Monday, February 11, 2008

Are '08 Utah Home Sales Sagging? Not in Cache Valley.

With January's home sales stats in, the Cache Valley Real Estate market isn't sagging thus far, in fact, it is ahead of 2007's pace and had the most single family houses sold ever.

The first month of '07 had just 70 single family homes sold. In '08 we had 77, despite the much harsher winter. With the incredibly low interest rates, things are looking good for the real estate economy in Cache Valley this year. Presently, 30 year fixed mortgages can be obtained for almost 5.5% interest.

January's sold homes had an average price of a little more than $194,000, these houses were on the market for an average of 60 days. Presently there are 476 single family homes for sale on the market. The average sold price is actually down over '07's January price of $197,084, but the average 2007 house sold in January was 300 square feet bigger. Home prices overall have not gone down. To view homes for sale, visit Cache Valley Homes for