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

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.Fall has arrived, and it's the time of year that it's really good to be a condo owner because YOU don't have to rake leaves!!  But often this time of year the condo owners are heading south to warmer temps and some serious golf time!  Did October's Mason condo market reflect that typical annual slow down? 

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 October 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:  10 (1 Bank/Government Owned, 0 Short Sale) DOWN 9

Average Price:  $139,440 UP $8kA Mason Condo in Oakwood Lakes

Median Price:  $134,000 UP $15k

Days on Market Average for SOLD:  112 UP 82

Condos Active 11/8/14:  31 DOWN 9

Condos Pending 11/8/14:  24 SAME

Average Sales/List %:  96.0%  SAME

Most Expensive Condo Sold:  $219,900

Least Expensive Condo Sold:  $44,500

 

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

Key takeaways this month: 

  • There just isn't much to pick from!  ONLY 31 Mason condos NOT already under contract.   That's the slimmest pickings we've seen!
  • So what happens when there's not much inventory?  Sales numbers drop too!  October was almost half of September's sales.  10 is the lowest October total since 2010.    The good news, the number of Pending sales is still good, so the next month of two should still be on par for total sales.
  • Prices increased slightly from last month, but with only 10 sales the numbers can be easily moved.  The mix this month was a typical month mix, 3 condos under $100k, 1 above $200k and the bulk in the normal $100's (but there is a Pending sale ABOVE $400k in Fox Hollow!)
  • There ARE some new construction opportunities not reflected in that 31 condos for sale, but they're going to cost you around $300,000 or more.  Lakeside Cove is picking up pace on sales and Beacon Hill continues to do well.  The Woods on Wilkens has wrapped up new construction.  Immeiately adjacent to Mason are some other new construction condos if being directly in Mason isn't a concern.  Contact us for details.
  • Distressed condos (foreclosures and short sales) continue to be almost nil, with 1 foreclosure and 0 short sales of the 10 condos sold.  Of the 31 condos not under contract, 1 is 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. 

 

4261 Eastlake Dr Mason OH 45040  condo soldSo what does this mean to you as a Mason Ohio condo owner?   You're edge just got better with inventory even further down!  And if you've got a fully updated condo you might be under contract in a handful of days (saw that last week with a nicely updated Marival condo).  If you want to sell and head to someplace warm before the snow season arrives, there's still time, but not much!!  Keys for success 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 condo'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.  Your selection is VERY limited, so it won't take long to determine if there's a Mason condo that will work for you.  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 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 don't like 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

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 

 

September 2014 Mason Condo Market Report

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

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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 a great time for Mason Ohio condo owners to give you a call and get their home listed and sold in this market. Buyers are out looking but they need more inventory to check out.

Nov 08, 2014 01:46 AM #1
Rainer
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Tom White
Franklin Homes Realty LLC (615) 495-0752 or www.FranklinHomesRealty.com - Franklin, TN
Franklin Homes Realty LLC, Franklin TN

BLiz you provide a lot of great information for prospective buyers and sellers in the Mason Condo market. It still appears to be a seller's market, so those considering putting their home on the market would be wise to give you a call! 

Nov 08, 2014 04:05 AM #2
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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, The scarcity of condos availability is bordering on the ridiculous.  We've got watches set up for some communities waiting on matches for our buyers.

Tom, Definitely low inventory, and even more so when you start splitting out by price range and features.

 

Nov 08, 2014 07:56 AM #3
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