The bottom line, the scarcity of Mason condos for sale got even worse this month. As of today, a total of FIVE condos are not under contract in Mason City School District. Supply has been tight for years, but this is the lowest we've seen yet. Condos are going under contract VERY quickly. If you've got a specific community, style, feature, etc. in mind as a buyer, you need to be patient, and then act VERY quickly.
Skip to the stats review for more details.
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 May 2020 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 2014 to present:
Next is the Mason condo median price summary chart.
Mason Condominium Data Summary:
Condos Active 6/7/20: 5 DOWN 2
Condos Pending 6/7/20: 29 UP 9
Condos Sold: 13 (0 Bank/Government Owned, 0 Short Sale, 0 New Construction) DOWN 2
Average Price: $168,415 DOWN $54k
Median Price: $159,000 DOWN $23k
Days on Market Average for SOLD: 11 UP 5 (Median 5 Days)
Average Sales/List %: 98.6% UP 1.3%
Most Expensive Condo Sold: $265,000
Least Expensive Condo Sold: $127,000
So what do the stats indicate about Mason Ohio condo sales?
Key takeaways this month:
- Here's the main thing: FIVE condos not under contract. 29 condos Under Contract. Basically there's an EXTREME shortage of Mason condos available for buyers. Any Mason condo without any major issues will quickly go under contract. The scarcity of condos for sale means the sales numbers can't keep up with typical volume for the time of year. A quick glance at the sales table makes that VERY clear when you compare to the same month from past years.
- Don't worry about the price changes, that's driven by what is available for sale and NOT the worth of a condo. Also, new construction is wrapping up in Beacon Hill, so not many $400k townhome sales left to boost the average price.
- Time to sell? FAST, VERY FAST. Toss out new construction and you'll find that for most condos you've got a day, maybe two to visit before the home is under contract. You snooze, you loose as a buyer.
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New construction opportunities are shrinking. Beacon Hill just sold their LAST new construction townhome in the community. For the most part if you want a new condo, you're going to have to head outside of Mason. 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 THIS MONTH. 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).
Search Mason Ohio Condos For Sale Under $150000
Search Mason Ohio Condos For Sale $150000 to $300000
Search Luxury Mason Ohio Condos For Sale $300,000 And Up
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:
April 2020 Mason Ohio Condo Market Report
March 2020 Mason Ohio Condo Market Report
February 2020 Mason Ohio Condo Market Report
January 2020 Mason Ohio Condo Market Report
December 2019 Mason Ohio Condo Market Report
November 2019 Mason Ohio Condo Market Report
October 2019 Mason Ohio Condo Market Report
September 2019 Mason Ohio Condo Market Report
August 2019 Mason Ohio Condo Market Report
July 2019 Mason Ohio Condo Market Report
June 2019 Mason Ohio Condo Market Report
May 2019 Mason Ohio Condo Market Report
April 2019 Mason Ohio Condo Market Report
March 2019 Mason Ohio Condo Market Report
February 2019 Mason Ohio Condo Market Report
January 2019 Mason Ohio Condo Market Report
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