Is Tallmadge, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Tallmadge was a Seller's Market.
Key Takeaway
Tallmadge is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Tallmadge, OH
How much do homes in Tallmadge, OH cost?
Median Sold Price
$260,000
$144/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Tallmadge have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Tallmadge was $260,000 in May 2024, up 3.5% from last year, and the median price per square foot was $144.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $230K | $225K | -2.2% |
| 3 Bedrooms | $240K | $250K | +4.2% |
| 4 Bedrooms | $315K | $322.5K | +2.4% |
| 5+ Bedrooms | $358.5K | $289K | -19.4% |
Summary: Tallmadge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.2%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Kent | $205K | $230K | +12.2% |
| Munroe Falls | $226.7K | $251.5K | +10.9% |
| Springfield Township | $170.1K | $184.3K | +8.3% |
| Tallmadge | $251.1K | $260K | +3.5% |
| Brimfield Township | $257K | $252K | -1.9% |
Housing Supply in Tallmadge, OH
How many homes are available in Tallmadge, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 54 | +31.7% |
Summary: The Tallmadge real estate market had 54 homes for sale in May 2024, a 31.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 24 | 34 | +41.7% |
| 4 Bedrooms | 9 | 12 | +33.3% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Tallmadge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 41.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tallmadge, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Tallmadge in May 2024, down by 38.5% month-over-month. Of the 8 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Tallmadge, OH
How long does it take to sell a home in Tallmadge, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 17 Days | -27.9% |
Summary: Homes in Tallmadge had an average of 17 days on market in May 2024, down by 27.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Tallmadge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Tallmadge; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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