Mason Ohio 45040 Condominium Market Report February 2012
So how did the Mason Ohio real estate market perform in February? Stay with us and you'll have the full story for Mason condos. We covered Mason single family homes in another post. Click Mason Single Family Home Market Report for more information.
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. For instance, for sale by owner homes and new construction may not be listed. Some new construction is included, but homes custom built to buyer requests are NOT included. All data is for the Mason School District area, so is not limited solely to Mason city limits.
With Mason being named #24 on the Money Magazine Top 100 Best Places To Live list for 2011, Mason received recognition that area residents already knew was well deserved! With top notch public schools, extensive entertainment and dining options, and a premier community center combined with superb accessibility to downtown Cincinnati, Mason has become one of the most desired living areas in the region!
Mason offers a full range of price points, with some entry level condos below 100k and luxury/golf course community condos into the $300k price point. 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 2010, 2011 and now starting 2012:
Next is the Mason condo median price summary chart.
Mason Condominium Home Category Data Summary:
Condos Sold: 11 (4 Bank/Government Owned, 0 Short Sales)
Average Price: $144,445
Median Price: $164,000
Days on Market Average: 86
Homes Active 3/7/12: 88
Homes Pending 3/7/12: 20
Sales/List %: 94.6%
Most Expensive Home Sold: $242,500
Least Expensive Home Sold: $72,900
So what is the data telling us? Overall, Mason condo sales are performing VERY well for this time of year. The quantity of homes Sold in February (while down slightly from January) almost matched the combined 2010 & 2011 February sales. The 20 Pending condos is also a strong sign for the coming months. With 88 condos on the market, there's inventory for buyers to choose from, but perhaps not something for every buyer.
The proportion of distressed properties (bank/government owned and short sales) in the market is influencing but not dominating the Mason condo market.
So what does this mean to you as a Mason condo owner? If you've been waiting to sell, it might be time to get a For Sale sign posted! Prices are up, with the median price beating every month in 2011 and the fourth highest overall for 2010 & 2011. Mason is still in high demand. Our condo listings in Mason get plenty of activity, although it may take more than one offer to get an acceptable price. Buyers are still looking for the steal of a deal. Depending on whether dollars or speed is most important to you, we can set a pricing and marketing strategy to bring you success.
For an evaluation of your home's marketability, please contact us.
So what does this mean to you as a potential Mason home buyer? Our advice is the same as for Mason single family residences: THE DATA TELLS US THE BOTTOM HAS BEEN HIT AND PASSED. The longer you wait to purchase a Mason condo the more it's going to cost you. If you're interested in buying a Mason condo, please contact us with your needs and we'll help you find the right Mason community for you! Continuing to wait may force you to either buy less for your dollar, or shift your purchase to another area that gives you more home for your dollar.
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz
REALTORS(S) Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Our Website: www.LizTour.com
OUR SERVICE AREA:
View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map