Buying a Home in Hingham, MA
Hingham, MA, located in South Shore, MA, is renowned for its coastal charm, historic character, and proximity to Boston. The town consistently ranks as one of the top South Shore destinations for homebuyers seeking a blend of suburban living with access to excellent schools, scenic views, and vibrant community life.
Market Overview: Rising Demand and Limited Supply
Like much of South Shore, MA, Hingham has experienced an increase in demand for residential properties, particularly since the pandemic buyers to sought out more space and outdoor amenities. The below home market snapshot indicates that Hingham real estate remains competitive.
Key Statistics in the Current Market:
- Average List Price: The average list price for a single family home this time last year was $1,635,853 versus the current average list price of $1,864,150. This price increase reflects an upward trend in the Hingham, MA real estate market.
- Days on Market: Homes in Hingham typically sell within 30-45 days, indicating a fast-moving market where buyers must act quickly.
- Inventory: There is an increase in the number of listings compared to this time last year. In the 3rd quarter of 2023 there were 232 homes listed versus 307 homes listed in the 3rd quarter of 2024.
What’s Driving the Market in Hingham?
Several factors contribute to the market dynamics in Hingham:
- Strong Buyer Demand: Hingham continues to attract buyers from both the Boston metro area and beyond. The town’s scenic harbor, excellent school system, and small-town charm make it a highly desirable place to live.
- Proximity to Boston: With its easy access to Boston via the commuter rail and ferry service, Hingham appeals to professionals seeking a convenient commute while enjoying suburban life.
- Low Inventory: The lack of new construction and the limited number of homes for sale keep supply low, intensifying competition among buyers.
- Interest Rates: High interest rates have impacted the market overall. But, given the affluent nature of many Hingham buyers, demand has remained strong despite higher mortgage costs.
Hingham’s current real estate market remains competitive, driven by strong demand, lower inventory, and the town’s enduring appeal. Whether you are buying or selling, working with a local real estate professional is vital. You will be informed of any changes and receive on-going updates for the Hingham real estate market. Are you looking for in-depth information on the local market? Reach out to an agent at Michelle Larnard Real Estate.
