It's cold out there but that doesn't stop buyers from buying and sellers from selling in Mason Ohio. 47 homes changed hands in December. The biggest concern? If you're a buyer selection is VERY low with more homes going off market than coming on market.
Stay with us for more details for Mason homes!
Is the activity affecting 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!
We'll cover Mason condos in our Mason Ohio 45040 Condo Market Report December 2016.
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.
Long Cove, home to many of Mason's luxury homes
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:
Next is the Mason median price summary chart.
Mason Single Family Home Category Data Summary:
Homes Sold: 47 (1 Bank/Government Owned, 0 Short Sale, 6 New Construction) UP 19
Average Price: $382,424 UP $76k
Median Price: $322,000 UP $68k
Days on Market Average: 64 UP 42 (median time 25 days)
Homes Active 1/6/17: 121 DOWN 20
Homes Pending 1/6/17: 50 DOWN 14
Average Sales/List %: 95.1% DOWN 1.4%
Most Expensive Home Sold: $1,500,000
Least Expensive Home Sold: $91,000
What are the key takeaways this month?
- There was an abnormal drop in prices for November due to a scarcity of luxury homes, but that was corrected in December with prices climbing back to "normal" levels. Luxury homes ($500k and above) accounted for 12 of the 47 homes sold, and 2 of those 12 sold in excess of $1 million.
- Sales volume was back up, the best December since 2010. With year end you also get a push from builders to finish and transfer ownership before the calendar year ends.
- As usual, not much activity on the low end of the price spectrum, with one home selling below $100,000.
- Days to get under contract increased, but that's normal for the colder months and also a sign of inventory shrinking. Homes that couldn't easily sell before may finally find a buyer.
- The number of homes under contract decreased to 50. While that's down, when you look at the number of sales typical for January, 50 should more than support at least holding the average.
- New construction communities are staying busy and Roberts Park is moving along quickly. There's also a new community coming on Rt 42 called Ambleside Meadows being shared by Drees, Fischer and MI. And it won't be that long before MI Homes opens up Hudson Hills next door to Roberts Park. Need help buying any new construction homes, just give us a call at 513-520-5305.
- 46 of the 121 listed homes not under contract are new construction. Hire an agent to help you since you DO NOT get a better deal without an agent.
- Distressed properties (foreclosures and short sales) remain scarce in Mason! One of the 47 homes sold were distressed, and only 1 of the 121 not under contract are distressed (0 foreclosure and 1 short sales).
So what does this mean to you as a Mason Single family home owner?
While the Mason market is still strong, it's definitely the slower time of the year with not nearly as many homes offered for sale and not as much buyer activity either. However, despite the snow on the ground today it won't be that long before the Spring blitz starts again. NOW is the time to meet and determine what changes need to be made prior to entering the market if you plan to sell in 2017. And we also recommend getting on the market a bit ahead of most of your competition. If you're in the luxury category, expect the sale to take longer as you're competing with plenty of new construction offerings.
Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago, so the more update to date and the more compelling your asking price, the more likely buyers will flock to your door.
For an evaluation of your home's marketability and worth, please contact us 513-520-5305 or Liz@LizSpear.com.
So what does this mean to you as a potential Mason home buyer?
Homes that are in demand are moving quickly so you STILL have competition despite the cold weather. Limited inventory is even more limited this month. Move fast and bid strong or expect to lose out. A weak offer may mean you're going to keep looking even longer. We highly recommend do NOT wait to write that offer or you may lose the chance to own that home.
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!
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz
Recent Mason Market Reports: