Mason Ohio 45040 Condominium Market Report January 2014

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747
https://activerain.com/droplet/4tgK

Mason Ohio 45040 Condominium Market Report January 2014

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.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 condo community of Mason Ohio 45040

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:
Mason Ohio Condominium Market Report
Next is the Mason condo median price summary chart.
Mason Single Family Home Market Report
Mason Condominium Data Summary:

Condos Sold:  5 (0 Bank/Government Owned, 0 Short Sale) DOWN 10

Average Price:  $152,600 UP $20kA Mason Condo in Oakwood Lakes

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." 

4261 Eastlake Dr Mason OH 45040  condo soldSo 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).

Search Mason Ohio Condos For Sale Under $150000 

Search Mason Ohio Condos For Sale $150000 to $300000

Search Luxury Mason Ohio Condos For Sale $300,000 And Up

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 

December 2013 Mason Condo Market Report

November 2013 Mason Condo Market Report

October 2013 Mason Condo Market Report

September 2013 Mason Condo Market Report

August 2013 Mason Condo Market Report

July 2013 Mason Condo Market Report

June 2013 Mason Condo Market Report

May 2013 Mason Condo Market Report

April 2013 Mason Condo Market Report

March 2013 Mason Condo Market Report

February 2013 Mason Condo Market Report

January 2013 Mason Condo Market Report

December 2012 Mason Condo Market Report

November 2012 Mason Condo Market Report

October 2012 Mason Condo Market Report

September 2012 Mason Condo Market Report

August 2012 Mason Condo Market Report 

July 2012 Mason Condo Market Report

Posted by

Serving Warren County Ohio & Adjacent Areas

 

The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747

William (Bill) Spear, CRS, Ohio License SAL.2004011109  Kentucky 77938
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Bill Direct:  513-520-5305
Liz Direct: 513-265-3004     
Fax: 866-302-8418

MailTo:  Liz@LizSpear.com

Search Homes:  Https://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Ohio Warren County Mason
Groups:
RE/MAX Active Rain Bloggers
Ohio Active Rainers
Market Reports
Tags:
condo
market report
mason

Spam prevention
Show All Comments
Rainmaker
350,532
ReadySetLoan Condo Approval Team
ReadySetLoan Condo Team LLC - South Windsor, CT
The FHA/VA Condo Project Approval Specialists

This is one of the most detailed condo market reports that I have seen.  You certainly know this area well!

Feb 06, 2014 11:56 PM #1
Ambassador
2,725,002
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Eric, Thanks!  We've had success selling Mason condos given the opportunity.  It's a smaller niche, but an important one in the Mason community.

Feb 07, 2014 12:00 AM #2
Rainer
355,932
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

BLiz, I agree, that's a "WOW" of a report! I may be getting into that niche in our area as I look to better identify how I can contribute to our team. We'll see. Anyway, I may steal an idea or two...

Feb 07, 2014 12:44 AM #3
Ambassador
2,725,002
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Tom, Borrow whatever helps you!  I tend to go deep with our market reports, it's the engineer in me :)   Bill

Feb 07, 2014 12:49 AM #4
Rainer
355,932
Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

BLiz, I had to laugh. I said "steal" and you said "borrow". I guess it's the former local government employee in me!

Feb 07, 2014 01:52 AM #5
Ambassador
2,725,002
Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Tom, I figure you can't steal what is freely given!  As long as someone isn't in my local market we're not competitors :)

Feb 07, 2014 01:54 AM #6
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,725,002

Liz and Bill Spear

RE/MAX Elite Warren County OH (Cincinnati/Dayton)
How Can We Help You? Just Let Us Know!
*
*
*
*
Spam prevention

Additional Information