December 2019 Real Estate Market Update - Cohasset / Hingham / Hull / Scituate
Will the real estate market gains hold out as we go into the last month of 2019?
Hi, I am Jeff Chubb and I wanted to share with you the market stats for the first 11 months of 2019 for Cohasset, Hingham, Hull and Scituate.
Cohasset Real Estate
Inventory continued to increase year over year with there now being 22.92% more inventory at the end of November this year then compared to the same time last year.
Sales are down slightly at 2.56%, but this only represents a 3 unit difference with 114 sales in the first 11 months of 2019 vs. the first 11 months of 2018.
The average sales price in Cohasset did take a little bit of a nose dive in November. For the first 10 months of 2019 we had seen point 2 percent decrease in the average sales price. With November in the books, Cohasset is currently seeing a -5.46% decrease year over year. The median home price looks even worse as it is down 7.93% year over year.
Hingham Real Estate
Inventory in Hingham is now down 1.32%, but this only represents a one unit difference with 75 homes on the market at the end of November in 2019 vs. 76 in 2018.
Sales in November were stronger then compared to the same period last year. In the month of November we saw 29 homes close in Hingham which is compared to last November where we saw only 18 units close. With 250 closed homes in 2019, currently sales in Hingham is 5.30% behind where they were at the end of November in 2018.
Home prices for the first 11 months in Hingham are up 2.18% to $985,242.
Hull Real Estate
The decline in inventory for Hull stayed about constant being down 34.04% year over year with 31 single family homes currently on the market. Meanwhile sales continued to increase in November with 148 units closed for the first 11 months of 2019 which represents an 18.40% increase year over year.
Prices are now up 4.87% year over in Hull for an average sale price of $512,678.
Scituate Real Estate
Inventory in Scituate is still up for the year, however we did see a slight pullback to 10.67% with 83 single family homes currently available to buyers.
The decrease in sales for Scituate continued to widen in the month of November as with 11 months in the books we currently have 263 closed units which represents a 6.07% decrease in the amount of sales this time last year.
The great news is that the average sale price continues to be strong and actually grew in November pushing the average to $729,688 for sales up to November which represents a 7.64% increase in the average sale price.
What does December have in store for the market and how will the year end? A very large factor will be the weather. If we don’t see a lot of snow then we will most likely end the year strong.
Again, I am Jeff Chubb with the Chubb Realty Group. Our philosophy is to Make Moving Easier so should you have any questions about your home or any of the current market conditions, then please do not hesitate reaching out at 617-480-2600 or by email at [email protected] . We are here to help in anyway possible.