What's My Mason Ohio Condo Worth? September 2014 Market Update

By
Real Estate Agent with RE/MAX Elite 513.520.5305 www.LizTour.com SAL.2002007747

What's My Mason Ohio Condo Worth?  September 2014 Market Update

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.The weather is getting cooler.  Leaves changing and falling fast.  With that seasonal change there's typically a slowing of the Mason condo market as some of the potential buyers head to warmer climes until Spring returns.  Did September start the season market change? 

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 September 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 condo community of Mason Ohio 45040

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:
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:  19 (3 Bank/Government Owned, 1 Short Sale) UP 1

Average Price:  $131,642 DOWN $29kA Mason Condo in Oakwood Lakes

Median Price:  $118,900 DOWN $33.5k

Days on Market Average for SOLD:  40 UP 13

Condos Active 10/11/14:  40 DOWN 4

Condos Pending 10/11/14:  24 UP 5

Average Sales/List %:  96.0%  DOWN 1.6%

Most Expensive Condo Sold:  $200,000

Least Expensive Condo Sold:  $80,000

 

So what do the stats indicate about Mason Ohio condo sales? 

Key takeaways this month: 

  • Sales volume actually INCREASED from last month!  And so did the number of condos under contract! But looking at the number of sales for past Septembers, 19 is right in the normal range for condos sold.
  • Don't be scared by the price drops from last month to this month.  We had big jumps last month on some higher end condo sales.  This month we're back to a "normal" mix:  3 condos below 100k, none above $200k.
  • Condo inventory is getting even scarcer!  Down to 40 total condos now, and that's really not that many to pick from! There ARE some new construction opportunities not reflected in that 40, but they're going to cost you around $300,000 or more.
  • Distressed condos (foreclosures and short sales) continue to be light, with 3 foreclosures and 1 short sales of the 19 condos sold.  Of the 40 condos not under contract, 3 are foreclosed and 1 is a short sale.  Overall, a VERY small percentage of the Mason condo market.
  • There's a little room for negotiation, but don't expect a huge discount, with 4%  average difference from asking price to final sales price. 
  • Time to get under contract increased to 60 days.  Still not bad! 

 

4261 Eastlake Dr Mason OH 45040  condo soldSo what does this mean to you as a Mason Ohio condo owner?   You've got a significant advantage with inventory WAY down.  We're still in a steady sales volume range for at least a couple of more months.  If you want to sell and head to someplace warm before the snow season arrives, there's still time, but not much!!  Keys continue to be pricing right and marketing strong with a listing team that understands the Mason condo market (and we do!). 

Mason condos will remain in demand because they're an affordable entry point into Mason living versus the average Mason single family home selling well into the $300ks.   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. 

For an evaluation of your home's marketability, please contact us at 513-520-5305.  

So what does this mean to you as a potential Mason condo buyer? 

The advice for Mason condo buyers hasn't changed.  With inventory pretty restricted, it won't take long to determine if there's a Mason condo that will work for you.  We thought last month's availability was low and we've since went even lower!   However, new construction is still a possibility and not all of them make it into MLS, but they don't come cheap.  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.

And if you need an FHA loan to finance, quite a few of the condo communities are NOT eligible for FHA certification.  Check with us to verify the condo that interests you can be FHA financed.

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 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 

 

August 2014 Mason Condo Market Report

July 2014 Mason Condo Market Report

June 2014 Mason Condo Market Report

May 2014 Mason Condo Market Report

April 2014 Mason Condo Market Report

March 2014 Mason Condo Market Report

February 2014 Mason Condo Market Report

January 2014 Mason Condo Market Report

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

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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

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Rainmaker
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: It sure looks like the right time for Mason Ohio condo owners to call you and get their property on the market. With limited options for buyers it is a prime opportunity to get seen and sold.

Oct 11, 2014 05:36 AM #1
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Anita, We talked to a possible Mason condo seller yesterday, just a matter of finding out if there's anything suitable for them to move to.  

Oct 11, 2014 07:31 AM #2
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Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Great information for potential clients. People need to have this kind of information.

Oct 12, 2014 08:24 AM #3
Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Barbara-Jo, And we provide it ever month or as needed if someone calls us. 

Oct 12, 2014 09:16 AM #4
Rainmaker
936,253
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi BLiz, great source of information for relocation condo buyers in Mason. It shows that you are the local expert.

Oct 15, 2014 12:00 PM #5
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kwee, Out showing more Mason condos to buyers tonight, it's a good complement to our patio home niche.

Oct 15, 2014 12:06 PM #6
Rainmaker
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Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi BLiz, hope that you have a productive showings. BTW thanks for your subscription to my blog.

Oct 15, 2014 12:09 PM #7
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