Sheffield, MA

The ZIP code is currently classified as Cooling, reflecting a market where significant inventory contraction and moderate price adjustments indicate shifting dynamics. While median listing prices have declined year-over-year, active listings have fallen sharply, suggesting reduced supply pressures.

The most recent data indicate a notable contraction in available supply, with active listings down -48.0% year-over-year and new listings experiencing a -50.0% decline over the same period. Median listing price has decreased -11.9% year-over-year to $700,000, despite no month-over-month change. Median days on market have extended slightly, up 6.7% year-over-year to 88 days, yet the price-reduced share stands at 0.0%. The pending ratio has risen 2.8% year-over-year to 0.31, with 4 pending listings.

With a Cooling classification, the market demonstrates a moderate pace of sales activity, characterized by a pending ratio of 0.31. The substantial year-over-year reduction in active listings (-48.0%) suggests that despite price adjustments, inventory remains constrained. This environment implies that while buyers may encounter more price discipline than in a more competitive market, the limited supply could still necessitate timely decisions on well-positioned properties. The absence of price reductions reinforces this perspective on the remaining inventory.

The average listing price of $1,055,817 significantly exceeds the median listing price of $700,000, indicating a substantial presence of higher-end properties that elevate the market average. While the median price per square foot is $288, the considerable spread between average and median listing prices suggests a segment of properties trading at a premium relative to the broader market, despite an -18.0% year-over-year decline in median price per square foot.