Thursday, March 6, 2014

Home Sales Up In February

As February goes, it was a good one for real estate in Cache County. We saw a 17.65% increase in home sales compared with February of last year and a 28% increase compared with January. February is traditionally the slowest month for Cache County real estate, so the fact that the numbers were this good bodes well for 2014.

While the home sales during February were up, there was also a good number of more expensive homes that sold. The average price of homes sold was $194,464 and the median price was $162,500.
The number of homes for sale is on the rise as spring enters. Right now there are 609 residential homes for sale and 119 properties under contract. We have 21 more homes listed right now than one month ago and 78 more properties listed than March of last year. Home buyers now have more options to choose from, and real estate prices are remaining steady.

At February’s home sales rate, Cache County currently has about 9 months of inventory. It looks as if home sales during March will be slightly better than they were during February.

Reposted from Real Estate Logan  

Thursday, February 6, 2014

January 2014 Home Sales Report

The residential real estate market in Cache County is experiencing a winter slow down. There were only 49 homes sold during January, which is down 38% from December, and 27% from January.

Number of Home Sales in Cache CountyJan-05Mar-06May-07Jul-08Sep-09Nov-10Jan-12Mar-13050100150200

Not only are the number of home sales down, but so is the average price of those homes sold. Lots of low end homes sold during January as the median sales price was just $139,000 while the average sales price was $154,863. These price levels are substantially less than normal monthly averages.

The good news for real estate agents and those trying to sell their homes is that it looks like the real estate market will pick up a little this month. Right now 114 residential homes are under contract compared with 90 at this time last month.

Reposted from Real Estate

Monday, January 6, 2014

December 2013 Market Conditions Report

Well, December home sales are up a little bit anyways. 80 residential home sales were reported on the MLS for December 2013. This represents a 7.5% increase from December of 2012, and a 2.5% increase from last month.

The number of homes for sale in Cache County dropped substantially over the last month, and there are now 559 homes listed for sale – the lowest the inventory level has been since March.
It appears as if the 2014 real estate market will start slower than things did last year. The 90 homes currently under contract are down slightly from the 127 pending home sales at this time one year ago. We haven’t seen this few homes under in nearly three years.

Reposted from