Great Home Sales Trend for Logan Doesn't Last Long

After the huge home sales numbers we saw in August, I was pretty sure the real estate market had completely turned around....

Well, September numbers put a damper on the optimism. Cache County home sales were down 39% compared with August; 79 residential homes sold compared with 129. Total residential home sales were even down 9.2% from September of 2011 when 87 homes sold.
While there were less homes that sold during September compared with August, the median price of these homes was substantially higher at $174,850. Just three months ago the median sales price was $152,500.

Real estate inventory in Cache County continues to decline. Right now there are 621 homes listed on the MLS, this is 83 less listings than at this time a year ago. Many potential home buyers can't find what they are looking for.
While home sales declined substantially compared with last month, October and November should still see above average real estate sales. Right now there are 148 residential homes listed on the MLS that have contracts pending.

 Mortgage interest rates are still incredibly favorable for buyers. 30 year fixed mortgages can be obtained for less than 3.5%. The trends are looking like home prices are going to be increasing. If you're on the fence about buying real estate, start now by searching real estate listings here:

Monster Month for Cache County Real Estate - Home Sales up 33%

Wow. If August numbers are an indication of the current Cache County Housing market then the market has shifted a lot faster than anyone expected.

August was the best single month for home sales in 5 years. The last time there were more homes sold was August of 2007, the height of the housing bubble. Last month we saw 129 residential homes sell in Cache County, up 33.33% compared to August of last year, and up 30.23% compared with last month.



Not only are we seeing an increase in the number of home sales, but home prices are also rising. Of the homes that sold last month, prices were up 8.75% compared with July. The median sales price was $169,900 while the average price sold was $193,375. Overall, active listings are also priced higher than they were a month ago. The current average list price of Cache County homes is $227,573, up from $225,206 in July.



The numbers are indicating that home prices in Cache County will continue to increase in value. Real estate inventory is still declining, and the number of pending home sales continues to remain high. We haven't seen this few homes for sale during September since 2006.



Interest rates are still at historic lows, it's a great time to start shopping for real estate before home prices rise much more. Use this link to get started with your home search now.