The first glance at the Mason Ohio condo market might startle you, but there's actually no reason for apprehension. There's a good explanation for August's stats, so 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 Ohio Single Family Home Update for August 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!
A condo in Villas of Hunters Green we 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:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Sold: 15 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) DOWN 13
Average Price: $179,660 DOWN $39k
Median Price: $168,000 DOWN $42.5k
Days on Market Average for SOLD: 11 DOWN 7 (Median 4 Days)
Condos Active 9/5/18: 14 UP 2
Condos Pending 9/5/18: 32 UP 10
Average Sales/List %: 99.8% UP 1.2%
Most Expensive Condo Sold: $321,500
Least Expensive Condo Sold: $84,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- At first glance you might want to go Chicken Little and think the Mason condo market is totally collapsing. After all, those are HUGE downward swings in average price, median price and condos sold. That's just pure ugliness, right? Well actually, no. Context is everything in real estate and those price drops can be explained. Two main influences: the number of condos sold dropped radically and the mix of prices sold shifted. The decrease in numbers of condos sold is more than offset by the significant increase in condos under contract. Bottom line, there's not been enough condos to meet buyer demand, so a low volume month like this one allows for easy shifts in price when there are a few less condos sold on the higher end and an unusual number (3) of condos sold for less than $100k. Bottom line, the Mason Ohio condo market is still strong.
- Mason condos are selling even more quickly, shaving a week off time on average to 11 days, and the median time of 4 days stayed the same. Good condos are moving REALLY fast. We've got a buyer watching for the perfect home in one community priced in the low to mid 100s and the two most recent offerings have beaten that 4 day mark for getting under contract.
- 3 condos sold for less than $100,000 and only 1 sold for more than $300,000. Again, this price mix is more accountable for the shift in prices rather than a true devaluation of the Mason condo market.
There ARE some new construction opportunities not reflected in the 15 condos for sale, but they're going to cost you over $300,000 or more. 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 are currently nonexistent. None completed sale and none are in the Active condos for sale.
So what does this mean to you as a Mason Ohio condo owner?
No real change here. The shortage of condos for sale works to the sellers' advantage, especially in the more affordable price ranges and the ranch condos have higher demand. Sub $100k condos that are not updated might take longer to sell.
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?
And no reason to change our advice here either. The good condos are selling quickly and with limited selection you need to look at new entries on the market quickly. 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).
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:
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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