August shows more signs of Mason Ohio's home sales continuing to supply a strong demand. We are heading for the slower time of year as indicated by increases in time to sell and the decrease in homes under contract. 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 August 2017.
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: 68 (0 Bank/Government Owned, 0 Short Sale, 4 New Construction) UP 15
Average Price: $378,331 UP $42k
Median Price: $350,000 UP $20k
Days on Market Average: 65 UP 33 (median time 22 days)
Homes Active 9/9/17: 185 DOWN 6
Homes Pending 9/9/17: 88 DOWN 22
Average Sales/List %: 97.0% DOWN 1.7%
Most Expensive Home Sold: $855,000
Least Expensive Home Sold: $73,000
What are the key takeaways this month?
- Overall, this is just a normal month. Check out past Augusts and you'll see the 68 sales is typical. And the big price jumps? Just evening out some big dips the month before.
- The number of homes for sale dropped a bit, and considering the number of homes under contract also dropped, you can see the signs that we're definitely heading into the slower part of the year. And the fact that the time to sell slowed too, you can see we're shifting back to a more balanced market.
- More homes for sale are still needed, especially in the lower price points. Homes under $250,000 that are in good condition are still in very high demand.
- 15 of the 68 homes sold were priced above $500,000. That's where the bounce back in prices came from.
New construction communities are staying busy with Roberts Park, Hudson Hills and Ambleside Meadows moving quickly. Need help buying any new construction homes, just give us a call at 513-520-5305. We work for you and NOT the seller and the good news is it doesn't cost extra for us to work for you (and you don't get a price break for going solo).
- 55 of the 185 listed homes not under contract are new construction.
- Distressed properties (foreclosures and short sales) remain scarce in Mason! None of the 68 homes sold were distressed, and only one of the 185 not under contract is distressed.
So what does this mean to you as a Mason Single family home owner?
The market is slowing a bit, but with 68 homes completing sale last month and another 88 under contract, it's obvious plenty of homes are still selling. 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?
NO CHANGE HERE: Homes that are in demand are moving quickly so you have plenty of competition. While the number of homes for sale slightly decreased, 6 homes isn't a huge shift. Move fast and bid strong or expect to lose out on the best homes. 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: