The Channel you have requested is no longer available.

Warren County Ohio Real Estate News and Observations

Mason Ohio Luxury Homes: How Much Can I Take Off The Price?

Long Cove of Mason OhioMason Ohio Luxury Homes:  How Much Can I Take Off The Price?

How much is it going to take to buy that Mason Ohio luxury home?  The answer is of course:  IT DEPENDS!  But we can use past performance to give you an indication of what is LIKELY to be the case.

All data is derived from Cincinnati MLS recorded sales, so custom builds or For Sale By Owner homes won't be included.

We reviewed the time period of June 2014 to May 2015, and in that year 87 homes sold for $500,000 or above.  $500,000 is the local price used to define "luxury".  All homes were located in Mason City School district.

There are of course variables related to motivation:

  • Has the owner already moved?
  • Are they building another home that is almost completed?
  • Is the home being bought by corporate relocation?
  • Are the owners in financial trouble?
  • Divorce?
  • Is the builder just starting the home or is it finished?

A total of 87 homes sold for $500,000 or greater since June 1, 2014.  Of those, 68 were consumer owned, 14 were new construction, 4 were corporate owned (relocation company) and 1 was bank owned.  As you can see, foreclosed homes in the Mason are practically nonexistent.  Short sales are scarce also, with only 1 of the 87 homes sold in that category.

There are a limited number of subdivisions in Mason that can support the values needed for a sale above $500,000 and fewer still when you double that number.  Long Cove & Heritage Club are your primary communities for million dollar homes, with Chestnut Hill in the tier just below that.

Mason Ohio luxury sales by communitySo back to the question at hand, how much can you expect to take off the price of a Mason luxury home?

We're going to exclude the lender, corporate and builder homes.  Fact is with builder homes you're often not taking money off, but ADDING money to asking price as you add the options you want.

Consumer owned homes are the majority (68) of the 87 luxury homes sold.  The chart below details the number of homes sold and the bottom numbers list the percentage off list price for the final sale price.

Mason Ohio Luxury Home SalesA few key takeaways:

  • The average discount from asking price at time of sale was just under 6%.
  • The median (half over/half under) percentage discount was 5%.
  • There are a smaller number of homes sold giving discounts in the double digits.

What do the last year's worth of luxury sales indicate?  That you can expect some dollars off, but most likely 5-6% OR LESS will be the amount of discount you can expect.

Stop and think about it from a seller's perspective.  If they REALLY were okay with taking $100,000 less than their asking price, would they be at their current asking price?  No, if they were motivated to sell and not just testing the market for highest dollar, they'd move their price closer to what the buyers will be willing to pay.

If you're a Mason home owner and would like to know what is your Mason Ohio home's worth just click the link.

If you're a potential Mason luxury home buyer, just click the link below to get started.

Search for Mason Ohio Homes For Sale $600,000 and higher

Any questions?  Ready to start?  Just contact us at 513-520-5305 or email Liz@LizSpear.com.  And yes, we help buyers with new construction also!

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!

EHO Two locations: Lebanon & Mason, OH
Direct:  513-520-5305
Direct #2: 513-265-3004     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

 FacebooktwitterWordpressYouTube Pinterest

 

 

 

 

 

 

OUR SERVICE AREA:


View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map

Comment balloon 2 commentsLiz and Bill Spear • May 27 2015 06:35AM
Mason Ohio Luxury Homes: How Much Can I Take Off The Price?
share
Mason Ohio Luxury Homes: How Much Can I Take Off The Price? How much is it going to take to buy that Mason Ohio luxury home? The answer is of course: IT DEPENDS! But we can use past performance to give you an indication of what is LIKELY to be… more
Sellers Flipping Buyers The Bird Doesn't Lead To A Sale
share
Sellers Flipping Buyers The Bird Doesn't Lead To A Sale I get it. You didn't like the offer. Your house is something special and worth EVERY penny you're asking and probably a whole lot more, right? And yet… you're still on the market for… more
Under Contract in 4 Days: Franklin Township Ohio Home For Sale 7713…
share
Under Contract in 4 Days: Franklin Township Ohio Home For Sale 7713 Anne Dr 3 BR 1. 5 BA 5 Acre We introduced this home to the market on Tuesday and the showings quickly followed, and in just a couple of days and offer that worked for our sellers… more
Should I Write A Backup Offer On That Home?
share
Should I Write A Backup Offer On That Home? A home that checks all the boxes on your list is on the market at a price that works for you. Maybe it's brand new to the market or the sellers FINALLY reduced to a price that fits your budget, but it… more
Mason Ranch Condo For Sale In Villas of Hunters Green
share
Mason Ranch Condo For Sale In Villas of Hunters Green Just a few hours old in Cincinnati and Dayton MLS, we think you're going to love this fresh on the market attached ranch condo in Villas of Hunters Green! There's a lot to love about this… more
Kings Island Salutes The Military With Free Admission Memorial Day…
share
Kings Island Salutes The Military With Free Admission Memorial Day Weekend! It's your Warren County Ohio RE/MAX team Liz and Bill Spear with another area event to add to your Memorial Day weekend event list! Now we just MIGHT be a little biased… more
Memorial Day Weekend Events: Taste of Cincinnati May 23 - 25 2015
share
Memorial Day Weekend Events: Taste of Cincinnati May 23 - 25 2015 It's just a handful of days until Cincinnati's big enchilada of food events for Memorial Day Weekend: Taste of Cincinnati! Taste of Cincinnati is THE longest running culinary… more
Coming Soon: Franklin Township Ohio Home For Sale 7713 Anne Dr 3 BR 1…
share
Coming Soon: Franklin Township Ohio Home For Sale 7713 Anne Dr 3 BR 1. 5 BA 5 Acre $99, 000 Get ready, another Liz Spear Team of RE/MAX Elite home for sale will be in Dayton and Cincinnati MLS Tuesday May 19th! Key features of this home: 3… more
A Real Feel Good Story, You Can't Keep A Good Man Down!
share
A Real Feel Good Story, You Can't Keep A Good Man Down! Once upon a time two kids, one from Ohio (Jeffrey) and one from Louisiana (Bill) raised their right hands on a hot July day in 1981 and swore an oath to defend this country. They didn't know… more
Lebanon Ohio Farmers' Market Open For 2015 Season
share
Lebanon Ohio Farmers' Market Open For 2015 Season The Lebanon Farmers' Market kicked off the 2015 season today! They'll be open every Thursday 3-7 p. m. through October 15th (and maybe a little longer if the weather supports it! ). The Lebanon… more