Mason Ohio 45040 Condominium Market Report June 2013
June is over for the Mason Condo market and we're past the 2013 halfway point! Hard to believe that many months have already passed! How is the Mason Ohio condo market? Time to sell or stand pat? Buy or wait? Stay tuned for the details of the Mason Ohio condo real estate market and easy to use Search For Mason Ohio Condos For Sale links too!
If you're interested in the Mason single family home June 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!
Harbourwatch, 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: 24 (4 Bank/Government Owned, 1 Short Sale) UP 8
Average Price: $155,904 DOWN $5.2k
Median Price: $132,570 DOWN $3.7k
Days on Market Average for SOLD: 104 UP 12
Condos Active 7/5/13: 79 DOWN 4
Condos Pending 7/5/13: 38 SAME
Average Sales/List %: 96.9% UP 2.0%
Most Expensive Condo Sold: $365,000
Least Expensive Condo Sold: $45,200
So what do the stats indicate about Mason Ohio condo sales?
It's another solid month for the Mason Ohio condo market. Now your first thought might be to point at prices down for both average and median, and that's true. And the time to sell took longer too. However, with a broad range in selling points, and even at 24 sales, a relatively small population of sales, it doesn't take a lot to shift an individual month's sales either up or down. The key fact for us this month is the 24 sales is a 50% increase from last month and tied for the 2nd best month in the 2010 to 2013 time period. And when you look at % of sales to list price, you can see that the negotiating has narrowed significantly. Properly priced Mason condos are selling and selling for very close to full price.
Mason condo inventory is fairly limited, so it doesn't take long to determine if there's a good match for Mason condo buyers. The fact that 38 are under contract is a good sign for the upcoming months too. And we're still seeing plenty of activity in the upscale Mason condo developments like Beacon Hill, The Woods on Wilkens, etc. The upscale new construction is proving popular, and since some of that new construction never makes it to MLS, the Mason condo market overall is actually better than we see from Cincinnati MLS stats alone.
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 Ohio condo owner? The stats for June were a bit mixed, but the jump in Solds points to this being a good time to sell your Mason condo as more condos are being sold or under contract. However, prices and days on market don't indicate a wild high demand market. Buyers are buying, but only if the condo and price match up well with their needs. Expect the possibility of being on the market for several months before getting an acceptable contract. 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 condo buyer?
No reason to change our past advice for potential Mason condo buyers. It continues to be a good opportunity. Prices are still reasonable, especially in respect ot Mason single family homes. The drawback is a fairly limited inventory for sale. 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. Check the search links below to view Mason condos currently for sale (the results include ACTIVE and PENDING, so look under the left photo in the results to distinguish).
Search Mason Ohio Condos For Sale Under $150000
Search Mason Ohio Condos For Sale $150000 to $300000
Search Luxury Mason Ohio Condos For Sale $300,000 And Up
For new construction Mason condos, 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
May 2013 Mason Condo Market Report
April 2013 Mason Condo Market Report
March 2013 Mason Condo Market Report
February 2013 Mason Condo Market Report
January 2013 Mason Condo Market Report
December 2012 Mason Condo Market Report
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October 2012 Mason Condo Market Report
September 2012 Mason Condo Market Report
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