Mason Ohio 45040 Single Family Home Residential Market Report June 2012
THE MASON MARKET IS HOT! Mason continues to be the most in demand living in Warren County. There's a cachet with saying you live in Mason that isn't present elsewhere in the county. It's where many professionals and upper management call home. Stay with us for the full details. We've covered Mason condos in our Mason Ohio 45040 Condo Market Report June 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: 83 (5 Bank/Government Owned, 1 Short Sale) UP 21
Average Price: $311,201 UP
Median Price: $295,000 UP
Days on Market Average: 67 UP 1
Homes Active 7/4/12: 235 UP 4
Homes Pending 7/4/12: 92 DOWN 21
Average Sales/List %: 95.5% STEADY
Most Expensive Home Sold: $995,000
Least Expensive Home Sold: $50,000
So what is the data telling us? Overall, Mason single family home sales had NOTHING we would consider a truly negative indicator. The volume of sales is the highest in three years, and you can see the significant drop in Pendings means the homes are making it to the closing table. Median price could be a bit better, but it's still very strong. Additionally, the steady result 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. Further, there's more sales than indicated here as new construction is on the upswing also, and not all new construction is reported via MLS.
The proportion of distressed properties (bank/government owned and short sales) is neglibible, although there are currently 7 short sales Pending. 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? The same as last month. 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 months: STOP WAITING! There's inventory and new construction to be built, but it's a competitive market. GET AFTER IT IF YOU WANT TO BE A MASON HOME OWNER! 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
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