Real Estate Review of Hudson
Despite the national trends in the housing marketing, the community of Hudson is continuing to show a strong, stable price market although it may take slightly longer to sell.
Property values in Hudson remained steady in 2007, with the average sales price for the year staying within $1,000 of 2006 after significantly increasing for the previous 2 years. This represents a constant increase since 2000 with the exception of 2004 when the average sale price remained constant. The average sales price for 2000 was $292,439, increasing to $296,288 in 2001 and $299,159 in 2002. A larger increase occurred in 2003 when the average sales price jumped to $322,387. The market then remained flat in 2004 with an average sales price of $322,074. The market then continued to increase to $334,439 in 2005, $342,909 in 2006 and finally to $343,505 in 2007. The quarterly data shows that average sales prices in Hudson tend to spike during the third quarter of each year with a significant dip in the fourth quarter.
The average sale price for the 2007 was $343,505.
The total number of home sales remained constant in 2007 after a decrease in 2006. There were 319 sales closed in 2007, as compared to 310 sales closed in 2006, 387 in 2005, 362 in 2004 and 331 in 2003. The average period of time it took to close escrow increased to 128 days, from 97 days in 2006.
These figures are not precise, as not all sales are reported to the Multiple Listing Service.
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