Logan Home Sales Improved; But Still Poor

The good news is that home sales in Logan Utah were improved compared with the last two months, but they were still substantially less than average numbers for this time of year. Experts greatly underestimated how much the tax credit would push home purchases forwards, and we are still seeing lingering effects of the home buyer tax credits that expired earlier this year.

Reported so far, 54 MLS listed homes in Logan Utah were reported as sold. This is up by nearly 17% from the 45 residential homes that were reported sold at this time last month. However, it is down 32.5% compared with home sales during November of last year.

Logan Real estate inventory dramatically declined compared with a month ago. Cache County now has 794 residential homes for sale. This is the lowest number of residential listings since May. At Novembers sales pace, this gives Cache County just over 14 months of active real estate supply. There are 57 more homes on the market compared with this time a year ago.

Prices of homes in Cache County continue to decline. The current median list price of $179,950 is down almost $5,000 from a month ago, and down almost $10,000 from the median list price at the beginning of December last year. The average list price of $223,813 is also down, by more than $23,000 from one year ago.
The homes that are selling are among the least expensive of those listed. During November the average sales price was $164,139, with a median point of just $153,700.