Has The Mason Ohio Real Estate Market Recovered?

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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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Topic:
Real Estate Market Trends
Location:
Ohio Warren County Mason
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HyperLocal Neighborhood and Community Posts
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Comments 26 New Comment

Ambassador
1,358,277
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

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.

September 13, 2011 06:07 AM
Rainmaker
1,000,613
Ginny Lacey Gorman
Homes for Sale in North Kingstown RI and beyond
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate

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.

September 14, 2011 06:56 AM
Ambassador
1,358,277
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

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 :)

September 14, 2011 07:20 AM
Rainmaker
669,464
Steve and Jan Bachman
Realtors - Northern Virginia
RE/MAX Gateway, Reston, Herndon, Ashburn, Sterling, Fairfax

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!

September 15, 2011 10:25 AM
Ambassador
1,358,277
Liz and Bill Spear
RE/MAX Elite Warren County Ohio
RE/MAX Elite 513.265.3004 www.LizTour.com

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.

September 15, 2011 10:29 AM
Ambassador
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Liz and Bill Spear

RE/MAX Elite Warren County Ohio
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Additional Information

REALTORS(R) serving Warren County Ohio and surrounding areas. Observing and reporting on real estate and related topics to help your quality of life! And if you're asking where is Warren County Ohio? We fill the space between Cincinnati and Dayton. Perfect for enjoying the bigger cities without living in them. Places like Mason, Lebanon, Springboro, Waynesville, Franklin and more. Plus lots of rural properties available too. We work with both residential homes buyers and sellers.