2008 is half way over. The average price of sold homes is actually up 3.5% compared to the first six months of '07. So far the real estate market in Cache County was a little slower than it was last year as just 470 homes were sold compared to 588 homes sold January-June of last year.
The median sold price so far this year is $179,375. Home prices are not actually up, just the average price of homes sold. If you bought a home at the end of last summer you could probably now get a little nicer home for the same price. Even the average sold price is down compared to the last half of 2007.
At the end of June there were 748 residential homes on the market in Cache County including 660 houses and 79 Cache Valley Condominiums.
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I think that the price growth is due to the falling value of the dollar. If that would be different I guess that the market in Cache county would show simmilar trends as elsewhere in Norh Americe. As a Toronto real estate agent I think that the overall market conditions are now returning to the normal after the past few years.
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