Here’s a look at the real estate market report for Mason and West Chester for August 2018. We’re seeing fewer active listings as we move into the end of summer months. We’re also seeing a drop in the average sale price. Will this continue? Let’s take a closer look at the real estate numbers for Mason and West Chester.
A Look at the Housing Stats for Mason
We began the month of August with 74 active listings and 64 pending sales in Mason. There were 100 homes sold with an average listing price of $352,469. This amount is down from the $388,273 we saw last month. The average sale price for July was $343,400, which shows a substantial decrease from the $380,514 from June. The median sale price for homes in the Mason area was $293,750. This amount shows a decrease from the $336,973 last month.
There were 14 two-bedroom, 28 three-bedroom, 48 four-bedroom, and 10 five-bedroom homes sold during the month of July.
A Look at the Housing Stats for West Chester
At the end of July, there were 98 active listings in West Chester. There were 150 homes sold during the month of July and the month ended with 181 pending sales. The average listing price for homes sold in the West Chester area was $291,918. This amount is down slightly from the $293,000 we saw in June. The average sale price was $284,690, which is a decrease from the $285,882 from last month. The median sale price comes in at $261,000. This amount is down from the $267,000 recorded for June.
There were 49 three-bedroom, 81 four-bedroom, and 10 five-bedroom homes sold during the month of July. Four bedroom homes continue to be the most popular home choice for buyers in West Chester.
What does this mean for buyers?
The number of active listings dropped for both Mason and West Chester for the month of July. Competition is still strong for those seeking their dream property. How can you get ahead of the competition? Sign up to receive email updates when new homes are listed. Having your own account allows you to customize your search options and save time by saving your previous searches.
Three and four bedroom homes remain popular among buyers in both areas, but we do see an interest in five bedroom houses. Wondering if you can afford a home with more space? Use our handy mortgage calculator to get an idea of how much home you can afford before you move on towards getting a home mortgage pre-approval.
What does this mean for sellers?
Sellers in Mason are receiving 98.28% of their listing price for homes sold. Homes in this area stay on the market for an average of 29 days.
Sellers in West Chester are receiving 98.43% of their listing price for homes sold. The average time a home stays on the market in this area is 24 days.
Last month showed fewer active listings on the market in both Mason and West Chester. This may be the perfect time to list your property so that it receives the attention of home buyers who are in strong competition for new listings.
Just thinking about selling your home? Get an idea of your home’s value by completing a home valuation online. Contact us to get a comprehensive home valuation that can help you set the right asking price from the start.