Upcoming Real Estate Sales Look Very Good. Your Under Agreement Report.

I listed a downtown Quincy condo a week ago and sold it in just a few days. The turnout of prospective buyers was huge – over 60 groups came through during the three days I held open houses.

pending local home salesThat got me thinking about what seems to be a significant increase in home sales locally. In this post I’m going to review the towns of Braintree, Cohasset, Hanover, Hingham, Hull, Norwell, Scituate and Weymouth. Relying on MLS data for single-family and condominium homes I’ve searched for properties placed under agreement in the past 30 days. (A property is “under agreement” when the seller has accepted a buyer’s offer to purchase. Purchase and sale agreements usually follow in a few days and the actual purchase of the property can take a couple of additional weeks or or longer.)

First off let’s see how quickly homes are selling. In Braintree, Weymouth and Hanover the average days from the listing to an accepted offer are 36, 37 and 40 respectively. In Cohasset and Hingham the days on market are 72 and 89, still less than three months. In Hull, Scituate and Norwell it’s taking longer with days on market numbers of 107, 111 and 129.

How is this reflected in average list price? The least expensive towns are Weymouth, Hull and Braintree with averages ranging from Weymouth’s $286,000 to Braintree’s $344,000. Hanover and Scituate have comparable averages of $502,000 and $523,000. Norwell is at $702,000, Hingham $784,000 and Cohasset tops the list at $923,000.

How much house do you get for your money? One way to look at it is average list price per square foot. Hanover, Braintree, Hull and Weymouth were fairly close with a range from $199 a square foot in Hanover to $206 a square foot in Weymouth. Norwell and Scituate were close at $240 a square foot and $245 a square foot respectively. The leader in recently sold homes per square foot basis is Hingham at $341 a square foot – topping Cohasset’s $300 a square foot by over 10%.

In summary, if you’re a buyer shopping in Braintree, Weymouth or Hanover and you see a house you like, move quickly. If you’re looking for value on a cost per square foot basis, consider the towns of Hanover, Braintree, Hull and Weymouth. If you are selling it’s a great time to be in Norwell, Hingham and Cohasset. Either way, I suggest you consult with a¬†Realtor¬†early in the process. It’s also important to have your financing fully approved and in hand.

If you’re looking for a professional real estate agent who can produce the best still photos and videos, please consider contacting me. I’d very much like to speak with you about your interest in real estate.

Bob Mitchell

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