Tuesday, February 2, 2010

Logan Utah Real Estate Sales start 2010 off..... poorly?

Nobody knows exactly how well the Logan Real Estate market will do this year. Most of the Realtors I've talked too are optimistic that it is starting to improve, that things will be better. The last half of last year were much improved with their year over year comparisons.

Well the numbers for the first month of 2010 are mostly in. And so far, the numbers look pretty dismal. I normally don't do market condition stats quite this early simply because there are always some slow Logan Realtors out there who just forget to update their listings in the MLS. But, if these numbers hold accurate, home sales this January are worse than last year, and mark the single worst month for number of Cache County Home sales in nearly nine years.

Thus far, only 39 residential MLS listings in Cache County have been reported as sold. This is down nearly 5% from January last year, which was the worst month of the year for home sales.

The average price of homes sold during January was also down. The 39 homes that sold had an average price of $166,581 and a median sold price at just $146,250. This is the lowest single month average since May of 2006.

While home sales and prices were down, the amount of Logan Utah Homes for Sale was up. Cache County currently has 718 residential homes for sale. This is nearly 30 more homes for sale than we had during February of last year.

1 comment:

Moraia Property said...

I agree with your comments that most realtors have been optimistic of late. We were certainly among this group. We are still seeing improvements in property activity in Moraira Property in Spain. However I do feel we have a long way to go and if the market slowed again I would not be too surprised.