What's My Mason Ohio Home Worth? March 2015 Update

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

What's My Mason Ohio Home Worth?  March 2015 Update

Mason single family homesThe weather is getting better and we're seeing some buyer feeding frenzies over new home on the market.  Is that an aberration or indicative of another hot spring market?  And is it impacting your Mason Ohio 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 is VERY limited in some of 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 March 2015.

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.

Charleston Park community of Mason Ohio 45040

 

 

 

 

Charleston Park, another popular Mason pool community!

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: 45 (2 Bank/Government Owned, 0 Short Sale)  UP 22

Average Price:  $314,793 DOWN $36k

Median Price:  $265,000 DOWN $23k
Mason Ohio Home

Days on Market Average:  84 DOWN 36

Homes Active 4/7/15:  155 UP  16

Homes Pending 4/7/15:  94 UP 15

Average Sales/List %:  96.3% DOWN .7%

Most Expensive Home Sold:  $845,000

Least Expensive Home Sold:  $79,300

 

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

  • Sales volume was DOUBLE the previous month, but sales prices dropped.  Sales price drops are more a reflection of mix of homes sold.  This month out of 45 homes sold, only 8 sold above $500k, and 4 sold below $100k.  This mix was heavier to the lower end of the price spectrum than more recent months. 
  • Homes selling speed reduced and prime homes in the sweet spot (around $200-300,000 are still selling quickly).   Fact is, we've personally witnessed some feeding frenzies on homes in this price point and contracts within the first few days on market.
  • 94 homes under contract is HUGE portion of the available homes for sale.  Mason buyers are out in force.
  • Distressed properties (foreclosures and short sales) remain scarce in Mason!  Only 2 of the 45 homes sold were distressed, and only 5 of the 153 not under contract are distressed. 

 

So what does this mean to you as a Mason Single family home owner?  No reason to change past advice:  If you're in the non-luxury category, especially if you're at a price point that is considered a starter home for Mason, you've got a serious advantage!  Priced right and marketed right and you're going to have quick action on your home.  There just aren't enough homes for sale to meet buyer demand. 

In the luxury bracket, expect to take longer.  Fact is there's enough new construction luxury homes being built or available for custom building that it's challenging to sell a Mason luxury home.

Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago. 

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?  YOU ARE IN A COMPETITIVE MARKET!!!!  Limited inventory and plenty of buyers after the same homes.  Move fast and bid strong or expect to lose out.  We highly recommend do NOT wait to write that offer or you may lose the chance to own that home.  And be reasonable with your offer, as a few percent is all that is being deducted from the sales price of most homes.

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:

February 2015 Mason single family home report

January 2015 Mason single family home report

December 2014 Mason single family home report

November 2014 Mason single family home report

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

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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 Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

Tons of good advice here that both sellers & buyers in Mason OH can take advantage of.  Of course, it's easier to call Liz & Bill.  Sounds like a diverse community with great opportunities for everyone.

Apr 07, 2015 06:31 AM #1
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Liz & Bill, Thanks for sharing your report with us here in the rain, always interesting to see what is happening in other parts of the country.

Apr 07, 2015 06:34 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)

John, Mason is very diverse.  One of our past clients joked about living on a United Nations street.  They were Indian, and also on the street was Ukranian, Ghanan and Chinese.

Will, It's a high demand community and we have a listing coming soon that we expect to get plenty of activity.

Apr 07, 2015 06:53 AM #3
Rainer
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S. Leanne Paynter ☼ Broward County, FL
United Realty Group, Inc. - Davie, FL
Davie, Plantation, Cooper City & Weston Specialist

Interesting mix of market news.  It's a shame for the luxury home sellers in your area that all that new construction is competing with them.

Apr 07, 2015 07:39 AM #4
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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)

Leanne, It's the hazard of buying upscale in the same price point as much of the new construction.  The builders have figured out that the demand is there for them.

Apr 07, 2015 08:49 AM #5
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Liz and Bill Spear  Great market report for Mason Ohio  I am sure Buyers /sellers  know to call you the local expert when looking to make a move .

Apr 07, 2015 11:38 AM #6
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hi Liz and Bill --- this post and others you have written in the same vein allow prospective sellers to get an idea of how your mind and marketing strategy work.    It's an amazing thing to read the details in your thought process but not as incredible as the results sellers will see firsthand when they choose you for representation.  

Apr 07, 2015 11:42 AM #7
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