Mason Ohio 45040 Condominium Market Report February 2013
Month 2 of 2013 is now complete! Was it Groundhog Day and a February just like so many others, or different this year? Stay tuned for the details!
If you're interested in the Mason single family home February market report update just click the link for their story.
All data is derived from the Cincinnati MLS system. If any Mason condos traded hands without a REALTOR® involved, then it won't be reflected in this report. 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 has become one of the most desired living areas in the region!
Mason offers a full range of price points, with some entry level condos below 100k and luxury/golf course community condos well into the $300k price point. So whether you want an economy condo, or the luxury version, we can help you find the right Mason condo for you if it's been built!
Oakwood Lakes, a popular Mason condo community.
In general, you can expect to pay a premium for Mason condos when compared to communities further away from Cincinnati, although there is diminished opportunity for condos as you head away from Cincinnati.
So, on to the data!
First up is the number of Mason condos sold on a month by month basis for 2010, 2011, 2012 and now 2013:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Sold: 22 (4 Bank/Government Owned, 0 Short Sale) UP 13
Average Price: $175,095 UP
Median Price: $150,000 UP
Days on Market Average: 136 UP
Condos Active 3/6/13: 63 UP 11
Condos Pending 3/6/13: 31 DOWN 10
Average Sales/List %: 96.9% UP 1.2%
Most Expensive Condo Sold: $315,000
Least Expensive Condo Sold: $61,000
So what does the data indicate about Mason condo sales?
Wow. That's our first impression. 22 sales in one month is good for ANY month, but for a February it's just phenomenal. Now almost half of those came at a net reduction in Pendings, so dropping from 41 to 31 means we don't necessarily expect the same type of volume in March. There's a fairly limited number of condos for sale. Despite selling 4 foreclosed condos under $100,000, the overall prices for average and median both jumped significantly. Again, one of the best months in recent years. The new construction sales in Beacon Hill, The Woods at Wilkens, Fox Hollow and others are pulling the price point up. The Average Sales/List % drop is also strong, indicating some negotiation, but overall the sellers aren't having to move too far off their asking price.
With only 63 condos on the market, it doesn't take long to determine if there's a fit for a buyer. Add requirements like a two car garage of finished lower level and the slice of condos available drops rapidly. Mason condos continue to be very appealing because their entry level price point to Mason is generally significantly less than that for a Mason single family home.
So what does this mean to you as a Mason condo owner? The stats are in your favor in MOST cases. There are still some pockets where foreclosures have hit HARD, and selling for a full equity price is a challenge. But for most Mason condo owners, you're coming into prime selling season. The snowbirds will be returning soon and looking for the next place to call home. If you're in one of the developments with new construction, you're going to have an uphill battle selling against the brand new condos being built. Whether now is a good time to enter the market is still a case by case decision that we can help you make.
For an evaluation of your home's marketability, please contact us.
So what does this mean to you as a potential Mason home buyer?
It's still a good time to buy a Mason condo. Realistically, depending on your specific needs, it's not going to take long to determine if there is a match for you available. The Mason condo price range allows for entry level and luxury level condos, with older condos available on the lower end of the price point, or upscale new construction available in the mid to high $200s and into the $300s. It may only take one or two trips out to see all the condos that might fit your needs.
And don't assume you get a price break by going directly to the builder without an agent. Your reputable builders have the cost of our services built into their price and they don't give you a discount for going unrepresented.
If you're interested in buying a Mason condo, please contact us with your needs and we'll help you find the right Mason community for you!
Serving Mason's condo buyers and sellers,
Liz and Bill aka BLiz
January 2013 Mason Condo Market Report
December 2012 Mason Condo Market Report
November 2012 Mason Condo Market Report
October 2012 Mason Condo Market Report
September 2012 Mason Condo Market Report
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