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

Mason single family homesChristmas is fast approaching.  We've had snow.  The temps are consistently cold.  That USUALLY means we'll have a slow down in the Mason real estate market.  Will the usual hold true this year?  And is it impacting your home's worth?  Stay with us for all the details and even Search Mason Ohio Homes For Sale links at the end!

There is no change in why Mason continues to outperform the majority of the Warren County real estate market, especially for Mason single family homes.  There's a host of reasons why Mason stays in high demand*, and inventory seems to be tightening up in the prime communities! 

Mason is home to many professionals and upper management, is culturally diverse and as such is more resistant to market changes than other market segments.  

We'll cover Mason condos in our Mason Ohio 45040 Condo Market Report October 2014.

All data is derived from the Cincinnati MLS system and involves only Mason homes sold with  REALTOR® involvement and entered in MLS. 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 Towns To Live list for 2013 & #100 Safest Place to Live by NeighborhoodScout, Mason has received recognition confirming it as a great place to call home!  With top notch public schools, extensive entertainment and dining options, and a premier community center combined with superb accessibility to downtown Cincinnati, Mason continues to be THE hot area to live in Warren County.

Carmelle community of Mason Ohio 45040

 

 

 

 

Upscale homes and new construction in Carmelle!

Mason offers a full range of price points and new construction is becoming more readily available.  There are a number of older developments featuring 1950s and 1960s vintage brick ranch homes to the other end of the spectrum with golf course community homes in excess of $1 million dollars!  In general, you can expect to pay a premium for Mason homes when compared to communities further away from Cincinnati.

So, on to the data!
 
First up is the number of Mason single family homes sold on a month by month basis for 2010 through present:

Mason Single Family Home Market Report

Next is the Mason median price summary chart.

Mason Single Family Home Market Report

 Mason Single Family Home Category Data Summary:

Homes Sold: 40 (2 Bank/Government Owned, 2 Short Sale)  DOWN 4

Average Price:  $367,377 DOWN $44k

Median Price:  $280,000 DOWN $51.5k
Mason Ohio Home

Days on Market Average:  90 DOWN 3

Homes Active 12/11/14:  159 DOWN  14

Homes Pending 12/11/14:  45 DOWN 20

Average Sales/List %:  96.7% UP .7%

Most Expensive Home Sold:  $1,640,000

Least Expensive Home Sold:  $84,250

 

So what does this all mean?   What are the key takeaways this month?

  • Yes, we've slowed down, but we expected that.  Sales volume off a bit, but don't read too much into the price drops, as the previous month we'd had a spike up.  We're still better than most Novembers, even if November 2014 was the lowest median price point of the year.  
  • Luxury home sales (above $500,000) accounted for 7 of the 40 solds but unlike last month with 3 above $1 million, in November just 1 home above $1 million.  And that last bit is in a nutshell why the average price dropped so much from October.
  • 45 homes under contract shows we're definitely in a slowdown.  Couple that with only 159 total homes not under contract and for Mason standards, small inventory when you consider that's the entire price range.
  • Distressed properties (foreclosures and short sales) are SCARCE!  Only four of the 40 homes sold were distressed, and only 5 of the 159 not under contract are distressed. 

 

So what does this mean to you as a Mason Single family home owner?  Yes, it's a slower time of year so you're not going to have the banging down your doors frenzy we saw last spring and summer, but there's still demand out there and IF you're priced and marketed properly, selling your home WILL happen.  But ignore the basics and you can still have a challenge EVEN IN MASON.  Buyers still aren't keen on homes that show their age or feature decor from 20+ years ago.  There is a relative scarcity of homes for sale and some subdivisions have no homes for sale at all. 

For an evaluation of your home's marketability and worth, please contact us 513-520-5305 or Liz@LizSpear.com. And of course your personal circumstances will have impact.  We'll give you the best best advice, whether to start now, or delay until the market better suits your needs. 

So what does this mean to you as a potential Mason home buyer?  While the market may have slowed, there's still some critical factors that haven't changed:  low inventory & high demand communities.  That still means that when new homes come on the market you'd better react fast, and if you like it, get an offer on it ASAP.  And we don't recommend playing the lowball game because it's just not likely to work for you.  

The longer you wait to purchase a Mason home the more likely it's going to cost you more to buy later.  When you're interested in buying a Mason home, please contact us at 513-520-5305 with your needs and we'll help you find the right Mason community for you! 

And get yourself a dedicated buyer's agent, whether for resale OR new construction!!  The listing agent works for the seller, and when you hire us we work for YOU.  We have incentive to get you the best possible price!

Search for Mason Ohio Homes For Sale Under $200,000

Search for Mason Ohio Homes For Sale $200,000 to $400,000

Search for Mason Ohio Homes For Sale $400,000 to $600,000

Search for Mason Ohio Homes For Sale $600,000 and higher

Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz  

 

Recent Mason Market Reports:

October 2014 Mason single family home report

September 2014 Mason single family home report

August 2014 Mason single family home report

July 2014 Mason single family home report

June 2014 Mason single family home report

May 2014 Mason single family home report

April 2014 Mason single family home report

March 2014 Mason single family home report

February 2014 Mason single family home report

January 2014 Mason single family home report

December 2013 Mason single family home report

November 2013 Mason single family home report

October 2013 Mason single family home 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

Our Website:  www.LizTour.com

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John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Are you wondering what your Mason Ohio home is worth?  Are you looking for experienced and knowledgeable Realtor to help you?  Simply contact Liz and Bill Spear for assistance. 

Dec 10, 2014 09:57 PM #1
Rainmaker
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Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

I thought you wanted an answer to the question.  I was going to say at least five golden rings!

Dec 10, 2014 10:11 PM #2
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Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: Excellent job of explaining what all the data means for Mason Ohio real estate buyers and sellers. This is quality information they need to see.

Dec 11, 2014 03:55 AM #3
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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)

John, And we've added the link at the top so they can fill out an online form and have us answer the question.

Roger, Around here, AT LEAST five golden rings :)

Anita, Thanks!  We try to put the context out there for potential home buyers and our home sellers to be.

Dec 11, 2014 09:15 AM #4
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Liz and Bill Spear  You are the agents to call when looking to buy or sell a home in Mason Ohio . You are the Agents in the KNOW 

Dec 11, 2014 11:56 AM #5
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