Mason Ohio 45040 Condominium Market Report October 2013
We've entered the cooler season and Daylight Savings Time has brought the dark early. Has the Mason Ohio condo market started a winter slumber, or still vibrant? Stay with us for the latest info on the Mason 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 October 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 #7 on the Money Magazine Top 50 Best Small Town Places To Live list for 2013, 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!
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: 17 (1 Bank/Government Owned, 0 Short Sale) DOWN 6
Average Price: $137,485 UP $8.5k
Median Price: $119,250 DOWN $6k
Days on Market Average for SOLD: 68 UP 8
Condos Active 11/8/13: 68 DOWN 4
Condos Pending 11/8/13: 25 UP 2
Average Sales/List %: 96.2% UP 2.8%
Most Expensive Condo Sold: $316,393
Least Expensive Condo Sold: $30,800
So what do the stats indicate about Mason Ohio condo sales?
Overall, the Mason condo market is a bit mixed. There was quite a bit of bargain shopping last month with 5 of the 17 condos sold under $100k, and the one condo sold for $30,800 was an auction of a condo worth about twice that but with the baggage of a tenant that might need evicted! So definitely a special circumstance, but nonetheless it does still count in the market stats! On the other hand, the $316k sale helped pull the average up, so put those circumstances together you get the average moving up and median down!
The time on market increased a bit, but condos under contract increased slightly and considering the "usual" dip in sales for the winter monthes, that 25 bodes VERY well for the next month. As you can see, there's some negotiating room between list price and final sales price.
So what does this mean to you as a Mason Ohio condo owner? Overall the Mason condo market is stable in it's own way. With the wide variation in pricing and relatively low volume, the data can shift rather easily just based on the balance of whether the lower end or higher end condos sold more in a given month.
Traditionally the upcoming months will be slower, but only the future will tell the full story. Mason condos DO sell throughout the year, so if you have the patience to work the winter months, your sale CAN still happen.
For an evaluation of your home's marketability, please contact us.
So what does this mean to you as a potential Mason condo buyer?
As a buyer, there continues to be good opportunity for buying a Mason condo. Comparing the pricing of Mason condos to Mason single family homes there's a significant opportunity to live in Mason WITHOUT nearly the expenditure.
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).
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