Friday, July 8, 2011

Best Month For Logan Home Sale in a Year

The monthly home sales numbers for Logan Utah Real Estate during June the best they've been in over a year. As reported from the MLS, 109 residential homes in Cache County have sold. This is the highest single month of home sales since May of 2010 when 114 residential homes sold.

Unfortunately, it looks like this increased home sales trend might not last for too long. Normally, July, August, and September are the best months of the year for number of home sales. Right now there are less homes under contract (124), than there were a month ago (151).

Fewer under contract homes means that there will be less home sales in the future months. The number of homes for sale in Cache County has risen. There are currently 816 MLS home listings compared with 802 a month ago. If inventory continues to rise while home sales don't, home prices will continue to decline.

One interesting thing about June home sales was the increased size of homes sold. The average square footage was more than 2,400 square feet. This is a few hundred square feet bigger than the average home sold a year ago. During June the average sales price of Cache County Homes was $182,079. The median sales price was $160,000.