Real Estate Review of Stow
Despite the national trends in the housing marketing, the community of Stow is continuing to show a stable market for home prices although it may take slightly longer to sell.
Property values in Stow slightly increased in 2007, with the average sales price for the year increasing from $181,750 in 2006 to $182,525 in 2007. The Stow market showed an increase of average sales price between 2000 and 2005 with the exception of 2002 when the market remained constant. The average sales price slipped in 2006 although it never dropped below the 2004 average sales price and has continued to increase in 2007 despite National Market conditions.
The average sales price for 2000 was $163,302, increasing to $169,166 in 2001 and remaining constant at $168,870 in 2002. A larger increase occurred in 2003 when the average sales price jumped to $176,209. The market then remained relatively flat in 2004 with an average sales price of $177,806. The market then took another significant jump to $184,536 in 2005. The market then dipped back to $181,750 in 2006 which was still much higher than 2004. The average sales price continued to increase to $182,525 in 2007. The quarterly data shows that average sales prices in Stow tend to drop during the winter months each year.
The total number of home sales remained constant in 2007 after a decrease in 2006. There were 339 sales closed in 2007, as compared to 336 sales closed in 2006, 385 in 2005, 359 in 2004 and 382 in 2003. The average period of time it took to close escrow increased to 117 days, from 98 days in 2006. 
These figures are not precise, as not all sales are reported to the Multiple Listing Service.
If you would like a copy of the complete report, please contact me at 330-990-4236 or email me dawn@dawnsold.com
Copyright ©2008 by Dawn Maloney, All Rights Reserved.
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