Real Estate Review of Tallmadge
Despite the national trends in the housing marketing, the community of Tallmadge is continuing to show a stable market.
Property values in Tallmadge increased in 2007, after a decrease in 2006. The average sales price had been showing steady increases in the early 00's. In 2003, the average sales price took a slight dip and regained its momentum in 2004. It declined in 2005 and 2006 and has started to rebound in 2007. The average sale price for 2000 was $137,763, increasing to 143,713 in 2001 and $158,434 in 2002. A decrease to $154,463 was noted in 2003. 
The market then rebounded in 2004 with an average sales price of $168,576. The market then decreased to $167,077 in 2005, and $164,710 in 2006. In 2007, the market rebounded to $166,185 although it has not reached its high that had previously noted in 2004. 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 total number of home sales decreased in 2007 after an increase in 2006. There were 133 sales closed in 2007, as compared to 167 sales closed in 2006, 159 in 2005, 140 in 2004 and 155 in 2003. The average period of time it took to close escrow increased to 124 days, from 117 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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