Tuesday, November 6, 2012

Cache County Real Estate Inventory at 4 Year Low

Right now there are just 564 residential homes for sale in Cache County, Utah that are listed on the MLS. This is the lowest real estate inventory has been since March of 2008. There are more than a hundred less homes than were listed at this time last year, and 280 less homes listed than November of 2010.

As fall turns to winter it's common for real estate inventory to decline -- lets face it, nobody wants to move in the middle of a Cache County winter. But, the rate of decline is a big indicator of the recovering local real estate market.

While the real estate market is clearly recoverying, October wasn't exactly the strongest month for real estate sales. 77 residential homes sold, which is down 1.28% from last year and 2.53% from last month.

The average price of residential homes sold during October was $170,319, with a median price at $155,000.

It looks as if November and December real estate sales will be better than average. Right now there are 169 pending home sales. This is up from 148 under contract homes at this time last month.
Homes are still inexpensive, and real estate mortgage rates are still at all time lows. Start your home search by clicking this link.