Cache County Sales Stats Consistent

As I was calculating November home sales numbers I thought that I had an error in my formula as it was showing a 0% increase in both year over year and month over month home sales. It turns out the formula was right, Cache County had exactly 78 home sales in November, 78 home sales in October, and 78 home sales in November of 2012.


The notable difference between now and one month ago is the large decrease in homes for sale. Right now Cache County has 641 residential homes listed on the MLS. At this time last month, there were nearly 700. The drop in active listings isn’t because more homes are selling, but is a seasonal trend. During the Holidays and Cold weather, people just aren’t as motivated to try and sell and so often take their homes off the market. Many of these homes will likely be listed again next spring. Last year at this time there were actually only 545 residential listings, 15% less than what we have right now.


Reposted from RealEstateLogan.com

November Home Sales Rise

After a slight blip in the positive sales trends last month, once again Cache County home sales have improved.

 November home sales are up 15.38% compared with November of last year, and up 1.28% from October sales.
The average price of homes sold last month was $180,960 with a median price at $169,450. Logan real estate inventory continues to decline. Right now there are 545 residential properties listed for sale on the MLS. The median list price of these homes is $179,850.


At Novembers home sales pace, we have a "balanced" real estate market with 6.99 months of active inventory.

The positive real estate trends should continue in December and January as their are currently 164 under contract homes. The number was 110 at this time last year.

It doesn't look like real estate values will substantially rise any time soon, but it certainly doesn't look like we will see values drop any more.

If you can find a good property, it's a great time to buy Cache Valley Real Estate. Click this link to start your home search now.

Logan Home Sales Improved; But Still Poor

The good news is that home sales in Logan Utah were improved compared with the last two months, but they were still substantially less than average numbers for this time of year. Experts greatly underestimated how much the tax credit would push home purchases forwards, and we are still seeing lingering effects of the home buyer tax credits that expired earlier this year.

Reported so far, 54 MLS listed homes in Logan Utah were reported as sold. This is up by nearly 17% from the 45 residential homes that were reported sold at this time last month. However, it is down 32.5% compared with home sales during November of last year.

Logan Real estate inventory dramatically declined compared with a month ago. Cache County now has 794 residential homes for sale. This is the lowest number of residential listings since May. At Novembers sales pace, this gives Cache County just over 14 months of active real estate supply. There are 57 more homes on the market compared with this time a year ago.

Prices of homes in Cache County continue to decline. The current median list price of $179,950 is down almost $5,000 from a month ago, and down almost $10,000 from the median list price at the beginning of December last year. The average list price of $223,813 is also down, by more than $23,000 from one year ago.
The homes that are selling are among the least expensive of those listed. During November the average sales price was $164,139, with a median point of just $153,700.

November Home Sales up 37% from 2008

Cache County home sales were up 37% compared with November of last year when just 51 residential homes in Cache Valley sold. So far, 81 Cache Valley homes have been reported sold by the MLS.


The huge increase in home sales can largely be attributed to the scheduled expiration of the first time buyer tax credit. Although it has been extended, many people purchased Logan real estate because they were trying to beat the expiration.

With many of the homes purchased by first time buyers, the median price of homes sold in Logan was also substantially down. The median sold price was just $150,000, the lowest it has been in years.

Even though home sales were up compared with last year, they were down compared with October. The amount of homes for sale in Logan only declined slightly during November. At November's home sales rate, there is currently 9.3 months of active real estate inventory in Cache Valley. The actual number of homes on the market has gone down, but as a ratio the inventory is up.

Logan Home Sales Consistent

For the second straight month home sales in Cache County are at least as good as they were a year ago. In October, 91 residential homes in Cache Valley were sold. This is exactly the same number as were sold last year. The average price of these homes sold was actually up 5% at $189,264, but the price per square footage was down to $79 per square foot. The lowest level in a year and a half. This shows that some large homes were sold at some pretty good prices during October.

Inventory of existing homes continues to go up. There are currently 778 active residential home listings in Cache Valley. The median price of these listings has dropped slightly and is now $207,900, $33,000 higher than the October median sold price of $174,000. To view all Logan Utah Homes for sale visit Real Estate Logan.com.