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Your Town: Mid-Year Report for Mansfield Real Estate Market

Want to know how the Mansfield, Massachusetts real estate market is doing? In this Your Town report we’re looking at home sales in Mansfield for the first half of 2015 versus the first half of 2014, how the market is currently doing and what’s to come for the rest of the year.

As of June 30th a total of 68 homes sold in Mansfield at an average sale price of $322,471. (These numbers include single-family homes, condominiums, and multi-family sales). 68 sales are down from this same time period in 2014 when 99 homes were sold. There was also a decrease in the overall average sale price which was $307,716 during this time period in 2014. This decrease in home sales was largely due to the excessive snow over the winter that delayed the entire real estate market.

Breaking down the numbers:

  • Single-Family Homes: 71 single-families sold in 2014 for an average price of $384,175 compared to 45 single-family sales this year for an average price of $403,716, so we’re looking at 26 fewer sales this year, but an increase in the average sales price of almost $20,000.
  • Condominiums: 27 condos sold in 2014 for an average price of $225,509, compared to 19 condo sales this year for an average price of $195,231. There’s been a decrease in both the number of sales, as well as the average price of a condo in Mansfield. This decrease in the average price of condos is a bit surprising and likely will not continue.
  • Multi-Family Homes: Just one multi-family sold in the first half of 2014 in Mansfield for a price of $260,000. 4 have sold this year for an average price of $396,833. Not only has there been an increase in the number of sales, but there was a substantial increase in the average sales price for a multi-family in Mansfield.

Mansfield, Right Now:

As of today, there are 25 single-family homes on the market in Mansfield compared to 44 a year ago. As for condos, there are 11 units for sale compared to 10 this time last year, and 2 multi-families are currently on the market compared to 1 this time in 2014. This is a total of 38 homes on the market, compared with 53 a year ago. Less homes on the market will likely help average sales prices increase in the months to.

Rest of the year?

There were 147 pending sales this year compared with 139 during the same time frame in 2014. In June, however, pending home sales were down slightly at 34 compared to 37 pending sales during the same time period last year. In most cities and towns pending sales were up in June so this was a bit of an unusual finding. Based on June being a slower month for pending sales we cannot say for sure if overall sales will catch up to 2014 by years end.

Town Profile

Mansfield is a town in Bristol County, Massachusetts. At the time of the 2010 census the population was 23,184. Mansfield is located one hour from Boston in the south-southwest suburbs, and 25 minutes from Providence, RI. Mansfield is bordered by Foxborough and Sharon to the north, Easton to the east, Norton to the south, and Plainville to the west. The town is well known for being home to an incredible outdoor amphitheater and one of the most popular concert venues in all of New England, the Xfinity Center. In addition to music and entertainment, there are many opportunities to enjoy walking and biking in the beautiful outdoors. There are five conservation areas in town including the Great Woods Conservation Area, Maple Park, York, Marie Strese, and Sweet Pond Conservation Area. Mansfield also has an outstanding school system and is known for both academic and athletic excellence. Many of the Mansfield teams have won multiple league, division, and all-state titles. The Mansfield Hornets football team also won the Division II state title in 2013.