There's one simple takeaway from this month, and it's the same story as recent months: there just aren't enough Mason condos for sale to meet buyer demand. Sales are suppressed and new condos on the market are selling FAST.
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 June 2019 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 2013 to present (shortened from 2010 starting in 2019 to provide more clarity):
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 7
Average Price: $189,053 UP $6k
Median Price: $172,500 UP $6.5k
Days on Market Average for SOLD: 8 DOWN 8 (Median 4 Days)
Condos Active 7/12/19: 7 DOWN 8
Condos Pending 7/12/19: 35 UP 10
Average Sales/List %: 98.3% DOWN 1.3%
Most Expensive Condo Sold: $345,000
Least Expensive Condo Sold: $125,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- As we mentioned at the start, the biggest challenge is the extreme scarcity of condos for sale. SEVEN. That's all that are not under contract. Condos are being snapped up almost as quickly as they come on the market.
- Of the 15 sold, only 2 took more than single digits to be under contract. It's not at all unusual for an affordable condo to go under contract the first 24 hours on market. The median time is 4 days. As a buyer, you need to act FAST to have a chance.
- Next month's sales numbers should be better thanks to the 35 condos under contract.
- The majority of the condos continue to sell in the $100-200,000 range. Only 2 sold for more than $300,000 this month,
Average and median prices both bumped up slightly.
There ARE some new construction opportunities not reflected in the 7 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 to be 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 CHANGE. The continued 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?
NO CHANGE 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: Https://WarrenCountyOhioRealEstate.com
Our Website: www.LizTour.com
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