Here’s a look at the real estate market in Mason and West Chester for February 2018. Average sales prices drop substantially in January for Mason. West Chester sees a less dramatic slip in sale prices. Take a closer look at the stats for this month.
A Look at the Housing Stats for Mason
January ended with a total of 49 homes sold in Mason. Of properties sold, 21 sales were condominiums and 28 were single-family residential homes. There were 18 two-bedroom, 11 three-bedroom, 19 four-bedroom, and 1 five-bedroom homes sold during the month of January.
A Look at Housing Stats for West Chester
At the end of January, there were 91 homes sold in West Chester. Of properties sold, 19 were condominiums and 72 were single-family residential homes. There were 30 three-bedroom, 54 four-bedroom, and 5 five-bedroom homes sold during the month of January.
What does this mean for buyers?
Average sale prices continue to drop for home buyers in Mason. Add the dropping prices to the limited number of homes on the market, and you get a strong sense of competition among buyers.
For buyers in West Chester, sale prices dipped a bit this month over last. Buyers continue to stay consistent when it comes to the number of bedrooms desired.
The market typically shows a slow down during the months of December and January, but keep your eye on things as we move into February and March
What does this mean for sellers?
Sellers in Mason are receiving 96.64% of their listing price for homes sold. When you consider that percentage and the 31 average days a home stays on the market in this area, it’s easy to see that it’s prime time to sell a home in this area.
Sellers in West Chester are receiving 97.5% of their listing price for homes sold. The average time a home stays on the market in this area is 44 days. Sellers have the upper hand when it comes to the real estate market in this area.
Sellers will want to speak with their real estate agents about setting their listing price correctly from the start. Your real estate agent will compile a comprehensive report that will help. Setting the price too high can cause your property to sit on the market. Setting the price too low can create a money losing situation.