Wednesday, January 19, 2011

Short Sales Spike in Logan

With home prices declining, and more people who bought during the housing boom that need to sell now, the number of short sale homes in Logan, UT is rising.

Over the last month, the percentage of Cache Valley Short Sales rose by 16.4%. There are now 61 homes on the MLS listed as "short sales." As a percentage of total listings, the number of short sale listings has risen to 8.38% of all residential listings.

If more homes don't start selling, and if home prices don't start going up soon the number of foreclosures in Cache Valley will also see increases in the near future.

Tuesday, January 4, 2011

December Best Month for Logan Home Sales Since August

There is some good news for the Logan Real Estate market. Home sales were actually improved during December. It was the best month for home sales since August as 64 MLS homes have been reported sold so far.

Some other good news is that inventory is also substantially down. At Decembers home sales pace the 716 active listings represent just over 11 months of active inventory. This inventory is higher than at this time a year ago when there were 687 Cache Valley Homes for Sale.

Real Estate prices in Cache County, Utah continue to decline. The current average list price of homes for sale is $216,103, with a median list price at $179,900. During January of last year the average list price was $238,338, and the median list price was $189,250.

January of 2010 was one of the worst single months for home sales ever. Expected home sales for this month will likely be better than those of a year ago, but should be down from December. There are currently just 70 under contract listings in Cache County at the moment. This is 23 less pending homes than Cache Valley had at this time a month ago.

The time is still ripe to get great home deals and mortgage rates on Utah Real Estate. To start your home search visit Utah Homes for Sale today.