What's My Mason Ohio Condo Worth? December 2015

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

What's My Mason Ohio Condo Worth?  December 2015

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.2015 is a wrap and we've got the final 2015 market report ready for Mason Ohio condos!  Condo inventory is still scarce and overall sales down a bit as is typical for this time of year.

Stay with us for the whats, whys and hows of the Mason condo market!  And a bonus at the end, easy to use Search For Mason Ohio Condos For Sale links!  And if you want to know How Much Is My Mason Condo Worth?, just click the link, fill out the form and we'll be in touch soon!

If you're interested in the Mason single family home December market report update just click the link for the details.

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 #17 on the Money Magazine Top 50 Best Small Town Places To Live list for 2015 (and #7 in 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 and even $400k price point.  So whether you want an economy condo, or the luxury version, we can help you find the right Mason condo for you!

Our listing at 6483 Partridge Way in Hunters Green

Our listing in Villas of Hunters Green, 6483 Partridge Way

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 Condo Home Market Report
Mason Condominium Data Summary:

Condos Sold:  14 (0 Bank/Government Owned, 1 Short Sale) DOWN 5

Average Price:  $131,493 DOWN $41kA Mason Condo in Oakwood Lakes

Median Price:  $124,700 DOWN $45k

Days on Market Average for SOLD:  102 UP 53

Condos Active 1/7/16:  43* UP 1

Condos Pending 1/7/16:  19 DOWN 3

Average Sales/List %:  96.0%  UP .8%

Most Expensive Condo Sold:  $217,500

Least Expensive Condo Sold:  $67,000

 *There are some two communities offering new construction condos and not all are listed in Cincinnati MLS 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 or patio homes in the $350-550,000 range, 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: 

  • Mason condo inventory is still VERY low with only 43 condos for sale and not under contract.  When you factor in specific needs as a buyer, you might be down to just a handful of potential condos that match your needs.  
  • Two condos sold for less than $100,000 and only 2 above $200k.  With that low emphasis on the above $200k point, average and median prices fell significantly.  However, that doesn't mean a true drop in Mason condos values so much as a month with a mix of lower priced condos being sold.  Keep in mind that with only 14 condos sold, it's fairly easy to alter the prices one direction or another.
  • This bears repeating from past months:  there ARE some new construction opportunities not reflected in the 43 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 is close to final builds.  Fox Hollow is adding patio homes, but they're going to cost you (high $300s and into the $500s).  Immediately adjacent to Mason are some other new construction condos if being directly in Mason isn't a concern.  Contact us for details Liz@LizSpear.com or 513-520-5305.  Patio homes and condos are a specialty of ours.
  • Distressed condos (foreclosures and short sales) for sale continue to be almost nonexistent.  One short sale sold last month and one short sale and one foreclosure are currently not under contract and for sale.  Mason condo buyers insisting on buying a distressed property are likely to be VERY disappointed.

 

4261 Eastlake Dr Mason OH 45040  condo soldSo what does this mean to you as a Mason Ohio condo owner?

No change to last month's advice:  The low inventory can really work in your favor if you're willing to sell your home.  While there might not be as many buyers as peak season, the low inventory is forcing more buyers to look NOW rather than waiting for warmer months.  Updated condos will generally sell faster.  Some communities take longer than others to sell as price point and HOA fees/amenities, age of the unit, etc. can have significant influence on demand.  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? 

NO CHANGE TO LAST MONTH'S ADVICE:  The conditions affecting your purchase haven't shifted since last month.  Selection is still 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're not cheap either).  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.  The same applies for VA financing.

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:

November 2015 Mason Ohio Condo Market Report

October 2015 Mason Ohio Condo Market Report

September 2015 Mason Ohio Condo Market Report

August 2015 Mason Ohio Condo Market Report

July 2015 Mason Ohio Condo Market Report

June 2015 Mason Ohio Condo Market Report

May 2015 Mason Ohio Condo Market Report

April 2015 Mason Ohio Condo Market Report

March 2015 Mason Ohio Condo Market Report

February 2015 Mason Condo Market Report

January 2015 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

Our Website:  www.LizTour.com

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Rainmaker
2,309,608
Anita Clark
ColdwellBanker SSK Realtors ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

BLiz: Plenty of quality information for both real estate buyers and sellers in the Mason Ohio condo market. You make it very easy for consumers to get a current snapshot of this market and all it has to offer.

Jan 08, 2016 06:18 AM #1
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Great explaination of how a couple of low sales can bring down the average or median price and not really have lost value.

Jan 08, 2016 06:57 AM #2
Rainmaker
1,675,413
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Liz and Bill Spear ,  I am just amazed at the information you have in your market reports.  I'm sure that you will be the first stop for anyone looking for a Condo in Mason, OH

Jan 08, 2016 11:37 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)

Anita, We want this to be a comprehensive information post for buyers and sellers each month.  Capture the latest trends, request a valuation, search condos for sale, etc.

Tammy, As the numbers of sales decrease, it's very easy to have one or two outliers influence the overall impression of the market.

Larry, We like to fully understand what is happening in our local market.

Jan 10, 2016 12:54 AM #4
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