What's My Mason Ohio Home Worth? April 2016 Update
Another month gone by and the trend is the same, there's a shortage of homes for sale in Mason and the result is that homes are being QUICKLY places under contract! In April, over half of all Mason homes for sale were under contract in 6 days or less! And if priced below $300,000 and in great condition...don't blink or you'll miss them.
Stay with us for more details!
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 April 2016. (come back tomorrow for this one)
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 2010 through present:
Next is the Mason median price summary chart.
Mason Single Family Home Category Data Summary:
Homes Sold: 44 (1 Bank/Government Owned, 0 Short Sale) UP 2
Average Price: $344,873 UP $25k
Median Price: $323,475 DOWN $1k
Days on Market Average: 60 DOWN 20 (median time 6 days)
Homes Active 5/5/16: 163 DOWN 6
Homes Pending 5/5/16: 122 UP 35
Average Sales/List %: 97.8% UP .7%
Most Expensive Home Sold: $955,000
Least Expensive Home Sold: $77,000
What are the key takeaways this month?
- From a sales quantity standpoint, a typical April. Every April since 2010 has been in the 40s for sales.
- Average price bumped up, partly thanks to 8 homes selling above $500,000 and only 1 sale below $100,000.
- New construction is at full steam, and Roberts Park is adding to completed sales, with 3 of the 4 reported in MLS new construction sales closed in April. 29 of the 163 listed homes not under contract are new construction. Be prepared to pay at least $500,000 if you want a new build in Mason. And hire an agent to help you since you DO NOT get a better deal without an agent.
- Homes under contract increased to 122, a jump of 35 over the previous month. We're not that far from having half of all homes on the market under contract.
- Buyer demand is still high. Buyers are VERY anxious for new homes on the market, especially in the more affordable price bands. Half of the 44 homes sold last month went under contract in less than a week!
- Distressed properties (foreclosures and short sales) remain scarce in Mason! One of the 44 homes sold were distressed, and only 3 of the 169 not under contract are distressed.
So what does this mean to you as a Mason Single family home owner?
NO CHANGE FROM LAST MONTH: As a seller in the sub-$400,000 range the advantage is FULLY in your court. Above that and you're going head to head with ample new construction. Below that price point, homes that are updated and with no notable negatives like busy roads or power lines are in high demand. Buyers are anxious for new homes on the market, so put supply and demand to work for you!
Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago.
For an evaluation of your home's marketability and worth, please contact us 513-520-5305 or Liz@LizSpear.com. And of course your personal circumstances will have impact. We'll give you the best best advice, whether to start now, or delay until the market better suits your needs.
So what does this mean to you as a potential Mason home buyer?
NO CHANGE FROM LAST MONTH:
YOU ARE IN A COMPETITIVE MARKET!!!! Limited inventory and plenty of buyers after the same homes. Move fast and bid strong or expect to lose out. 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. We're also seeing some new highs being established as competition drives up prices. In some case, FULL asking price isn't enough to get it done.
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:
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!
Two locations: Lebanon & Mason, OH
Direct #2: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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