Mason Ohio home sales had a great month, with better than typical quantity sold and still a great number under contract. Prices are still good and time to sell is quick. 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 October 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: 58 (0 Bank/Government Owned, 0 Short Sale, 7 New Construction) UP 4
Average Price: $346,662 DOWN $30k
Median Price: $327,000 UP $4.5k
Days on Market Average: 51 UP 11 (median time 10 days)
Homes Active 11/10/18: 221 DOWN 9
Homes Pending 11/10/18: 76 DOWN 1
Average Sales/List %: 97.4% UP 1.8%
Most Expensive Home Sold: $1,150,000
Least Expensive Home Sold: $115,000
What are the key takeaways this month?
- For an October, a VERY good month for completed sales. 2018 matched the highest October sales quantity since 2010. New construction accounted for 7 of the 58 home sales.
- While the average price dropped, that's a monthly mix issue. September had TWO million dollar homes sell, October only had one. And luxury sales were still a bit low, with only 9 homes selling for $500,000 or more. Note the median price went up a bit, so basically the "typical" Mason home didn't lose any value.
- Median time to sell dropped to 10 days, but some houses are taking quite a bit longer, thus the 51 day average time from market introduction to accepted contract.
- There is SOME room for negotiation on price in most cases for resale homes.
- The number of homes under contract only decreased by 1, so expect November sales quantities to be close to October's total.
- No change on the affordable housing front, it's still scarce and if you want new construction expect to pay close to $500,000 (or more).
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 almost nonexistent in Mason! None of the 58 homes sold were distressed, and none of the 221 not under contract are distressed.
So what does this mean to you as a Mason single family home owner?
Still 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. There is an abundance of homes for sale priced $400k and up.
Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago, so the more up 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?
Still 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: