Mason Ohio 45040 Single Family Home Residential Market Report May 2012
Mason continues to be the most desirable living in Warren County. Buyer demand for property continues to be high. Stay with us for the full details. We've covered Mason condos in our Mason Ohio 45040 Condo Market Report May 2012.
All data is derived from the Cincinnati MLS system and involves only Mason homes sold with REALTOR® involvement and entered in MLS. All data is for the Mason School District area, so is not limited solely to Mason city limits.
With Mason being named #24 on the Money Magazine Top 100 Best Places To Live list for 2011, Mason received recognition that area residents already knew was well deserved! With top notch public schools, extensive entertainment and dining options, and a premier community center combined with superb accessibility to downtown Cincinnati.
Mason offers a full range of price points. There are a number of older developments featuring 1950s and 1960s vintage brick ranch homes to the other end of the spectrum with golf course community homes in excess of $1 million dollars! In general, you can expect to pay a premium for Mason homes when compared to communities further away from Cincinnati.
So, on to the data!
First up is the number of Mason single family homes sold on a month by month basis for 2010, 2011 and 2012:
Next is the Mason median price summary chart.
Mason Single Family Home Category Data Summary:
Homes Sold: 62 (3 Bank/Government Owned, 5 Short Sale) UP 18
Average Price: $268,792 DOWN
Median Price: $265,500 DOWN
Days on Market Average: 66 UP 6
Homes Active 6/6/12: 231 DOWN 7
Homes Pending 6/6/12: 113 DOWN 10
Sales/List %: 95.5% UP 1.4%
Most Expensive Home Sold: $730,000
Least Expensive Home Sold: $55,900
So what is the data telling us? Overall, Mason single family home sales still had a strong month despite the DOWN for several of the measurements. Price didn't hold, but that's mainly due to a real drop in the luxury home segment. Last month the top sale was over $1 million, this month just a bit over $700k. BIG difference.
But on the VERY positive side is the sheer number of homes that closed and the large number that are Pending. Additionally, the increase in sales/list % indicates homes that are selling are accurately priced.
In particular, great condition homes either side of $200k are in high demand, particularly for first time home buyers. Our experience has been homes in that niche WILL get plenty of activity.
The proportion of distressed properties (bank/government owned and short sales) is fairly steady and good to see some short sales actually complete the process. Short sales can involve a tremendous amount of waiting for the buyers.
So what does this mean to you as a Mason single family home owner? We're really not seeing a reason to wait if you're wanting to sell. The metrics are demonstrating normal variation. MASON CONTINUES TO BE A HIGH DEMAND AREA! For an evaluation of your home's marketability, please contact us.
So what does this mean to you as a potential Mason home buyer? Our advice is the same as prior: 2011 WAS THE BOTTOM FOR THE MASON SINGLE FAMILY HOME MARKET. WAITING LONGER TO MAKE A PURCHASE IS JUST COSTING YOU MORE The longer you wait to purchase a Mason home the more likely it's going to cost you extra to buy later. If you're interested in buying a Mason home, please contact us with your needs and we'll help you find the right Mason community for you! Continuing to wait may force you to either buy less home for your dollar, or adjust to another area that gives you more home for your dollar.
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz