Tuesday, July 8, 2008

June Sales Numbers Surprisingly Down

June is traditionally one of the strongest selling months for Cache Valley Real Estate. This year, June Sales were actually down 36%. Only 91 single family homes and condos were sold. Is this just a fluke month, or is it a sign of things to come?

Up until this point Cache County home sales were among the strongest in the state. While home sales were down from last year, they were down less than 15%. The last time there was less than 100 homes sold in the month of June was 2003.

Cache Valley is usually a step behind Utah Real Estate trends, and while the Salt Lake, Provo, and Davis County real estate struggled substantially more at the beginning of the year these markets appear to be improving. It is possible that Cache Valley Real Estate will experience a substantial decline as well, but I personally believe that June home sales were probably just a fluke.

While home sales numbers were down, the average sold price in June for Cache County homes was actually up at an average sold price of $205,258.


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