Tuesday, January 5, 2010

Logan Utah Real Estate December Numbers

Logan Utah Real Estate sales during December were almost identical to a year ago. From the MLS Listings sold during December, there has been reported one more home sold, and the average and median prices of homes sold was just slightly down.

December of 2009 had 62 residential homes in Logan listed on the MLS sell. These homes had a median sales price of exactly $150,000 and an average price of $172,734.

At this time last year, there were 61 Logan UT Real Estate listings reported as sold. These homes had a median price of $151,840, and an average price at $161,499. The average price is almost $10,000 higher this year, in large part because there were two Cache Valley Homes priced above $450,000 that sold in 2009, while there weren't any homes that expensive that sold last year.

There are currently 693 homes for Sale in Cache County Utah. This is the lowest level of inventory since February. There are 9 more homes on the market right now than there were a year ago. At December's home sales pace, Cache Valley has 11.24 months of inventory. Until this goes down home prices will remain soft.

December is the first month in quite some time that is mostly unaffected by stimulus. Although the government tax credits were extended, and still in effect, they were late enough that there were likely very few closings during December that were a direct result of the new $6,500 tax credit.

If this is any indication of future home sales for Cache County, statistically we can expect a similar year for real estate in Cache Valley.

No comments: