The Mason Ohio condo market continues to be a small segment of the Mason real estate market! The main reason? Purely a scarcity of Mason condos for sale. With an increase of a whopping ONE from early December until today, 13 condos not under contract is just not much of a selection! And with a big drop in the condos under contract, we've got a market that needs more supply SOON to satisfy buyer demand! Consistent from last month, the nice condos are moving SUPER FAST, with half of them under contract in 5 days or less! ACT FAST if you're looking to buy and see one that interests you! The edge is definitely to the seller who has an appropriately priced condo in move in ready condition.
Stay with us for the whats, whys and hows of the Mason condo market! And a bonus at the end, easy to use Search For Mason Ohio Condos For Sale links! And if you want to know How Much Is My Mason Condo Worth?, just click the link, fill out the form and we'll be in touch soon!
If you're interested in the Mason Ohio Single Family Home Update for December just click the link for the details.
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.
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 and even $400k price point. So whether you want an economy condo, or the luxury version, we can help you find the right Mason condo for you!
Our listing in Villas of Hunters Green, 6483 Partridge Way SOLD !
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 to present:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Sold: 14 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) UP 2
Average Price: $171,353 UP $15k
Median Price: $152,500 DOWN $12k
Days on Market Average for SOLD: 26 UP 4 (Median 5 Days)
Condos Active 1/6/17: 13* UP 1
Condos Pending 1/6/17: 18 DOWN 10
Average Sales/List %: 96.3% DOWN 2.5%
Most Expensive Condo Sold: $335,000
Least Expensive Condo Sold: $88,500
*There are two communities offering new construction condos and not all are listed in Cincinnati MLS so they're NOT included in the stats above and will also not show in the search links below. If you're interested in new construction ranch condos at approximately $270-400,000 in price or patio homes in the $350-550,000 range, contact us at 513-520-5305 and we'll provide details.
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Same as November, there's almost nothing to buy. Only 13 condos left not under contract. Affordable condos continue to move quickly!
- Not much overall change in prices. Basically we're back to October's numbers.
- 3 condos sold below $100k and 3 above $200k.
- 16 completed sales is a typical December, especially considering the lack of condos for sale. With only 18 condos under contract, January MAY match December, but unless some new inventory comes on the market soon we expect some decline in total sales. Again, not a total surprise, take a look at past Januarys in the chart and you'll see single digit sales aren't unusual.
- This bears repeating from past months: there ARE some new construction opportunities not reflected in the 13 condos for sale, but they're going to cost you around $300,000 or more. Lakeside Cove, Fox Hollow and Beacon Hill offer new construction opportunities if you've got the budget for them. Fyi, Lakeside Cove has poured all their foundations and is almost done with the community. Immediately adjacent to Mason are some other new construction condos if being directly in Mason isn't a concern. Contact us for details Liz@LizSpear.com or 513-520-5305. Patio homes and condos are a specialty of ours.
- Distressed condos (foreclosures and short sales) for sale are currently nonexistent. None sold last month, nor the month before and none are currently for sale.
So what does this mean to you as a Mason Ohio condo owner?
NO CHANGE FROM NOVEMBER. Bottom line: SELLERS HAVE THE EDGE!! With almost no condos for sale the good ones are being snapped up quickly and for very little discount off asking price. Especially in the $225k and below price range. Sub $100k condos that are not updated might take longer to sell.
We have a solid track record for selling Mason condos, so we'd love to help you achieve your real estate goal of selling your Mason condo.
Mason condos will remain in demand because they're an affordable entry point into Mason living versus the average Mason single family home selling well into the $300ks. The only niche that is a bit slower are the luxury Mason condos, as that segment is competing against new construction.
For an evaluation of your condo's marketability, please contact us at 513-520-5305.
So what does this mean to you as a potential Mason condo buyer?
ALSO NO CHANGE HERE EITHER: The good condos are selling quickly and selection is VERY, VERY limited. It won't take long to determine if there's a Mason condo that will work for you. However, new construction is still a possibility and not all of them make it into MLS (and they're not cheap either). We can help with those too, even if they're not in Cincinnati MLS. We represent YOU and not the builder, and it costs you nothing extra to hire us to help you!
If you HAVE to have a Mason home, but don't like the pricing premium for a regular single family home, Mason condos make a great alternative (but don't forget to factor in the HOA fees). Use our links below to check availability for your price range.
And if you need an FHA loan to finance, quite a few of the condo communities are NOT eligible for FHA certification. Check with us to verify the condo that interests you can be FHA financed. The same applies for VA financing.
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).
If you're interested in buying a Mason condo, please contact us 513-520-5305 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
Recent Mason Condo Market Reports: