Monday, May 24, 2010

Short Sales in Logan Down 33%

So I just ran the numbers to see the latest trends for Logan Utah Short Sales, and unless the MLS changed the way short sales are calculated, short sale numbers in Logan are way down. Of the 812 homes listed for sale right now, just 29 Logan Real Estate listings are short sales. This is nearly 33% less than last time I ran the numbers a month in a half ago.

Just 3.59% of the homes listed for sale in Cache County are listed as Short Sales. This is substantially down from the stable trend over the past six months.

Logan Real Estate Inventory Back UP

After the huge decline in Real Estate inventory at the beginning of the month, when home buyers rushed to get properties under contract at the end of April, Logan Utah Real Estate inventory is up again.

There are currently 812 homes for Sale in Cache County. This is 32 more homes on the market than two weeks ago. The number of home sales in may does look like it will be pretty strong. During May thus far, there has already been more than 65 residential homes sold.

Thursday, May 6, 2010

Cornerstone Real Estate #1 Cache County Brokerage for April

Once again Cornerstone Real Estate had more real estate transactions than any other Cache County Brokerage during April. In fact, Cornerstone had more buyer buyer transactions than any other brokerage had total real estate transactions.

Cornerstone Real Estate Professionals had twice as many transactions as @Home Realty Network and Parker Real Estate, and had ten more than Coldwell Banker.

Tuesday, May 4, 2010

Logan Real Estate Market Looking REALLY Good

The Logan Utah Real Estate market is looking really good. It's partially due to the homebuyer tax credit, but might also be partially due to an improved economy and more optimism for the future of Utah Real Estate.

During April, Cache County Real Estate sales were up almost 18% compared with last April. They were up almost 16% compared to the good sales numbers we had during March. So far, 95 residential homes on the MLS have been reported as sold.

In the near future, don't expect home sales to slow down. Right now there are 227 residential homes for sale under contract in Cache County. While some of these will fall through, that represents a substantial number of closings that will happen over the next few months.

The prices of homes that have sold in recent months is down, this is in large part due to the large number of purchases involved with first time home buyers. The average price of the homes sold during April was $163,795, down 6.48% from last years average price.

For other positive news, real estate inventory is also down, finally. This is in large part due to the increased buyer activity and the large number of homes that are under contract. It's possible that a lot of sellers took their homes off the market when didn't sell during the tax credit time. There are currently 774 Cache County Homes for Sale. And this actually includes a good number of "phantom listings" where the homes don't actually exist. This is actually less homes than were for sale during May of last year when the Logan area had 787 residential homes listed.

After seeing these numbers, I am very optimistic about the future of the Logan housing market. It looks like things have really turned around and are headed towards a balanced, normal, real estate market.