August was a much better than typical month for Mason Ohio completed sales. Sales prices remained stable (and continue to be better than previous year to year comparisons). New construction is still a significant portion of Mason homes sales and much of that is NOT accounted for in MLS stats since builders often don't report made to order sales in MLS.
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 2019.
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 2013 through present:
Next is the Mason median price summary chart.
Mason Single Family Home Category Data Summary:
Homes Sold: 85 (0 Bank/Government Owned, 0 Short Sale, 8 New Construction) UP 18
Average Price: $404,188 UP $2.5k
Median Price: $370,000 UP $12k
Days on Market Average: 37 DOWN 19 (median time 12 days)
Homes Active 9/15/2019: 189 DOWN 5
Homes Pending 9/15/2019: 84 DOWN 19
Average Sales/List %: 98.8% UP 3.0%
Most Expensive Home Sold: $1,470,000
Least Expensive Home Sold: $48,000
What are the key takeaways this month?
- There was a surprise in August, a significant bump UP in completed sales. 85 is higher than a typical August and is the highest volume for any 2019 month. However, we don't expect this blow the top off kind of numbers to continue into this month based on the decrease is Pending homes. We don't expect a low number for September, but we don't expect it to match August.
- Prices were stable month to month.
- 18 homes sold $500,000 or more and 2 were over $1 million.
- New construction sales accounted for 8 of the 85 sales, however, those are only the ones reported in MLS. There are plenty beyond that 8 that never make it to MLS because they were built to buyer specifications. New construction accounts for 57 of the 189 homes not under contract.
- Time to sell decreased and median time is just under 2 weeks to contract.
- The number of homes for sale decreased slightly as did the number under contract.
New construction communities are staying busy with Kerrisdale, 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) continued to be nonexistent in Mason! None of the 85 homes sold were distressed, and none of the 189 not under contract are distressed.
So what does this mean to you as a Mason single family home owner?
We're holding the same advice from last month: 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?
No reason to 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: