What's My Mason Ohio Condo Worth? January 2016
We're through the first month of 2016, but for the Mason Ohio condo market there's honestly not much to report! January is traditionally a slow month and this year was no exception, with only 10 completed sales. However, there's something critical to note: Mason condos are in short supply, with only 35 not under contract. And with close to that number under contract, there's indication that MORE Mason condos are needed to satisfy buyer demand!
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 January 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 in Villas of Hunters Green, 6483 Partridge Way UNDER CONTRACT
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:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Sold: 10 (0 Bank/Government Owned, 0 Short Sale) DOWN 4
Average Price: $154,200 UP $23k
Median Price: $148,500 UP $24k
Days on Market Average for SOLD: 35 DOWN 67
Condos Active 2/6/16: 35* DOWN 8
Condos Pending 2/6/16: 28 UP 9
Average Sales/List %: 97.9% UP 1.9%
Most Expensive Condo Sold: $235,000
Least Expensive Condo Sold: $106,000
*There are 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 continues to shrink. 35 condos for sale not under contract, and when you separate out by price ranges there are some potential condo buyers with no matches and hoping something new comes on the market soon!
As usual, a slow month in January for completed sales, but even with only 10, still the second best January since 2010.
- All condos sold in the $100-$250,000 range, a pretty tight span.
- Keep in mind that with only 10 condos sold, it's fairly easy to alter the prices one direction or another for median and average prices so we don't want to put much emphasis on this month's swings.
- This bears repeating from past months: there ARE some new construction opportunities not reflected in the 35 condos for sale, but they're going to cost you around $300,000 or more. Lakeside Cove, Fox Hollow and Beacon Hill offer new construction opportunities if you've got the budget for them. 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. None 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.
So 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 condo. 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 have 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 even MORE 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).
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: