Mason Ohio 45040 Condominium Market Report April 2014
The weather has warmed, Spring is here!!! After the Winter that just wouldn't seem to end the arrival of the blooms and green is quite welcome! Has the warmer temps put the bloom 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 April 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 (0 Bank/Government Owned, 0 Short Sale) FLAT
Average Price: $132,350 DOWN $7k
Median Price: $115,000 DOWN $10k
Days on Market Average for SOLD: 81 DOWN 17
Condos Active 5/9/14: 64 UP 13
Condos Pending 5/9/14: 33 UP 2
Average Sales/List %: 96.5% DOWN .9%
Most Expensive Condo Sold: $279,900
Least Expensive Condo Sold: $71,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Sales flat compared to March, but still better than most Aprils
- More inventory to select from, but still fairly limited
- Prices shifted down slightly, but there was a LOT of bargain condo shopping, with 6 of the 19 sales below $100k.
- Mason condos are selling faster, but not nearly as fast as Mason single family homes.
Distressed (foreclosures and short sales) are having minimal impact, with none of the 19 sales falling into the distressed property category. Of the 64 Mason condos for sale there are 2 foreclosures and 2 potential short sales. So if bargain hunting is your thing, you may be disappointed with the Mason condo market.
And there is still some room for negotiating, with a few percent difference between condos sold and asking price.
So what does this mean to you as a Mason Ohio condo owner? Not much has changed since last month other than you have slightly more competition than last month. There are quite a few condos in the sub $100k category, but as you head up market the selection thins 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. And there's new construction ranch condos being planned for Lakeside Cove in Hunter's Green starting at around $290,000.
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. There's limited inventory, but slightly better than March. It really won't take long to find out if there's a match for you currently for sale! 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.
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 513-520-5305 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