Mason Ohio 45040 Condominium Market Report March 2014
Winter has left the area and Spring is here! Flowers blooming, the temperatures are warmer, and when water falls from the sky, it's rain and not snow! So has the warmth turned up the heat on the Mason Ohio condo market? 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 March 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!
Oakwood Lakes, 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: 19 (2 Bank/Government Owned, 1 Short Sale) UP 11
Average Price: $139,397 DOWN $1k
Median Price: $125,100 DOWN $3k
Days on Market Average for SOLD: 98 UP 1
Condos Active 4/7/14: 51 DOWN 5
Condos Pending 4/7/14: 31 UP 7
Average Sales/List %: 97.4% UP 2.1%
Most Expensive Condo Sold: $299,000
Least Expensive Condo Sold: $75,150
So what do the stats indicate about Mason Ohio condo sales?
A couple of things jump out very quickly: Sales are back in a big way, with Solds up significantly since last month and so are Pendings, with prices basically holding steady. The other key to note: INVENTORY SHRANK. Only 51 condos for sale not under contract just isn't a lot to pick from once you slice down for the features you need (number of bedrooms, price point, etc.). It may not take long at all to determine if there's a condo or two out there that fits your specifications.
Distressed (foreclosures and short sales) are having minimal impact, with 3 of the 19 sales falling into the distressed property category. Of the 51 for sale there is 1 foreclosure and 2 potential short sales. So if bargain hunting is your thing, you may be disappointed with the Mason condo market.
Negotiated sales prices tightened this month, so not a lot is being given off the list price.
In a nutshell, Mason condo sales for March were strong, and the number of Pendings indicates a strong April too.
So what does this mean to you as a Mason Ohio condo owner? Not much has changed since last month except there are even fewer condos for sale and the number of Pendings indicates the buyers are out in full force. The limited selection works in your favor, but your price point has some influence on that too. There are quite a few condos in the sub $100k category, but as you head up market the selection things out. However, as you move towards the $300k range, you're competing head to head with the new construction in Beacon Hill, The Woods on Wilkens and other area new condo 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?
Not much changes here with the exception of noting with inventory dropping, you'll have less to pick from and more competition for the best Mason condos. If you HAVE to have a Mason home, but can't afford the pricing premium for a regular single family home, Mason condos make a great alternative (but don't forget to factor in the HOA fees). Use our links below to check availability for your price range.
With the limited inventory, it won't take long to determine if there's a good fit for you. 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