Mason Ohio 45040 Condominium Market Report January 2014
This winter has been bitter cold! Did the cold temps put the deep freeze on the Mason Ohio condo market in January? The short answer: YES! For more details, stay with us for the whats, whys and hows! And a bonus at the end, easy to use Search For Mason Ohio Condos For Sale links!
If you're interested in the Mason single family home January 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 to present:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Sold: 5 (0 Bank/Government Owned, 0 Short Sale) DOWN 10
Average Price: $152,600 UP $20k
Median Price: $155,000 UP $41k
Days on Market Average for SOLD: 63 DOWN 74
Condos Active 2/7/14: 66 DOWN 3
Condos Pending 2/7/14: 14 UP 4
Average Sales/List %: 96.6% DOWN .2%
Most Expensive Condo Sold: $319,500
Least Expensive Condo Sold: $43,500
So what do the stats indicate about Mason Ohio condo sales?
First of all, pick up a REALLY BIG GRAIN OF SALT, because ONLY 5 condos sold means we don't put much weight on the stats this month. Yes, sales were VERY low, but when you compare to Januarys in years past, it's obvious January is not traditionally a great month, and that makes perfect sense. The temps are bitter cold and who are some of the primary buyers for Mason condos? Snowbirds, and snowbirds are someplace WARM in January, and frankly Mason has been anything but warm recently!
Now outside of the low sales numbers, the stats aren't bad. No distressed properties sold in January, and of the 63 condos for sale, only 3 are foreclosed and 5 are short sales. The pricing for the 5 sales was fairly uniform, the least and most expensive condos sold last month were the only ones not right around $150k in price.
Pendings at 14 signal a better month in February for closed sales. Days on market dropped back closer to normal, but don't read a huge positive into the 74 day drop because the month before anad shot UP by 66 days (again, condo sales are low and numbers are much more easily moved up or down the dial).
Negotiated sales prices are still only a few percent off asking, so a little wiggle room is typically built into the sales prices.
In a nutshell, Mason condo sales for January acted as we anticipated. This is straight from last month's market report: "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? Pretty much same, same from last month. Cold weather means fewer Mason condo buyers are out shopping. Mason condos are selling, but again, not huge volumes to be expected. The really positive news for you? You don't have much competition! Only 63 Mason condos not under contract, although don't forget about the new construction that is not in MLS in communities like Beacon Hill, The Woods on Wilkens and Fox Hollow. If you're on the upper price scale for condos, you're going head to head with the new condos in those communities.
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?
Pretty much status quo here too: 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