Mansfield Sees Decrease of Home Sales in August

By Les Masterson

Mirroring a similar trend seen across Massachusetts, Mansfield experienced a drop in home sales in August compared to a year ago.

Mansfield had 13 single-family home sales in August this year compared to 19 last year. For the year, Mansfield has had 108 home sales compared to 127 last year, according to The Warren Group, publisher of Banker & Tradesman, which released the sales figures on Tuesday.

Like sales, house prices are down for August. The median sale price for a single-family home in Mansfield in August was $365,000, which was down from $430,000 from a year ago. For the year, the median sale price has been $386,000, an increase over $359,900 after the first eight months of 2013.

Nearby Easton also saw huge drops in home sales in August compared to a year ago, while Foxborough experienced an increase compared to August 2013.

Bristol County

Bristol County also saw a decrease in home sales in August -- 344 this year compared to 381 last year. For the year, Bristol County has had 2,263 sales compared to 2,256 last year.

The median sales price was down slightly in August compared to a year ago ($254,500 compared to $254,900). The median sales price is also up for the year in Bristol County ($252,900 compared to $245,000 a year ago).

Massachusetts

Statewide, Massachusetts had its sixth month in which sales decreased year-over-year in 2014.

A total of 5,417 single-family homes were sold in August compared to 5,797 last year. For the year, sales are down from 33,399 in 2013 to 32,382 this year.

The median price for the month was up slightly from a year ago. A similar increase has been seen throughout the first eight months of the year compared to 2013.

Realtors have been concerned about the lack of housing inventory this year and The Warren Group CEO Timothy M. Warren said there could be an another issue influencing the disappointing August numbers.

“Home sales volume has been a bit disappointing all summer,” said The Warren Group CEO Timothy M. Warren Jr. “As reported in this week’s Banker & Tradesman, there is a discrepancy between the increase in pending sales and the number of closed sales transactions. It could be due to tough mortgage underwriting standards or cold feet after a rushed offer.”

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