HINGHAM MA REAL ESTATE MARKET REPORT JANUARY 2013

Hingham MA Sold Single Family Homes Report for January 2013

January Headlines

Hingham
  • Days on market is up by 66.3%.
  • Unit sales are down 25.0% to 9.
  • Months of supply in January was 5.8. This is down 20.3% from 7.2 in January of 2012.
Other Towns In Plymouth County
  • Unit sales in Duxbury are down 44.4% to 5.
  • Price per square foot in Plymouth in January was $147. This is down 18.1% from $180 in January of 2012.
  • Unit sales in Marion are down by 75.0%.

Click Here to Search for All Hingham MA Homes For Sale

Sales

Unit sales in January were 9. This is down 25.0% from 12 in January of 2012. Only 4 towns in Plymouth County performed worse. This is the lowest unit sales have been since 7 in March, 2011. Sales/list price ratio in January moved down to 95.5% from 97.1% in December.

 

Prices
Median price in January was $615,000. This is down 8.1% from $669,250 in January of 2012. This is the lowest median price has been since June, 2012. This performance was worse than all but 7 towns in Plymouth County. 3-month average median price of $665,000 in January was down marginally from $672,500 in December but up moderately from $565,000 in January of 2012.

 

Inventory
Inventory of 122 in January was up 4.3% from 117 in December but down 5.4% from 129 in January of 2012. New listings of 28 in January were up substantially from 10 in December and up a bit from 26 in January of 2012. Months of supply of 5.8 in January was up moderately from 5.5 in December but down moderately from 7.2 in January of 2012.

 

Market Time
Days on market of 168 in January was up considerably from 102 in December and way up from 101 in January of 2012. This performance was worse than all but 2 towns in Plymouth County. This is the highest days on market has been since May, 2012.

In comparing year over year longer term data for Hingham MA, there continues to be a trend towards more stability in market values and increased demand. The supply of homes on the market is decreasing as is common for this point in the market on a seasonably adjusted basis.  The average sales price for single family homes continues to show price improvement, although not in this month to month comparison.  First time home buyers and entry level buyer remain to be very active in the market finally taking advantage of some strong values that have been offered by sellers.

Hingham remains an excellent town for both 1st time home buyers as well as those wishing to move up into the mid ranges of the market.  The average sales price remains constant, and well priced homes are selling quickly as is evidenced by the high list to sales price ratio.  There remain some good buys at most price points and more so in both the waterfront homes and in some contemporary homes.

Below are market reports for other towns in the Hingham area:

Selling a home in Hull Massachusetts or other South Shore Towns is heavily dependent on pricing your home properly and picking an agent that will create an “online market presence” for your home. As a home seller, you need to be aware that the market in Hull and many other South Shore communities has changed over the last five years. We are no longer in a seller’s market. When selling a home in Hull Massachusetts, it pays to have a pro in your corner representing you.

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Thinking of selling your home or condo? I have a passion for Real Estate and would love to share my marketing expertise! I specialize in leveraging today’s technology, such as social media, to maximize your home’s exposure.  For Massachusetts and Hingham MA Homes for Sale and condos see Hingham MA Real Estate For Sale.

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About William Tierney

Bill Tierney is an internet savvy REALTOR who covers the South Shore real estate market for William Raveis Real Estate. Bill can be reached via email at William.Tierney@Raveis.com or by phone at 781-545-1533. Bill has been a licensed real estate agent Since 2004 and has extensive experience. As a Certified Distressed Property Expert (CDPE) Bill has extensive training in helping homeowners avoid foreclosure.