Mason Ohio 45040 Condominium Market Report December 2013
How did 2013 finish for the Mason Ohio condo market? As cold as the weather, or more lively than expected for this time of year? 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 December 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!
Marival, 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: 15 (3 Bank/Government Owned, 1 Short Sale) UP 1
Average Price: $132,503 UP $3k
Median Price: $114,000 DOWN $3k
Days on Market Average for SOLD: 137 UP 66
Condos Active 1/10/14: 66 UP 1
Condos Pending 1/10/14: 10 DOWN 11
Average Sales/List %: 96.8% UP .3%
Most Expensive Condo Sold: $368,074
Least Expensive Condo Sold: $53,500
So what do the stats indicate about Mason Ohio condo sales?
MIXED. That's the best description, but Mixed is the norm for Mason condos in December. Part of the demand for Mason condos is driven by snowbirds, and when the snowbirds are in Florida, there's not as much demand, but for a December it was actually a good month!
Another word to describe Mason condos in December: BARGAINS. The bargain hunters were shopping, and 7 of the 15 sales were for less than $100k. Four of the 15 sold were foreclosed or short sales, so again downward pressure on pricing. The result of that bargain shopping is a median price that looks a lot like the previous Decembers.
The days on market skyrocket? Don't worry about that too much, as 2 of the 15 condos sold took over a year to sell, and that seriously pushed up the average. The median time as 80 days, and that's more representative of the expected time to sell in Mason.
Don't expect a huge January 2014 because based on the number of Pendings, January will be a VERY low volume month (not unusual), and with low volume you can expect prices to also be more easily swayed.
So what does this mean to you as a Mason Ohio condo owner? Not much has changed from last month. We have the typical cold weather mixed market. The good news for you is there is NOT much inventory. 66 condos really aren't that many for serious buyers to pick from. Prepare your condo for sale, price well and hire a team like us that knows how to market AND sell Mason condos and you can make that move you want to 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?
Not too much change here: as a Mason condo buyer, you have to like the price discount of condos versus a Mason single family home. While a luxury condo might cost you close to the price of a lower end Mason single family home, for the most part you're going to be living well for under $200k, and if you have simple needs there are older condos available sub $100k.
The Mason condo market has something for each end of the price range AND the points in between. The Mason condo market is a bit scarce on inventory, so it won't take long to determine if there's a Mason condo on the market that fits your needs. One or two trips out and you're either going to have found your Mason condo to call home or know there's nothing out there that works for 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