2020 has started and Mason Ohio condos starts the year with the same issue as 2019: a severe shortage of condos for sale. Since so few are on the market, they sell quickly and for good prices. Ignore the time of year, you'd better move fast when a condo is fresh on the market. Skip to the stats review for more details.
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 December 2019 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 2014 to present:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Active 2/9/20: 6 DOWN 1
Condos Pending 2/9/20: 22 SAME
Condos Sold: 18 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) UP 1
Average Price: $215,022 FLAT (down $2.00)
Median Price: $213,250 UP $3.5k
Days on Market Average for SOLD: 36/15* UP 5 (Median 7 Days)
Average Sales/List %: 98.3% DOWN .2%
Most Expensive Condo Sold: $367,500
Least Expensive Condo Sold: $121,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- First, the * besides days on market? One home needed 390 days, well outside the norm. Take that home out and the average days on market drops from 36 days to 15 days, a VERY significant difference. The median time doesn't move either way, 7 days, and it's not uncommon at all to have a condo under contract in 1-3 days.
- The number of condos not under contract is even LOWER than it has been. Literally a half dozen condos not under contract.
The number of homes under contract remained the same, so expect another good total for February sales.
The majority of the condos continue to sell in the $100-200,000 range, with only 2 of the 18 selling for more than $300,000.
There ARE some new construction opportunities not reflected in the 6 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. However, both are in final phase. 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 continue to be 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 CHANGE THIS MONTH. 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?
NO CHANGE 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: