Spring is here and April homes sales in Mason were strong. The highest April total since 2010 and also the highest April median price since 2010. We're fast coming up on the end of the school year and that almost always means a rapid increase in market activity. 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 April 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: 53 (2 Bank/Government Owned, 0 Short Sale, 6 New Construction) UP 13
Average Price: $430,539 UP $45k
Median Price: $352,500 SAME
Days on Market Average: 71 DOWN 14 (median time 12 days)
Homes Active 5/9/18: 194 UP 4
Homes Pending 5/9/18: 129 UP 39
Average Sales/List %: 97.7% UP 1.4%
Most Expensive Home Sold: $1,400,000
Least Expensive Home Sold: $80,000
What are the key takeaways this month?
- Key stats to note: April's sales total was the highest April since 2010. The median price for April is also the highest April since 2010. Time to sell is shortening too, so overall, a great month!
- What's still needed? More choice for buyers. While 194 homes for sale might sound like a lot, there are some concentrations at certain price points that are beyond what many can afford. And a healthy chunk of the 194 homes are new construction (42 homes), and depending on a buyer's timeline they may not be possible. Well that and new construction is almost all above a minimum of $400,000.
- The 129 homes under contract tells you homes are selling and we should see a good total for May sales.
- 14 homes sold for more than $500,000, and that includes 2 for over a million. That heavy mix of luxury homes explains the monthly push upwards for average sales price.
- Time to sell is under 2 weeks for half the homes that went 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).
- Distressed properties (foreclosures and short sales) remain scarce in Mason! 2 of the 53 homes sold were distressed, and only 1 of the 194 not under contract is distressed.
So what does this mean to you as a Mason single family home owner?
No reason to change last month's observations: It depends on your price point. The affordable homes will still move quickly. The more expensive homes are competing with new construction so you have to make the deal appealing enough for buyers to skip building new to order. We are coming into the busier time of the year for home sales, so get ready now and beat the competition to the market.
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 either. The best homes move quickly. Even with the increase in homes for sale, there are some segments of the market lacking choice. Of the homes on the market, some 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: