Mason Ohio condo sales continued in April much as they did in March. Solid numbers sold and under contract, but the biggest concern we have is with the shrinking condo inventory. With only 20 for sale and not under contract as of 5/5/17, that's not many condos to meet buyer needs. And that also helps explain why good condos are selling so quickly!
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 Ohio Single Family Home Update for April just click the link for the details. (after Monday evening)
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.
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!
A condo in Villas of Hunters Green we sold!
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: 22 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) SAME
Average Price: $172,514 UP $22k
Median Price: $175,000 UP $24.5k
Days on Market Average for SOLD: 17 UP 2 (Median 4 Days)
Condos Active 5/5/17: 20* DOWN 5
Condos Pending 5/5/17: 30 UP 3
Average Sales/List %: 97.0% DOWN 1.5%
Most Expensive Condo Sold: $310,000
Least Expensive Condo Sold: $90,000
*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:
- Another good month for Mason condo sales! 22 completed sales and another 30 under contract! May sales should match April's totals and perhap even best 22.
- However, our one single biggest concern? It's the number 20. That's not nearly enough Mason condos for sale to meet buyer needs.
- 2 condos sold below $100k and 5 above $200k.
- Time to sell is still VERY fast, with half under contract in 4 days or less. The average was 17 days.
- This bears repeating from past months: there ARE some new construction opportunities not reflected in the 20 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. Fyi, Lakeside Cove is almost completed. 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 are currently nonexistent. None have sold in several months and none are currently for sale.
So what does this mean to you as a Mason Ohio condo owner?
NO CHANGE FROM THE PAST FEW MONTHS. Bottom line: SELLERS HAVE THE EDGE!! With almost no condos for sale the good ones are being snapped up quickly and for very little discount off asking price. Especially in the $225k and below price range. Sub $100k condos that are not updated might take longer to sell.
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?
ALSO NO CHANGE HERE EITHER: The good condos are selling quickly and selection is VERY, VERY limited. 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: