November was a great month for the REALLY expensive homes in Mason to sell, with three topping a million dollars. Overall the market was much stronger than typical for this time of year. Stay with us for more details for Mason homes!
Is the activity affecting your Mason Ohio home's worth? Stay with us for all the details and even Search Mason Ohio Homes For Sale links at the end!
We'll cover Mason condos in our Mason Ohio 45040 Condo Market Report November 2017.
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.
Long Cove, home to many of Mason's luxury homes
So, on to the data!
First up is the number of Mason single family homes sold on a month by month basis for 2010 through present:
Next is the Mason median price summary chart.
Mason Single Family Home Category Data Summary:
Homes Sold: 53 (0 Bank/Government Owned, 0 Short Sale, 9 New Construction) UP 16
Average Price: $453,285 UP $113.5k
Median Price: $348,000 UP $26k
Days on Market Average: 67 UP 14 (median time 30 days)
Homes Active 12/6/17: 148 DOWN 20
Homes Pending 12/6/17: 59 DOWN 21
Average Sales/List %: 97.7% UP .8%
Most Expensive Home Sold: $2,500,000
Least Expensive Home Sold: $120,000
What are the key takeaways this month?
- First, don't read much into the HUUUUUUGE spike in average prices. It was a month with an exceptionally high top sale. When homes typically don't break the $1,000,000 threshold, this month 3 went over that level. Couple that with the fact that 11 of the 53 homes sold equalled $500,000 or better and you get a significant push up in the average price. On the otherhand, median price moved up, but a more reasonable amount. And median price is a better indicator of the overall market behavior.
- The overall number of sales completed was exceptionally good for a November when compared to 2010-2016.
- Time to sell is slowing down.
- The number of homes under contract decreased, but that's to be expected. With homes not under contract shrinking, fewer new entries to the market, the holiday season, etc., it all adds up to a market that typically slows this time of year.
New construction communities are staying busy with Roberts Park, Hudson Hills and Ambleside Meadows moving quickly. Need help buying any new construction homes, just give us a call at 513-520-5305. We work for you and NOT the seller and the good news is it doesn't cost extra for us to work for you (and you don't get a price break for going solo).
- 48 of the 148 listed homes not under contract are new construction.
- Distressed properties (foreclosures and short sales) remain scarce in Mason! None of the 53 homes sold were distressed, and only 3 of the 148 not under contract is distressed.
So what does this mean to you as a Mason Single family home owner?
No change from last month. The market is still slowing as expected for this time of year. If you're in the luxury category, expect the sale to take longer as you're competing with plenty of new construction offerings.
Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago, so the more update to date and the more compelling your asking price, the more likely buyers will flock to your door.
For an evaluation of your home's marketability and worth, please contact us 513-520-5305 or Liz@LizSpear.com.
So what does this mean to you as a potential Mason home buyer?
The best homes still move quickly, just not as quickly as the summer months. And decreased inventory limits buyer choice. Some of the homes on the market have notable problems (busy roads, etc.) that will make them unsuitable for most buyers. Move fast and bid strong or expect to lose out on the best homes. A weak offer may mean you're going to keep looking even longer. We highly recommend do NOT wait to write that offer or you may lose the chance to own that home.
The longer you wait to purchase a Mason home the more likely it's going to cost you more to buy later. When you're interested in buying a Mason home, please contact us at 513-520-5305 with your needs and we'll help you find the right Mason community for you!
And get yourself a dedicated buyer's agent, whether for resale OR new construction!! The listing agent works for the seller, and when you hire us we work for YOU. We have incentive to get you the best possible price!
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz
Recent Mason Market Reports: