Has The Mason Ohio Real Estate Market Recovered?

By
Real Estate Agent with RE/MAX Elite 513.265.3004 www.LizTour.com SAL.2002007747
http://actvra.in/jrW

Mason Community CenterHas The Mason Ohio Real Estate Market Recovered?

Baah Humbug!  It's horrible!! It's TERRRRIBLLE out there!  Are you CRAZY to sell your home right now??  WAIT!!  It'll be better later!!

You've been hearing it from the press.  You've been hearing it everywhere!  Your friends, your co-workers....all those folks that don't have access to the stats and who run off of hearsay!

But here's the real deal for the Mason real estate market, no spin, just PURE numbers with ZERO manipulation for the Mason Ohio School District straight from the Cincinnati MLS! 

The first table is a year to year comparison, basic information as to how many homes sold, what the average price was, median price, and average days on market.  We used 2005 as a baseline because it's well before things swept downwards in 2008/9.

 

Mason Ohio Real estate market report

So what does the year to year data comparison show us?  Overall, when comparing the full year of 2010 to the full year of 2005, Average Prices were down 4% and Median Prices down 2%.  Sales volume is WAY down though.  Considering the news from many areas is tremendously worse, the news is not so bad, right?

But we're most of the way through 2011, so how about some more recent data?

Okay, to keep things apples to apples, let's compare the first SEVEN months of each year and what do you get??

Mason Ohio Real estate market report

Wow, BIG difference isn't it once you factor in the 2011 market?  Average prices are now back to 2005, and the MEDIAN prices are now up 10%!  So now we're dealing with some recent data, but how about August 2011 home sales?  The news is even BETTER!  64 more homes sold, average price of $323,820 (there's some million dollar plus homes in those 64), and the median price is up to $282,500! 

So what's our interpretation of the data? 

Honestly, there IS no interpretation here.  The stats are straight from the Cincinnati MLS of homes SOLD using a REALTOR®.  The data CLEARLY states the Mason area has ALREADY turned the corner

You've got new construction rolling again.  You've got Mason Schools rated Excellent with Distinction.  You've got Money Magazine rating Mason as #24 in the U.S. for Best Places To Live in the Small town/city category. There's a LOT of reasons for Mason to set the pace for Warren County housing.

So if you've been holding off waiting for the RIGHT time? 

If you're a buyer, you may have already missed the lowest point, but fortunately for you, interest rates are still phenomenal.

If you're a seller?  If you don't HAVE to sell, waiting for further recovery might still be in your best interest.  But if you've been waiting for signs of recovery because you are motivated to sell, well you can see the numbers and they speak for themselves.  Your decision, and we'd be happy to meet with you and help you make the best possible decision for YOUR circumstances. 

Serving Mason's residential real estate needs,

Liz and Bill aka BLiz

Posted by

REALTORS(S) Serving Warren County Ohio & Adjacent Areas

The Liz Spear Team of RE/MAX Elite
Elizabeth & William Spear
Ask for us by name if you visit the office!

EHO Two locations: Lebanon & Mason, OH
Liz direct:  513-265-3004
Bill direct: 513-520-5305     
Fax: 866-302-8418

MailTo:  LizSpear@Go-Concepts.com

Our Website:  www.LizTour.com

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Show All Comments
Rainmaker
599,030
Nancy Conner
Managing Broker - City Realty Inc - Olympia, WA
Olympia/Thurston County WA

What a great analysis of why some of the gloom and doom info is just NOT accurate compared to real, local, pertinent data.  Looks like it's time to buy in your area!

Sep 12, 2011 02:46 PM #7
Ambassador
903,372
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

What an absolutely fun market report - I enjoyed reading through the whole thing! 

AND, your area HAS turned the corner, and never was down by much!

Sep 12, 2011 02:53 PM #8
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Nancy, We love letting the facts state their case :)

Dagny, We try to put some interest into what would otherwise be just some tables :)  Most folks that bought in 2007/8 are probably in a negative position, or other people who used their home equity lines for things other than home improvements, but at least things are much more positive for MOST home sellers in Mason.

Sep 12, 2011 03:05 PM #9
Rainmaker
1,072,810
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Liz & Bill I always love looking at the Facts, the key is like you did the long trend not just a month over month snap shot. Here buyers and sellers can see the "Real Story"

Sep 12, 2011 04:55 PM #10
Rainmaker
391,565
Kristine Ginsberg
Morris County, NJ: Elite Staging and Redesign, LLC - Morris Plains, NJ
Morris County, NJ Stager

B&L - Very encouraging news and maybe this new information will get people who need to move off the fence and out looking....and buying. Sounds like things are turning the corner in Mason, OH! Hope this spreads to the rest of the country!

Sep 12, 2011 04:57 PM #11
Rainer
67,802
Greg McCown
Century 21 1st American - Tucson, AZ

Great news and nice to see it backed up with real data.  Although, I wish Arizona looked half this good from 2005 to present.  Surprisingly, this last year has been very stable here as well.  Hope it keeps up and public perception improves.

Sep 12, 2011 05:24 PM #12
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Endre, Some of our zip codes it would take years worth to even remotely pile up enough data.  The good news is Mason is one of our biggest and busiest markets for our county.  Straightforward to develop the comparisons.  There's at least another area or two I want to run the same number crunches and see what they tell us.

Kristine, It's fantastic news, and hopefully some of those folks will get off the fence and let us help them get them a great home.

Greg, The joys of being an engineer, number crunching is central to what I do :)  Glad your area is stabilizing too, would love that trend to keep spreading.  Bill

Sep 12, 2011 06:08 PM #13
Rainmaker
598,880
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

BLiz - EXCELLENT LOCAL REPORT!!!  What great news for your local market!  It's so true that the media loves spewing national averages when real estate is not national.  It's up to us local pros to get the facts out, data based on actual MLS info for our local areas.  I've been recently doing some local reports and they are so contradictory to what the national media is spewing.

Sep 12, 2011 06:17 PM #14
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Donne, In this case even contradictory to the data from 20 miles away. Cincinnati and Mason offer different things entirely, and this market is coming back strong :)  The problem continues to be that most news people here is nationally based, and even that national news is biased to a very few select markets.  We'll keep working on getting the local data out and hoping to influence as we can.

Sep 12, 2011 06:24 PM #15
Rainmaker
510,426
Christine Smith
Buyers Brokers Only LLC - www.BuyersBrokersOnly.com - Canton, MA
Exclusive Buyer Agent & Attorney, Canton, MA

I really like this market report for Mason.  I have a hard time doing these for some reason.  I need to work on them. 

Sep 12, 2011 08:05 PM #16
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Christine, This one is a side benefit of the work we were doing with the Little Miami School District tax levy posts.  We started pulling data to compare school districts and generated this data and some other districts also.  Might as well capitalize on it.  This isn't really formatted for a monthly style report, we'll work something different for that, but this format works well for a one time determination if we've turned the corner to recovery :)

Sep 12, 2011 08:19 PM #17
Rainmaker
686,449
Kay Van Kampen
RE/MAX Broker, RE/MAX Solutions - Springfield, MO
Realtor®, Springfield Mo Real Estate

Liz and Bill, great market report.  I haven't done a market report this month.  Better get started.

Sep 12, 2011 10:53 PM #18
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Kay, Plenty of time left to knock them out!

Sep 12, 2011 11:08 PM #19
Rainmaker
896,723
Jane Peters
Power Brokers Int'l - Los Angeles, CA
Connecting you to the L.A. real estate scene

You are right.  Even I can interpret this.  Mason Ohio real estate is on the upswing.  No question.

Sep 12, 2011 11:55 PM #20
Ambassador
417,656
Stacey Smith
Harcourt's Prime Properties - Dana Point, CA
Your Orange County Beach Cities Realtor

Great market report and update of your area Liz... seller's should really start feeling the fire under their buns soon.. Especially with the new construction in your area picking up.. It's time to sell!!!

Sep 12, 2011 11:58 PM #21
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Jane, Don't sell yourself short (no pun intended), you do quite well with the stats in your own market reports :)

Stacey, We're looking forward to some level of normality, the question is how long it will take for perception to match the stats?  The buyers are still under the impression that they own the market, but the facts are indicating they no longer have the same level of control they did a year ago.  The new construction builders have been running some pretty good incentive programs to get their industry moving again (e.g. 1/2 off options, etc.).  We've got two buyers under contract for new construction right now, one of which is in Mason and closes in a couple of weeks.

Sep 13, 2011 06:07 AM #22
Rainmaker
1,088,330
Ginny Gorman
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

I am inpressed BLiz with the prices for the area...and as they say things start west and move east & i do hope that is true...great info to share with sellers and buyers.

Sep 14, 2011 06:56 AM #23
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Ginny, One of the big pluses for our area is VERY affordable prices for great housing.  Now there's no ocean next door, but we make up for it in many other ways :)

Sep 14, 2011 07:20 AM #24
Rainmaker
694,784
Steve and Jan Bachman
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax - Herndon, VA
Realtors - Northern Virginia

Absolutely right no interpretation needed. Your market has recovered tremendously. Especially since 2005 was a market aberration in most of the nation when there was a feeding frenzy.

We have recovered about 2/3 of the price highs of 2005 here in Northern VA. You guys are doing better than that!

Sep 15, 2011 10:25 AM #25
Ambassador
1,489,740
Liz and Bill Spear
RE/MAX Elite 513.265.3004 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Steve, The thing here is 2005 was just another year here.  We never had a feeding frenzy, 1-3% appreciation per year for most of the 2000's and then we took the downturn late 2008.  We're not back to the peaks, but we'll get there in time.

Sep 15, 2011 10:29 AM #26
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RE/MAX Elite Warren County OH (Cincinnati/Dayton)
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