Friday, August 3, 2012

July Annual Home Sales Numbers Improve in Cache County

Over the past few years July has been among the slower months for real estate sales in Cache County. Not sure if it's the holidays, or that many people are busy with family vacations during July, but home sales in June, August, and September are typically better than July; this year being no different.

Reported on the MLS so far, 90 residential homes in Cache County have sold. This is a 26.67% from July of last year, but a 3.23% decline from June Home Sales. The median price of these homes sold was $152,500 with an average at $176,247.

The good news is that under contract home sales are substantially up. Right now there are 186 under contract homes for sale. This is the highest number of pending home sales since the first time buyer tax credit in May of 2010. Home sales in August and September should be the best they've been in years.

Real Estate inventory is on the decline. The Logan area currently has 677 homes for sale listed on the MLS. This is down 22 from this time last month. At July's home sales pace, this represents 7.62 months of active inventory.

Mortgage interest rates hit a new all time low again this week. 30 year fixed mortgages can be obtained for less than 3.5%, 15 year fixed for less than 2.875%. The low cost of financing makes real estate in Logan Utah very affordable. It's a great time to buy, start your home search by clicking this link.

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