Hingham, Massachusetts single-family home sales declined 25 percent from 12 sales in February 2013 to nine home sales in February 2014, according to the data compiled by the Massachusetts Association of Realtors (MAR).
Single-family home sales increased 42.9 percent, from 21 sales in January and February 2013 to 30 home sales through the first two months of this year. There were 262 Hingham, MA single-family home sales in 2013 compared to 256 home sales in 2012. Pending sales – properties with signed purchase and sale agreements but that haven't closed yet – were up 50 percent in February to 21 pending sales from 14 in February 2013.
The median home price in Hingham in February was $450,000, a 13.4 percent decline from $519,500 in February 2013. Single-family home prices declined 10.2 percent during January and February of 2014. The median price of a single-family home during those two months was $534,200, down from $595,000 during the first two months of 2013. The median home price in 2013 was $650,000, a decline of 2.2 percent from $664,000 in 2012.
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There were only four condominium sales in Hingham in February, a 100 percent increase from the two condo sales in February 2013. Pending condo sales were up 60 percent. There were five pending condo sales in February 2013 and eight in February 2014. Through the first two months of the year, condominium sales were down from nine last year to eight in 2014, a 11.1 percent decline. Pending condo sales were up 100 percent from 10 to 20 through January and February.
The median price of a condominium in Hingham increased 25 percent in February to $823,338. Through the first two months of the year, condominium prices increased 71.1 percent to $812,613.
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Hingham, MA Inventory Declines
The number of single-family homes on the market in Hingham declined 31.3 percent in February. There were 155 homes for sale in February 2013 compared to 79 homes available in February 2014. The number of single-family homes on the market translates into 3.5 months of supply, down 35.1 percent from 5.4 months of supply in February 2013.
Condominium inventory declined 46.3 percent from 41 condos for sale in February 2013 to 22 condos for sale in February 2014. The months of supply went from 6.9 months in February 2013 to 3.1 months in February 2014, a 55.7 percent decline.
There were 23 new single-family home listings in February compared to 32 new listings in February 2013, a 28.1 percent decline. New condominium listings dropped 73.3 percent. There were 15 new listings in February 2013 and only four new condo listings in February 2014.
Hingham, MA Foreclosure Activity
There were not any foreclosure petitions – the first step in the Massachusetts foreclosure process – recorded in February, according to data from The Warren Group, publisher of Banker & Tradesman. There was one foreclosure petition recorded in February 2013. There were not any foreclosure deeds – the final step in the Massachusetts foreclosure process – recorded in February 2013 or February 2014. There was one auction announcement in Hingham in February.