What's My Mason Ohio Condo Worth? June 2014 Market Update
Summer is in full swing, with the July 4th weekend winding down! The temperatures have been cooler, but what hasn't been cool is the Mason condo market! June was a scorching month for Mason condo sales! As the market goes, so goes the worth of your Mason condo.
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 June 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: 29 (0 Bank/Government Owned, 1 Short Sale) UP 8
Average Price: $162,439 DOWN $8k
Median Price: $158,388 DOWN $7k
Days on Market Average for SOLD: 102 UP 18
Condos Active 7/6/14: 46 DOWN 21
Condos Pending 7/6/14: 41 UP 11
Average Sales/List %: 96.7% UP .3%
Most Expensive Condo Sold: $357,770
Least Expensive Condo Sold: $71,500
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Sales volume ROCKED! Tied for best single month since January 2010.
- Inventory DROPPED, HARD! More condos sold, more under contract, FEWER left to choose if you're in the condo market.
- Sales prices dropped, but not enough to be significant. Basically some bargain shopping, with 6 of the 28 sales BELOW $100k. 5 of the 28 condos sold above $200k.
- Distressed condos (foreclosures and short sales) were practically non-existent, with 1 short sale of the 28 condos sold and of the 46 condos not under contract, 3 are foreclosed and 1 is a short sale. Overall, a VERY small percentage of the Mason condo market.
- For every Mason condo for sale, there's ALMOST another already under contract: 46 for sale, 41 under contract.
- There's a little room for negotiation, but don't expect a huge discount, with just a little over 3% difference from asking price to final sales price.
So what does this mean to you as a Mason Ohio condo owner? This is one of the best times in years to be a Mason condo owner looking to sell! Obviously plenty of buyers are out and getting deals done. They recognize the value of a Mason condo and how condos are a real value compared to the much higher (almost DOUBLE) price of a typical Mason single family home. The only niche that is a bit slower are the luxury Mason condos, as that segment is competing against new construction in places like Beacon Hill, The Woods on Wilkens and the latest addition: Lakeside Cove at Hunter's Green.
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 good news? It won't take long to determine if there's a Mason condo that will work for you. The bad news? It's a VERY limited selection that makes it so quick to determine. This is the lowest number of Mason condos for sale that we've seen. However, new construction is still a possibility and not all of them make it into MLS. We can help with those too, even if they're not in Cincinnati MLS. We can represent YOU and not the builder, and it costs you nothing extra to hire us to help you!
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