The Mason real estate market could still use more choice for buyers. Prices are stable, time to sell is relatively short, but there's definitely a scarcity of affordable homes for buyers to choose from. 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 June 2018.
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: 79 (0 Bank/Government Owned, 0 Short Sale, 7 New Construction) UP 33
Average Price: $435,739 UP $37.5k
Median Price: $391,000 DOWN $1.5k
Days on Market Average: 53 UP 9 (median time 13 days)
Homes Active 7/5/18: 222 UP 13
Homes Pending 7/5/18: 97 DOWN 9
Average Sales/List %: 97.9% UP .2%
Most Expensive Home Sold: $1,395,000
Least Expensive Home Sold: $85,000
What are the key takeaways this month?
- More of less a typical June for completed sales. Not the highest month, not the lowest month. For the most part not a lot of radical changes from May to June. Median price, homes for sale and pending in the same range, as was the sales to list price.
- Time to sell is increased on average, but still half of all homes under contract happened in less than 2 weeks on the market.
- Broken record time: What's still needed (repeated from last month): more choice for buyers. Homes for sale did increase slightly, but here's the catch. Depending on your definition of affordable housing, Mason IS NOT the place to home shop. Homes priced under $300,000 are less and less common. Bottom line, if you want Mason, you better have a good sized budget. And new construction? For the most part anything below $400,000 is a unicorn, better have closer to half a million or more unless you're building a townhome in Beacon Hill or something similar.
- 22 homes sold for more than $500,000, and that includes 1 for over a million.
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).
- Distressed properties (foreclosures and short sales) remain almost nonexistent in Mason! None of the 79 homes sold were distressed, and only 1 of the 222 not under contract is distressed.
So what does this mean to you as a Mason single family home owner?
No reason to change last month's observations: It depends on your price point. The affordable homes will still move quickly. The more expensive homes are competing with new construction so you have to make the deal appealing enough for buyers to skip building new to order. We actually seem to be slowing a bit as the summer progresses.
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 either. The best homes move quickly. Even with the increase in homes for sale, there are some segments of the market lacking choice. Of the homes on the market, some 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
OUR SERVICE AREA:
View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map