Mason Ohio 45040 Condominium Market Report May 2014
How has the Mason condo market performed over the last month? 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 May 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: 21 (0 Bank/Government Owned, 0 Short Sale) UP 2
Average Price: $170,743 UP $38.5k
Median Price: $165,000 UP $50k
Days on Market Average for SOLD: 84 UP 3
Condos Active 6/7/14: 67 UP 3
Condos Pending 6/7/14: 30 DOWN 3
Average Sales/List %: 96.4% DOWN .1%
Most Expensive Condo Sold: $258,700
Least Expensive Condo Sold: $110,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Sales volume was in the typical range for a May. When you look at the top chart you'll see that Mason condo sales can be a bit erratic.
- Don't think Mason condos have suddenly shot up in value because of those HUGE jumps in average and median prices. What we have is a change in mix. Most months there are some sub-$100k sales from some of the value priced condo developments. Not this month. A very consistent selection, with no sales below $100k and 6 sales above $200k. That leads to higher price points for this month.
- Mason condo inventory is still pretty limited. About one third of all condos for sale are already under contract.
- There's a little room for negotiation, but don't expect a huge discount.
Distressed (foreclosures and short sales) are having minimal impact, with none of the 21 sales falling into the distressed property category. Of the 67 Mason condos for sale there are 5 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? Mason condo market conditions haven't changed from last month. If you want to sell, you can. However, if your condo is in the high $200's, you may still be challenged as you compete against new construction Mason condos for sale such as Beacon Hill and The Woods on Wilkens. 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?
The biggest drawback to being a Mason condo buyer? Limited selection. When you narrow down the available 67 condos to the ones that have your "must haves" and in the communities you want, the selection can be very limited. The good news? It won't take long to determine if there's a good match for your needs!
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