Bottom line, coronavirus has delayed the real estate market by approximately 1 month, but there is plenty of evidence that Mason Ohio is rapidly returning to peak activity as it usually does this time of year. The best homes are under contract in under a week.
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 May 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 6/7/2020: 124 DOWN 5
Homes Pending 6/7/2020: 116 UP 27
Homes Sold: 52 (0 Bank/Government Owned, 0 Short Sale, 4 New Construction) UP 4
Average Price: $427,354 UP $13k
Median Price: $382,000 DOWN $18k
Days on Market Average: 51 DOWN 9 (median time 5 days)
Average Sales/List %: 96.8% DOWN 1.2%
Most Expensive Home Sold: $1,500,000
Least Expensive Home Sold: $155,000
What are the key takeaways this month?
- If you look at the Quantity chart you'll see Homes Sold is about 1 month behind normal. If we were talking about April numbers, we'd be right on target, but since we're talking about May results, we're certainly below expected. Bottom line, coronavirus impact has been a delay in market activity, but not a stoppage. Check the 116 homes under contract and you know we're still busy in Mason. Things ARE returning to normal.
- Time to sell is dropped slightly on average and just under a week for median time to contract.
- Sales prices increased slightly on average and dropped for median prices. 15 of the 52 homes sold for more than $500,000 and 2 of those 15 sold for more than $1 million.
- New construction sales accounted for 4 of the 52 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 43 of the 124 homes not under contract.
New construction communities are staying busy with Kensington, Kerrisdale, 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 52 homes sold were distressed, and only 1 foreclosure and no short sale is available in the 124 homes not under contract.
So what does this mean to you as a Mason single family home owner?
STILL NO REASON TO CHANGE: Corona does NOT seem to be having a huge impact on Mason home sales, just putting a slight slowdown on the market.
Just as prior, ability to sell 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!
Search for Mason Ohio Homes For Sale Under $200,000
Search for Mason Ohio Homes For Sale $200,000 to $400,000
Search for Mason Ohio Homes For Sale $400,000 to $600,000
Search for Mason Ohio Homes For Sale $600,000 and higher
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz
Recent Mason Market Reports:
April 2020 Mason Ohio single family home report
March 2020 Mason Ohio single family home report
February 2020 Mason Ohio single family home report
January 2020 Mason Ohio single family home report
December 2019 Mason Ohio single family home report
November 2019 Mason Ohio single family home report
October 2019 Mason Ohio single family home report
September 2019 Mason Ohio single family home report
August 2019 Mason Ohio single family home report
July 2019 Mason Ohio single family home report
June 2019 Mason Ohio single family home report
May 2019 Mason Ohio single family home report
April 2019 Mason Ohio single family home report
March 2019 Mason Ohio single family home report
February 2019 Mason Ohio single family home report
January 2019 Mason Ohio single family home report
Subscribe to CommentsComment