Mason, Ohio 2008 Home Sales Statistics

Here following are the current real estate statistics for Mason and Deerfield Township combined:

In 2008
Sold properties 590
Houses which did not sell during the listing period 346
Currently on the market 355
Pending 47

These statistics are interesting and somewhat misleading.  Don't get too distressed over the expired listing figure.  This figure could include the same house many times, depending on how many times it was listed and when the listing contract expired during the year.

I think what is more interesting is that whereas 590 Mason Deerfield Township homes sold in 2008, there are currently 355 already on the market. That is over 6 months supply which more or less guarantees that we are going to have a lot of expired listings.

The figure of 47 Pending is a little less than a month's average of closings for 2008, but this is the winter when less homes sell anyway. We'll have to wait and see what happens in the next couple of months.

In general, over the 4 counties in Southwest Ohio, we are seeing a median price dipping quite fast over the last few months of 2008.  However, over the next few months with these lower interest rates, we are hoping this will reverse at a higher rate than last year.  I have talked to quite a few mortgage lenders over the last few weeks and what I have found is that most of their current business is not loans for new buys but loans for refinance.  It doesn't sound as though the lower interest rates are pushing the houses to sell.

However, more money in people's pockets is potentially more money paid off on mortgages, more money to pay off credit cards and more money to fix up homes. This is all good when the house eventually does go on the market. 

For more information on the median sale price you can go to Cincinnati Real Estate Market Statistics and you can see the latest bar graphs with trend lines.

If you have specific questions feel free to call us at 513.766.3878 or email The Meadows Team.