Stalled Luxury Home Sales

A few months ago I gave you information about the upscale housing market in the Greater Cincinnati area.  Those areas included Butler, Warren, Hamilton and Clermont counties.  We discussed the Jumbo Mortgage Market, and how tight control on the interest rates for the luxury home market may be slowing the housing market, at the “grass roots” level.

I just put together an update with closed sales stats through November 15, 2009.  I thought you might like an update.

Single Family Sales: Butler, Warren, Hamilton and Clermont Counties.
Source: Greater Cincinnati Multiple Listing Service

It’s possible that once the current 23 pending sales do close, that we the “Over $700k+” sales will not come to the anticipated 138 total.  We will just have to see if those homes, in this buyer driven market, that are priced close to the $700,000 list price, do indeed sell over $700,000

More Cincinnati real estate information can be found at RealCincy.com

• Procter & Gamble Health Care Research Center – 2,400 employees
• Cintas – 1,800 employees
• Luxottica Retail – 1,162 employees

In 2007, Money Magazine put Mason Ohio onto their top 100 best cities list:

http://money.cnn.com/galleries/2007/moneymag/0707/gallery.BPTL_top_100.moneymag/81.html

The Mason area of Warren County is a top destination for vacation travelers.  Area attractions include:

• Kings Island amusement park, home of the top two wooden roller coasters in the world
• Ohio’s largest water park, The Beach Waterpark, voted “Best Place to Get Wet”
• Five championship golf courses in the area, two of which are ranked among the most difficult and largest in the Tri-State.
• Six city parks totaling 242 acres of leisure and active space
• Western & Southern Financial Group Masters
• Mason’s 51-mile Bicycle and Pedestrian project.
• Mason Community Center, the second largest community center in the State of Ohio newly opened in 2003

The Mason Public School District was rated Excellent by the State of Ohio for 2006-2007.  You can find the school report at http://www.ode.state.oh.us/reportcardfiles/2006-2007/DIST/050450.PDF.  The Mason City Schools can be found at http://www.masonohioschools.com/ and the school boundries can be found at http://www.imaginemason.org/pdfs/SchoolDistrict.pdf.

I rarely hear complaints about Mason.  The only negative feedback comes from people who like lots of hills (Mason is mostly flat) and old homes (most homes are newer in Mason).   

You can find more information about the City from the City website:

http://www.imaginemason.org/

More Cincinnati real estate information can be found at RealCincy.com