Darleen Lannon Real Estate proudly presents the 2024 Hingham Annual Real Estate Report, showcasing a record-breaking year of sales in Hingham and the South Shore luxury real estate market. As the #1 Real Estate Agent in Hingham for the past 3 years for most homes sold (per mls) and the 2024 #1 Realtor in the South Shore for most homes sold ( per mls) Darleen's expertise and strategic marketing have consistently delivered unparalleled results for her clients. I hope you enjoy reading about all the key market stats and trends that are shaping the Hingham Real Estate Marketplace.
ANNUAL REPORT 2024 HINGHAM REAL ESTATE COMPREHENSIVE INSIGHTS AND TRENDS
www.DarleenLannonRealEstate.com Darleen@DarleenLannonRealEstate.com 617-899-4508
A Comprehensive Market Overview As the #1 Listing Agent in Hingham for three consecutive years for total homes sold per MLS and the #1 Agent for total homes sold on the South Shore in 2024 per MLS, I am proud to present the 2024 Hingham Real Estate Annual Report. This comprehensive analysis highlights key market data and critical insights that have shaped our local real estate market.
2024 Hingham Market Highlights
Median Sales Price: $1,320,000 Median Price per Square Foot: $515 Total Homes Sold: 221 Median Days to Offer: 14 days
Your Trusted Partner in Real Estate My proven approach ensures your property is more than just listed - it’s expertly marketed to maximize its potential. As Hingham's leading listing agent, I leverage the unparalleled resources and reputation of William Raveis to provide exceptional exposure for your property. This strategic advantage ensures access to a broad, highly qualified audience, a critical edge in today’s competitive market. My unwavering focus to detail, deep market expertise, and clear communication coupled with my pre market concierge, staging of your home, media package, and marketing plan, ensures your property is positioned and promoted for outstanding results.
Cheers,
EXPERT INSIGHTS ON THE 2025 MARKET
As we move into 2025, the Hingham real estate market is set to experience ongoing changes driven by shifting interest rates, limited inventory, and evolving buyer trends. To stay ahead, we rely on insights from industry experts at Keeping Current Matters, who draw data from trusted sources like the National Association of Realtors, Fannie Mae, and Freddie Mac. These insights offer a valuable perspective on the key factors expected to shape Hingham’s housing market in the coming year.
WHERE ARE THE RATES GOING NEXT? “Are we going to go back to 4%? Per my forecast, ...it’s more likely that we’ll go back to 6%. That will be the new normal, bouncing around 5.5%-6.5%.” -Lawrence Yun| Chief Economist
WILL MORE HOMES SELL IN 2025 ”The worst is coming to an end...I think there’s going to be a roughly 10% boost of existing-home sales in 2025 and 2026.” -Lawrence Yun| Chief Economist
“Prices will rise at a pace similar to that of the second half of 2024 because we don’t expect there to be enough new inventory to meet demand.” WHAT IS HAPPENING WITH HOME PRICES
-Redfin
THE HINGHAM MARKET AS OF 3/14/25
✅ MID-RANGE HOMEOWNERS ($1M–$1.5M) HAVE MORE SELLING OPPORTUNITIES, AS INVENTORY IN THIS RANGE HAS INCREASED. ✅ BUYERS LOOKING UNDER $1M WILL FACE LIMITED INVENTORY, MAKING THIS A COMPETITIVE SEGMENT. ✅ HOMES PRICED AROUND $2M SEEM TO BE IN HIGH DEMAND, WHICH COULD MAKE THIS A SWEET SPOT FOR SELLERS.
$1.27M MEDIAN SALE $ $1.057M IN 2024 THE MEDIAN SALE PRICE IS UP 18% REFLECTING A STRONG DEMAND AND APPRECIATION IN HOME VALUES.
27 CURRENT LISTINGS 16 IN 2024
35 HOMES SOLD YTD 26 IN 2024
69% INCREASE IN INVENTORY INDICATING MORE OPTIONS FOR BUYERS.
HIGHER SALES VOLUME – A 35% INCREASE COMPARED TO 2024.
Since the onset of COVID in 2020 home values have surged over the past 5 years in Hingham.
50.8% An increase of In Hingham, MA
This growth in property values has significantly increased homeowners’ net worth and equity. Limited inventory, strong schools, and a thriving local economy continue to drive demand. As we head into 2025, Hingham remains a prime market for real estate investment, offering opportunities for both buyers and sellers to leverage these trends.
This surge is likely to continue due to the resilient market present throughout the past eight years. This is seen with Hingham’s increasing median sales price .
84% more than in Hingham
Over the past eight years the median sales price has increased
The rise in median sales price has triggered the median price per square foot to increase substantially since 2020.
Over the past five years the median price per square foot has increased
30% more than in Hingham
In 2024, the market saw a 2.5% decrease from 2023 in sales price per square footage to $515.
In 2024, more than 80% of the homes sold in Hingham were priced above $1,000,000 with 61% being priced between $1,000,000 to $2,000,000.
From 2023 to 2024, there was a 53% increase in homes priced between $1,000,000-$1,499,999.
From 2023 to 2024, there was a 33% decrease in homes priced between $500,000-$799,999.
Despite an 18% increase in home sales in Hingham in 2024 compared to 2023, inventory remains limited, driven by two key factors.
1) No Where to Go Due to low housing inventory, many homeowners are hesitant to list their homes, fearing they won't find a suitable replacement after selling. This concern is preventing many potential sellers from listing their properties
2) Golden Handcuffs Homeowners who purchased properties from 2020 to early 2022 received historically low interest rates, making it financially unattractive for them to move and and have to trade in their low-rate mortgages
The median days to offer has adjusted back to pre-pandemic levels highlighting the importance of strategic pricing and effective marketing.
2020
2021 During this time, the drastic decrease in median days indicates a highly competitive market driven by increased demand.
2022-2023 Following the surge, a moderate rise in median days to offer for these two years suggests a gradual shift toward a more balanced market.
2024 This year marked a significant shift, with homes staying on the market twice as long as they did in 2023.
Pre Covid homes were typically taking a median of 13 days to receive an offer.
The 2025 Color of the Year trends embrace quiet luxury with timeless style. On top of that, new trends like painted ceilings, statement doors, and two-tone walls are popular. Nature-inspired hues like Benjamin Moore's 'Cinnamon Slate' and Sherwin-Williams' 'Quietude' lead the way, offering rich, grounding shades perfect for refreshing your space or preparing to sell.
2025 COLORS OF THE YEAR
Benjamin Moore Cinnamon Slate 2113-40
Sherwin- Williams Quietude HGSW6212
DARLEEN’S GO TO NEUTRALS
Benjamin Moore White Dove OC17
Benjamin Moore Chantilly Lace 2121-70
Benjamin Moore Simply White OC-117
Farrow and Ball All White NO- 2005
Benjamin Moore Swiss Coffee OC45
Benjamin Moore Decorator’s White OC-149
Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12www.darleenlannonrealestate.com
Made with FlippingBook - professional solution for displaying marketing and sales documents online