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Warren County Ohio Real Estate News and Observations

What's My Mason Ohio Condo Worth? April 2016

What's My Mason Ohio Condo Worth?  April 2016

7609E Mansion Circle Mason OH 45040 condo we listed and sold in July 2012.We're into May and the Mason Ohio condo inventory continues to remain scarce!  New construction condos are for the most part priced $300,000 and up.  More condos are needed on the market at more affordable prices to meet buyer needs. 

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 single family home April market report update 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!

Our listing at 6483 Partridge Way in Hunters Green

Our listing in Villas of Hunters Green, 6483 Partridge Way  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 2010 to present:
Mason Ohio Condominium Market Report
Next is the Mason condo median price summary chart.


Mason Condominium Data Summary:

Condos Sold:  21 (0 Bank/Government Owned, 0 Short Sale, 1 New Construction) UP 4

Average Price:  $157,376 DOWN $3kA Mason Condo in Oakwood Lakes

Median Price:  $134,900 DOWN $22k

Days on Market Average for SOLD:  60 UP 19

Condos Active 5/5/16:  39* UP 1

Condos Pending 5/5/16:  37 DOWN 1

Average Sales/List %:  97.9%  UP .7%

Most Expensive Condo Sold:  $352,365

Least Expensive Condo Sold:  $81,000

 *There are two communities offering new construction condos and not all are listed in Cincinnati MLS so they're NOT included in the stats above and will also not show in the search links below.  If you're interested in new construction ranch condos at approximately $270-400,000 in price or patio homes in the $350-550,000 range, contact us at 513-520-5305 and we'll provide details.

 

So what do the stats indicate about Mason Ohio condo sales? 

Key takeaways this month: 

  • Mason condo inventory continues to be scarce.  39 for sale and 37 under contract so almost 1/2 of all condos for sale are under contract.  And 39??  That's just a low number when spread across all the price points for Mason condos. 
  • Those trying For Sale By Owner and not being found should take advantage of this scarcity and get their homes in front of the MAXIMUM number of buyers.  Hiring a listing agent might very well NET you far more than selling solo.
  • Prices were down slightly, but that's more of a mix issues.  2 condos sold below $100k and 2 above $300k. 
  • 21 completed sales is a solid April when you compare to past Aprils performance since 2010.  With 37 condos under contract, expect another good month in May. 
  • This bears repeating from past months:  there ARE some new construction opportunities not reflected in the 39 condos for sale, but they're going to cost you around $300,000 or more.  Lakeside Cove, Fox Hollow and Beacon Hill offer new construction opportunities if you've got the budget for them.  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 almost nonexistent.  None sold last month and one short sale is currently not under contract and for sale.  Mason condo buyers insisting on buying a distressed property are likely to be VERY disappointed.

 

4261 Eastlake Dr Mason OH 45040  condo soldSo what does this mean to you as a Mason Ohio condo owner?

NO CHANGE:  The low inventory can really work in your favor if you're willing to sell your condo.  While there might not be as many buyers as peak season, the low inventory is forcing more buyers to look NOW rather than waiting for warmer months.  Updated condos will generally sell faster.  Some communities take longer than others to sell as price point and HOA fees/amenities, age of the unit, etc. can have significant influence on demand.  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:  The good condos are selling quickly and selection is VERY, VERY limited.  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).

Search Mason Ohio Condos For Sale Under $150000 

Search Mason Ohio Condos For Sale $150000 to $300000

Search Luxury Mason Ohio Condos For Sale $300,000 And Up

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:

March 2016 Mason Ohio Condo Market Report

February 2016 Mason Ohio Condo Market Report

January 2016 Mason Ohio Condo Market Report

December 2015 Mason Ohio Condo Market Report

November 2015 Mason Ohio Condo Market Report

October 2015 Mason Ohio Condo Market Report

September 2015 Mason Ohio Condo Market Report

August 2015 Mason Ohio Condo Market Report

July 2015 Mason Ohio Condo Market Report

June 2015 Mason Ohio Condo Market Report

May 2015 Mason Ohio Condo Market Report

April 2015 Mason Ohio Condo Market Report

March 2015 Mason Ohio Condo Market Report

February 2015 Mason Condo Market Report

January 2015 Mason Condo Market Report

 

REALTORS(S) Serving Warren County Ohio & Adjacent Areas


The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS

William (Bill) Spear, CRS
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

Search Homes:  Http://WarrenCountyOhioRealEstate.com

Our Website:  www.LizTour.com

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