Mason Ohio home sales have kicked off 2020 with a lower than typical total, but better than typical prices. Mason remains one of the top communities to choose in the Greater Cincinnati area.
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 January 2020.
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 Active 2/10/2020: 121 UP 1
Homes Pending 2/10/2020: 72 UP 28
Homes Sold: 23 (0 Bank/Government Owned, 0 Short Sale, 3 New Construction) DOWN 21
Average Price: $457,670 UP $21.5k
Median Price: $400,000 UP $41.5k
Days on Market Average: 88 UP 14 (median time 28 days)
Average Sales/List %: 97.0% UP 0.4%
Most Expensive Home Sold: $1,211,500
Least Expensive Home Sold: 174,900
What are the key takeaways this month?
- The number of homes sold was on the lower side even for a January, but look to the 44 Pending to indicate February should be up to a more typical total.
- Time to sell is slower, but there's some influence at the highest prices where homes are typically taking closer to 7 months to sell rather than the 88 days for the overall market. Median time is 4 weeks, which is slow for Mason.
- Sales prices were up and higher than normal, but keep in mind with lower sales totals these numbers can be more easily moved. 6 of the 23 homes sold for more than $500,000 and 1 of those sold for more than $1,000,000.
- New construction sales accounted for 3 of the 23 sales. These are ONLY the ones reported in MLS. There are other new construction sales that are not entered in MLS. New construction accounts for 46 of the 121 homes not under contract.
New construction communities are staying busy with Kensington, 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 23 homes sold were distressed, and only 1 foreclosure and 1 short sale is available in the 121 homes not under contract.
So what does this mean to you as a Mason single family home owner?
STILL NO REASON TO CHANGE: 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 CHANGE HERE EITHER. The best homes move quickly and 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: