Mansfield Condos
Mansfield is a historic Massachusetts town with a population of about 23,185 people. It is a suburb of Boston, and it's situated in the southwestern part of the city. This town is also close to Providence, Rhode Island, which puts it in the unique position of having strategic access to two major cities along the Eastern seaboard. Like other towns in the Greater Boston region, this town is poised for growth as Boston's economy and population continue to expand. Like other towns and cities in the Boston area, home values have risen steadily over the past several years, and they are predicted to do the same in the foreseeable future. Home sale prices for single-family houses have risen by 6.8% since 2017. They are currently at $427,900 in 2018, and they are projected to increase by another 3% by 2019. The median listing price for a home in this town is $329,900, and the median listing price is $223 per square foot. This is lower than the median listing price per square foot for a home in Boston, but it is higher than the median listing price per square foot for a home in Providence, Rhode Island. The average sale price for all properties is $224,900 in 2018. Units of all sizes spend an average time of 86 days on the market. Factors like size, age, and amenities also influence how long homes stay on the market. Another aspect of home sales that affects both owners and buyers is foreclosure. In this town, foreclosure rates are 3.7 homes out 10,000 homes each year. This is lower than the foreclosure rate in Providence, RI (which is 4.2 homes out of every 10,000), but it is higher than the national average of about 1.5 homes in every 10,000 foreclosed each year. About 6% of homes in this town have negative equity, which is lower than the national average of just over 10%. Delinquent mortgage payment rates are lower here (at 1.1%) than they are nationwide, which has an average rate of 1.6% of homeowners who are behind on their scheduled mortgage payments.
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In following trends nationwide, condominium sale prices in this town hit their lowest point in recent years in 2012. Then, a place sold for an average price of $143,000. Property sale prices increased just slightly to $144,000 in 2013. Average sale prices steadily increased after 2014, and in 2018 they are the highest that they've been since the housing market slump in 2012. This is good news for both buyers and sellers, as it means that there is demand and availability. The situation varies based on individual sales, but buyers often have better luck with negotiations in favorable markets too.
The majority of units in 2018 are listed for sale at a price between $200,000 and $400,000. However, there is also a rise in the number of properties entering the market at a higher asking price of somewhere between $400,000 and $600,000. There are also some units, but fewer, available at a price of under $200,000. In the past year, places priced between $400,000 and lower have been the most common, and they tend to have the highest sales rates. The listing price for all price ranges has historically exceeded the actual sales price, but this trend is reversed in homes with listing prices of $300,000 and above. For homes in this price range, it is not uncommon to find a sale price that is around $20,000 more than the listing price. Sales are generally highest in the summer months, which is not uncommon for this part of the country. Traditionally, median and average listing prices have mirrored each other and only had slight deviations.
If you are looking to buy a place in this town, there are many opportunities to consider. Buying a home is a popular option for those who are ready to own their own place but who aren't quite ready to be a full-time homeowner. There are a number of points to keep in mind as you embark on the process of buying a home. For starters, setting a budget is critical. Doing a bit of financial planning helps you figure out how much you can comfortably spend on a home, and how much you can put down for a down payment and allocate for a monthly mortgage. This is also a good time to figure out what amenities you want nearby, such as walking trails, public transportation, or easy access to local highways. When you're ready to make a move to town, contact us for assistance, and our staff can walk you through the buying process step-by-step. With intimate knowledge of local neighborhoods and experience with home sales, we hope to make your new home purchase as smooth as possible.
Selling a home also requires planning and preparation. From listing your property in the best sources to providing tips for showing your place to prospective buyers in person, our team is also ready to facilitate a home transaction on the seller's side. Setting a reasonable closing date and asking price is our forte, and we are looking forward to making your home sale, and potentially your next move, as stress-free as it can be.
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