Hingham Market Update: May 2024

🔔 *Hingham Market Update: May 2024*

🌟 As we step into May, the Hingham real estate landscape shows dynamic shifts compared to last year! Here's what's happening in the local Hingham market:

📈 *Inventory Surge*: We’ve seen a remarkable 117% increase in inventory, with 50 homes currently on the market, compared to just 23 last year. This growth presents a fantastic opportunity for buyers searching for options and flexibility in their home-buying journey.

*Faster Sales*: Homes are moving quickly! The median days to offer has decreased by 26.3%, down to just 14 days from 19 days last year. This speed indicates a strong demand and a market that’s heating up as we head into the summer.

💲 *Pricing Insights*: There's been a 9% decrease in median sales price per square foot, now at $487 compared to $537 in 2023. While this suggests a slight softening in prices, it's an excellent chance for buyers to get more value for their money.

🏡 *Increased Transactions*: Sales are booming with a 27.6% increase in homes sold — 60 so far this year versus 47 by the same time last year. More transactions mean a healthier market, offering both buyers and sellers more opportunities to succeed.

Whether you’re looking to buy or sell, these trends signify key opportunities in the Hingham market. Understanding these shifts can help you make informed decisions and strategize effectively.

Need insights or thinking about making a move in real estate? Let’s connect!

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