Hingham, MA Home Prices Increase 2.1% in 2014

The median price of a single-family home in Hingham, Massachusetts increased to $663,750 in 2014, a 2.1 percent increase from the $650,000 median price in 2013, according to data compiled by the Massachusetts Association of Realtors. 

The number of Hingham, MA single-family houses sold in 2014 increased 11.5 percent to 292 sales compared to 262 houses sold in 2013. Pending home sales – houses under agreement that haven't closed yet – increased 8.1 percent in 2014. New single-family home listings decreased 4.6 percent. 

Home buyers on average paid 93.4 percent of the original list price, a percentage that is quite a bit less than in other cities and towns in the Greater Boston Area. The lower sale price to original list price ratio likely is a result of homes that were listed for sale at prices that were too high.  

Hingham condominium sales increased 4.6 percent to 91 units sold. There were 87 condos sold in 2013. Pending condo sales declined 8.7 percent in 2014, and new condominium listings decreased 35.4 percent. 

Condo buyers paid on average 97.3 percent of the original price. 

In December 2014 the inventory of single-family homes for sale declined 33.3 percent in Hingham, and condominium inventory plunged 72.2 percent.