October might feel like someone pulled the rug out from under the Mason Ohio's real estate market, but first glance might not tell the whole story. 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 October 2017.
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: 37 (0 Bank/Government Owned, 0 Short Sale, 1 New Construction) DOWN 23
Average Price: $339,756 DOWN $22k
Median Price: $322,250 UP $3k
Days on Market Average: 53 DOWN 1 (median time 24 days)
Homes Active 11/8/17: 168 DOWN 9
Homes Pending 11/8/17: 80 UP 10
Average Sales/List %: 96.9% DOWN .9%
Most Expensive Home Sold: $943,000
Least Expensive Home Sold: $112,900
What are the key takeaways this month?
- It really looked like the market took a hit didn't it? After all, total homes sold dropped hard, but that was also in comparison to an exceptionally strong September. 37 completed sales still isn't as good as most recent Octobers of years past, but that bump up to 80 Pending tells you buyers are still buying.
- Another strong sign? While average prices did drop, median prices were stable. That's a good indicator that the overall Mason market is still strong, we just had fewer REALLY expensive homes sell this month. In fact, only 5 completed sales above $500,000 (down from 10 in September and 18 the month before that), so the luxury home market lagged last month.
- The number of homes for sale dropped again, but that's expected this time of year. The holidays are coming and casual home sellers don't want the hassle. The "I've got to sell" sellers will keep on going though.
New construction communities are staying busy with Roberts Park, 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).
- 51 of the 168 listed homes not under contract are new construction.
- Distressed properties (foreclosures and short sales) remain scarce in Mason! None of the 37 homes sold were distressed, and only 2 of the 168 not under contract is distressed.
So what does this mean to you as a Mason Single family home owner?
The market is still slowing as expected for this time of year. If you're in the luxury category, expect the sale to take longer as you're competing with plenty of new construction offerings.
Keep in mind, buyers still aren't keen on homes that show their age or feature decor from 20+ years ago, so the more update 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: Homes that are in demand are moving quickly so you have plenty of competition. The number of homes for sale slightly decreased again and will probably continue to decrease. And some of the homes on the market 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!
Serving Mason's home buyers and sellers,
Liz and Bill aka BLiz
Recent Mason Market Reports:
Serving Warren County Ohio & Adjacent Areas
The Liz Spear Team of RE/MAX Elite
Elizabeth Spear, ABR, CRS, Ohio License SAL.2002007747
William (Bill) Spear, CRS, Ohio License SAL.2004011109 Kentucky 77938
Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Bill Direct: 513-520-5305
Liz Direct: 513-265-3004
Search Homes: Http://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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