"I conduct market condition stats for Logan Real Estate during the first part of every month. One of the things I pay attention to is the number of homes for sale in Logan Utah. This number has more significance on future pricing trends than anything else. It is simple economics. When there are more homes and less buyers, prices will go down. When there are more buyers than there are homes for sale, prices go up. While doing some statistics today to calculate the percentage of short sales in Logan, I noticed that there are currently 747 homes for sale in Cache County right now.
Just two weeks ago, there were 718 active residential listings in Cache County. That’s a net list vs. under contract of more than two new listings a day. At the rate we are going, we will likely see a record number of homes on the market, and will see more than 900 listings at once by the time summer hits.
In comparison, last year Cache County had less than 700 homes on the market. February of 2008 had 514 homes listed, and February of 2007 had around 400 listed homes, almost half the number we have right now.
It is possible that many of these homes were listed by people who want to take advantage of the move up tax credit. If this is the case, after April we may see a reduction in Logan Utah Real Estate inventory."
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