Logan Utah Home Sales for January 2010

Real Estate in Logan Utah was not doing so good during January compared to months previous. During January only 16 homes were sold, whereas, there were 25 homes sold the previous month, December. Although home sales went down since December, they were about the same as January of last year.

Not only have homes sales dropped in Logan but so has the Average Sales Price of the homes being sold. This January the Average Sales Price was around $125,228 which is down from December when it was $130,716. In Logan the amount of homes sold during January was around the same amount as last year but as for the Average Sales Price, that wasn't the case. Last January the Average Sales Price was $172,173. That is around $57,000 more than January of this year.

Other cities in Cache County are experiencing sort of the same decline in home sales. In Providence, Smithfield and Hyrum the number of homes sales is pretty much always in the single digits anyways but there has still been some decline in their home sales.

In Providence, homes sales were barely down from December's home sales but before December home sales were higher with 7 and 9 home sales rather than only having 3 and 4 home sales Like December and January did. But unlike Logan, Providence's Average Sale Price is up more than $4,500 from last January, not down.

In Smithfield and Hyrum Utah, homes sales went down as well. Although both cities already have low home sale numbers anyways, January wasn't any better. Smithfield went from 11 homes sold during December to 6 homes sold during January. Hyrum went from 5 homes sold during December to 0 homes sold the entire month of January.

Logan Utah Real Estate Sales start 2010 off..... poorly?

Nobody knows exactly how well the Logan Real Estate market will do this year. Most of the Realtors I've talked too are optimistic that it is starting to improve, that things will be better. The last half of last year were much improved with their year over year comparisons.

Well the numbers for the first month of 2010 are mostly in. And so far, the numbers look pretty dismal. I normally don't do market condition stats quite this early simply because there are always some slow Logan Realtors out there who just forget to update their listings in the MLS. But, if these numbers hold accurate, home sales this January are worse than last year, and mark the single worst month for number of Cache County Home sales in nearly nine years.

Thus far, only 39 residential MLS listings in Cache County have been reported as sold. This is down nearly 5% from January last year, which was the worst month of the year for home sales.

The average price of homes sold during January was also down. The 39 homes that sold had an average price of $166,581 and a median sold price at just $146,250. This is the lowest single month average since May of 2006.

While home sales and prices were down, the amount of Logan Utah Homes for Sale was up. Cache County currently has 718 residential homes for sale. This is nearly 30 more homes for sale than we had during February of last year.

Logan Short Sale Numbers Constant

The number of short sale homes in Logan Utah has remained pretty constant over the last four months. Currently Cache County has 47 homes for sale that require "short sale" bank approval. This is the same amount of short sale homes as were on the market last month.

Percentage wise, the number of short sales is actually up slightly as there are now less total homes for sale. Last month there were 738 total residential MLS listings, this month there are just 720. Logan City itself has 13 short sale homes, the remaining cities in account for 38 Cache County short sales.