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How Much Did Hingham, MA Median Home Prices Decline in 2016?

Feb 3, 2017 7:30:00 AM

Bucking the trend in the Greater Boston area real estate market, the median price of a single-family home in Hingham, Massachusetts declined in 2016.

Hingham, Massachusetts real estate market reportThe median home price decreased 6.8 percent in 2016 compared to 2015 and decreased 4.8 percent in December 2016 compared to December 2015, according to data collected by the Massachusetts Association of Realtors. 

The median home price in December 2016 was $747,380 compared to $785,000 in December 2015. For the entire year, the median home price was $715,000 compared to $767,000 in 2015. Homebuyers paid on average 93.5 percent of the original list price in December 2016 compared to 90.9 percent of the original list price in December 2015. During all of 2016, homebuyers paid on average 94.7 percent of the original list price compared to 94.5 percent in 2015. 

Home sales decreased by two sales to 25 houses sold in December compared to 27 sales in December 2015. The number of new single-family listings available in December declined 17.6 percent to 14 compared to 17 new listings in December 2015. The number of homes on the market declined by three to 50 compared to December 2015. Home sales increased by one for the full year to 258 houses sold. 

There were not any condominium sales in Hingham in December compared to 12 in December 2015. Throughout 2016 there were 59 sales, a 7.8 percent decrease from 64 units sold in 2015. The median condo price in 2016 was $310,000. Homebuyers paid on average 97.8 percent of the original list price in 2016 compared to 96.1 percent in 2015.

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Hingham MA


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