January for Mason Ohio homes sales was a month where it pays to understand context, otherwise you might be tempted to head for safety in a bunker! But while it seems like the numbers might be spelling gloom and doom, understanding the context of the numbers provides a lot of comfort. 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 January 2018.
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: 27 (2 Bank/Government Owned, 0 Short Sale, 2 New Construction) DOWN 6
Average Price: $289,716 DOWN $192k
Median Price: $270,000 DOWN $159k
Days on Market Average: 58 DOWN 35 (median time 21 days)
Homes Active 2/12/18: 146 UP 17
Homes Pending 2/12/18: 58 UP 6
Average Sales/List %: 97.1% UP 2.3%
Most Expensive Home Sold: $650,000
Least Expensive Home Sold: $52,250
What are the key takeaways this month?
- At first glance you've got to think someone pulled the rug out from under the Mason home market. DOWN 192k???? 159k?? But WAIT!!! No reason to panic, it's easily explained. First, December was an exceptionally high month for sales due to 4 sales over a million. January? We caught the "worst" of the situations. 2 foreclosures sold for less than $100,000 each. Factor in only 27 sales and then add in the fact that ONLY 4 homes sold for more than $500,000 (vs. 10 in December) and you've got a recipe for "low" prices. Compare to past Januarys and you'll see the sales prices were similar to past years.
- The overall number of sales completed was also similar to past Januarys.
- Time to sell decreased. Not summertime crazy short, but not bad.
- The Spring "let's get on the market" seems to be starting early, wiht an increase in homes for sale and under contract.
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).
- 48 of the 146 listed homes not under contract are new construction.
- Distressed properties (foreclosures and short sales) remain scarce in Mason! Two of the 27 homes sold were distressed, and only 2 of the 146 not under contract are distressed.
So what does this mean to you as a Mason Single family home owner?
The market is still in the slower months of winter chill, but Spring is coming. The highest demand will still be in the affordable price ranges. If you're in the luxury category, be aware of the extensive competition of luxury builders in Mason. Be competitive and expect to need longer to sell unless you can provide a compelling reason to buy YOUR home over building new.
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: The best homes still move quickly, just not as quickly as the summer months. And decreased inventory limits buyer choice. Some of the homes on the market have notable problems (busy roads, etc.) that will make them unsuitable for most buyers. 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: