1-3 2012 $660,000

You can view this information in a bar chart below. Q1-3 2012 median sale price was $660,000- a 3.1% increase from a year ago. The median sale price in Hingham during the past 12 years has ranged from $412,000 in 2000 to a high of $670,000 in 2010.
Hingham Median Sale Price 2000-2012

If you would like to read my entire newsletter with even more information about the Hingham real estate market, click here

I welcome your questions and comments!

-Pam Bates

Coldwell Banker Residential Brokerage

c: 617 240-1292

Pamela.Bates@nemoves.com

www.PamBates.com

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