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

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.It's coat weather for sure as Jack Frost has been more and more apparent lately!  Now the good news for Mason condo owners is shoveling snow isn't normally part of their life!  So as the temps have chilled has the Mason condo market followed suit? 

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 November market report update just click the link for the details (coming December 11th).

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:  14 (2 Bank/Government Owned, 0 Short Sale) UP 4

Average Price:  $139,440 UP $17kA Mason Condo in Oakwood Lakes

Median Price:  $137,500 UP 3.5k

Days on Market Average for SOLD:  67 DOWN 45

Condos Active 12/10/14:  29* DOWN 2*

Condos Pending 12/10/14:  15 DOWN 9

Average Sales/List %:  95.7%  DOWN .3%

Most Expensive Condo Sold:  $430,000

Least Expensive Condo Sold:  $88,900

 *There are some condos incorrectly listed in Cincinnati MLS under Single Family Homes, so they're NOT included in the stats above and will also not show in the search links below.  If you're interested in new construction ranch condos at approximately $270-400,000 in price, contact us at 513-520-5305 and we'll provide details.

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

Key takeaways this month: 

  • Could the selection get much smaller???  Under 30 condos listed for sale in Mason is just not much to pick from, and once you add a couple of extra criteria, the selection gets REALLY small very quickly.
  • Sales actually went UP from last month and are comparable with a typical November when you compare to the last couple of years.
  • Prices increased, but one of those 14 sales is the answer for an old Captain Kangaroo episode of which one of these is NOT like the others!  That sale at $430,000 is almost $250,000 more than the next closest sale.  That difference alone applied across 14 homes means a higher average sales price by ALMOST $20k.  For the most part, sales were all in the $100s, with only 2 sales below $100k and the one sale at $430k.
  • Same as last month here:  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 seems to be using up the last of their space.  The Woods on Wilkens has wrapped up new construction.  Immediately 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 2 foreclosures and 0 short sales of the 14 condos sold.  Of the 29 condos not under contract, none 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 4.3%  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?   The selection keeps getting smaller, so if you price and market right, you should get a sold sign by the driveway (or in the window as your development allows!).  If you want to sell and head to someplace warm before the the next snowfall, there's still time...maybe!  Who knows, it could snow again any day now!  We've got a solid track record for selling Mason condos, so we'd love to help you achieve your real estate goal of selling your Mason condo.

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. 

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 and 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

 

Recent Mason Condo Market Reports:

October 2014 Mason Condo Market Report

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

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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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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, great information in this Mason condo market report. As in so many areas of the country, the inventory starts shrinking this time of year--but at the same time the buyers that are out there are very anxious to find the right home. It really magnifies the need to find a good quality agent! 

Dec 10, 2014 09:47 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)

Tom, The inventory of Mason condos has shrunk to the smallest that we've seen yet! 

Dec 10, 2014 11:56 AM #2
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