MARCH 2012 REPORT - MASON REAL ESTATE TRENDS

WELCOME MASON BUYERS AND SELLERS!   I hope you are enjoying this beautiful Sunday afternoon on August 12th!  I am so glad that the heat has eased up a bit and we can all sleep a little better with these recent, cooler nights!  The nights may be cooler now, but real estate is still hot in Mason!  It's a great time to buy in the Mason market...with low interest rates, great price tags on homes and the rush of seller's hoping to sell before the holidays set it, you can't help but want to at least take a look at the inventory of homes on parade in the Mason Area these days!  These marketing stats will be your clue to selling and buying in this incredible market.

Today, Aug. 12th, we currently have 234 homes for sale in Mason with a median list price of $202,400.  The median days on market expectation for these homes before they sell is now at 60 days, so sellers take note.  We also should point out that there are currently 81 Mason sales pending right now with an average median sale price of $185,000 and a median days on market of 77.  

The true litmus test for predicting marketing analytics is found in Mason homes that have sold in the last 6 months.  These are the homes that the appraisers are looking for as new comparatives to rank new appraisals in the market.  So if we take a look at the solds for the area, we find that 204  Mason Homes were sold within the last 6 months with an median  list price of  $292,500 and a median sale price of  $281,650.   That means the spread between asking and final sales price was just about 3.7%...something to note if you are buying or selling in Mason these days!  (Back in March 2012 it was 5%....we are starting to shrink!)  If you are a seller, your best plan is to price your home right to attract the buyers and compete with the competition, but expect that there may be a spread of up to 3 or 4% to settle the deal.  That can mean up to to $10,000 less on an asking price of $250,000.   If you are buying in this area, then consider your offer carefully and stay within the elasticity of the market to make sure you do not fall out of the deal.

Proceed with knowledge and be empowered to make the right decisions in all your real estate transactions. 
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NORTHERN KENTUCKY Real Estate Sales - Cathy Miles Realtor®
CINCINNATI, OHIO Real Estate Sales - Cathy Miles Realtor®  
I specialize in helping buyers and sellers with their real estate needs in Northern KY (Florence, Erlanger, Union, Richwood, Burlington, Hebron, Taylor Mill and surrounding areas) and in Cincinnati, OH (Hyde Park, Oakley, Clifton, Mt. Adams and surrounding areas). With passion, I invite you to board my boat for your next destination and allow me the opportunity to help you navigate the ever changing currents of this incredible market! 

  just ask cathy...513.673.7726
Helping to educate buyers & sellers to make sound real estate decisions.
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KY /OH Realtor®/EXIT/www.mileshometeam.com / I-Fax: 888.398.3974 /cathy@mileshometeam.com