Tuesday, February 22, 2011

Less than 700 Homes for Sale in Cache Valley

Good news. Real Estate Inventory in Cache Valley Utah continues to drop. There are now just 699 MLS listings in Cache Valley.

This is the lowest Logan real estate inventory levels have been in more than a year. Traditionally, there are more listings at the end of February than the beginning. This year the trend has reversed as at the beginning of the mont there were 704 Logan homes for sale. This is a positive sign that the housing market might return to balanced levels near the end of the year.

The number of listed short sale homes in Cache County has declined one home, but with less homes for sale, the percentage of short sales actually rose. 8.58% of the active home listings are short sales including 29 properties in Logan, and 35 homes in the outlying Cache Valley communities.

Wednesday, February 2, 2011

January Year Over Year Home Sales Improved

The Logan Real Estate market is clearly not recovered from the great housing recession yet, but there are some positive signs.

January Home Sales were the best they've been since 2008, and up by 15% from last year. Reported thus far, 46 residential homes in Cache County have been reported as sold.

Logan Real Estate inventory has actually dropped over the last month from 716 listed homes to 714. Typically, the number of homes for sale increases from January to February, this is also a good sign for the real estate market. Although inventory is down from a month ago, there are still 17 more homes for sale in Cache County than there was at this time last year. At January's sales pace this represents 15 months of active inventory, which is quite high.

The list price of real estate in Cache Valley continues to drop. Last month the median price of homes for sale was $179,900. This month that median price is down $5,400 to $174,500.