The Mansfield, Massachusetts real estate market had a breakout year in 2016, with both the number of single-family home sales and the median home price increasing double digits.
The median price of a single-family home in Mansfield, Massachusetts increased 12.3 percent in December 2016 compared to December 2015 and surged 20.6 percent in 2016 compared to 2015, according to data collected by the Massachusetts Association of Realtors.
The median home price in December 2016 was $385,000 compared to $342,750 in December 2015. For the entire year, the median home price was $444,900 compared to $369,000 in 2015. In December 2016 homebuyers paid on average 97.8 percent of the original list price compared to 100.2 percent of the original list price in December 2015. During all of 2016, homebuyers paid on average 98.4 percent of the original list price compared to 97.8 percent in 2015.
Home sales increased 150 percent to 15 houses sold in December compared to six sales in December 2015. The number of new single-family listings available in December increased 60 percent to eight compared to five available listings in December 2015; however, single-family inventory declined 38.1 percent. Home sales increased 13.2 percent for the full year to 189 compared to 167 houses sold in 2015.
Mansfield condominium sales were exactly the same in December and December 2015, with a total of four units sold. Condominium inventory declined 63.6 percent to four units from 11 units available in December 2015, and the months supply of inventory dipped below one month. About six months of inventory is considered a balanced market between homebuyers and home sellers. New condo listings increased from zero to one in December compared to the previous December.
The median condo price in Mansfield increased 32.5 percent in 2016 to $223,500 from $168,700 during the same twelve-month period in 2015. In December, the median condo price increased 24.4 percent to $190,000. On average homebuyers paid 93 percent of the original list price in December. Homebuyers paid 96.2 percent of the original list price in December 2015. Homebuyers paid on average 96.6 percent of the original list price in 2016 compared to 94.6 percent in 2015.