September continued the strong performance for Mason sales. Total sales and prices were both very good. And as we might expect for the time of year, the number of homes for sale decreased and the number of homes under contract also decreased. However, there are still plenty of homes left to be sold in 2019!
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 September 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: 60 (0 Bank/Government Owned, 0 Short Sale, 11 New Construction) DOWN 25
Average Price: $467,462 UP $63k
Median Price: $374,450 UP $4.5k
Days on Market Average: 80 UP 43 (median time 18 days)
Homes Active 10/11/2019: 166 DOWN 23
Homes Pending 10/11/2019: 81 DOWN 3
Average Sales/List %: 96.8% DOWN 2.0%
Most Expensive Home Sold: $1,365,000
Least Expensive Home Sold: $170,000
What are the key takeaways this month?
- First, don't worry about the month to month drop in home sales. August was unusually high for the time of year and if you look at past Septembers you'll see 60 is an excellent number.
- The one number that needs some extra explanation is the big increase in time to sell. Simply put, there's a big skew up because of the increased number of new constructions entered as Sold. New construction often goes into MLS at the beginning of the build process, and luxury homes take longer than typical to build. The longest reported time was 579 days and 5 new construction homes were 1 year or more in time to sell. Obviously that drives the average time up significantly. A better number to indicate time to sell is the median time of 18 days. So over half of the 60 homes sold in September were under 3 weeks from market introduction to accepted contract.
- It was a good month for high end sales, with FIVE homes selling for more than 1 million dollars. A total of 17 sold for at least $500,000. Those sales helped bump up the average and median prices.
- The number of homes for sale dropped, as did the number under contract. This is to be expected for the time of year..
- New construction sales accounted for 11 of the 60 sales, however, those are only the ones reported in MLS. There are plenty beyond that 11 that never make it to MLS because they were built to buyer specifications. New construction accounts for 52 of the 166 homes not 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 very scarce in Mason! None of the 60 homes sold were distressed, and only 1 foreclosure is available in the 166 homes not under contract.
So what does this mean to you as a Mason single family home owner?
No reason to change 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: