Mason Ohio's condo market continued as expected this month. It's heading into the colder months, so fewer condos are sold and fewer are under contract. Overall, inventory is still tight and condos are selling very quickly if properly presented and priced for the location and condition. 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 October just click the link for the details.
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: 18 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) DOWN 7
Average Price: $170,186 DOWN $30k
Median Price: $148,500 DOWN $19.5k
Days on Market Average for SOLD: 6 DOWN 10 (Median 3 Days)
Condos Active 11/10/18: 21 UP 8
Condos Pending 11/10/18: 13 DOWN 7
Average Sales/List %: 98.9% UP .9%
Most Expensive Condo Sold: $271,000
Least Expensive Condo Sold: $106,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Completed sales were in the typical range for an October. That's not summer peak numbers, but 18 completed sales is still good for the time of year.
- Unexpected was the sudden increase in condos for sale. 21 still isn't a huge number, and still doesn't meet all buyer needs. We've got buyers with specific needs in Oakwood Lakes and Waters Edge The Sanctuary, but no matches that meet their needs.
- Mason condos are selling quickly, with less than a week on average from market to sold for those condos under contract.
- No condos sold for less than $100,000 and only 7 sold for more than $200,000. None sold for more than $300,000, thus the drop in average and median prices.
There ARE some new construction opportunities not reflected in the 21 condos for sale, but they're going to cost you over $300,000 or more. Fox Hollow and Beacon Hill offer new construction opportunities if you've got the budget for them. 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 completed sale and none are in the Active condos for sale.
So what does this mean to you as a Mason Ohio condo owner?
No significant change this month either. The continued shortage of condos for sale works to the sellers' advantage, especially in the more affordable price ranges and the ranch condos have higher demand. 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?
And no reason to change our advice here either. The good condos are selling quickly and with limited selection you need to look at new entries on the market quickly. 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: