June Home Sales Mediocre

Cache County Home Sales for the month of June underperformed from the trends we have been seeing recently. Reported on the MLS thus far, only 93 residential homes have been reported as sold. This is down 1% from last month, and down nearly 15% from June of 2011. July, August, and September are typically the strongest months of the year for Logan Real Estate. It doesn't look like July sales will be much improved compared with June as there are actually four less under contract homes (163) than there was at this time a month ago. We have also seen a slight increase in the number of homes that are currently for sale in Cache Valley. The MLS currently shows 699 residential homes for sale, up from 695 a month ago. Compared with 2011, the number of homes for sale is substantially down. Home prices continue to remain fairly stable. The average price of homes sold during June was $172,262, while the median point was $159,900. One interesting note is that the median price of Under Contract homes has remained at exactly $159,900 for three consecutive months. While sales and under contract prices have remained stable, the average list price of Cache County homes has actually risen. While the pace of recovery has slowed, the outlook is still much better than it has been at any other time over the past four years. Mortgage interest rates are incredibly affordable, and there are still lots of great deals out there with motivated sellers and distressed inventory. Click this link to search Cache County Real Estate now.

June Cache Valley Home Sales Up

June was the best month for home sales in Cache County Utah in nine months. Nearly 100 residential properties sold. Home sales were up by 26% compared with May, and even up 6% compared with June of last year. This is the first time Cache Valley year over year sales have improved in 2009.

While home sales are up, prices are down. The average price of homes sold in June was $174,894. Down nearly 10% from the average sold price a year ago. Cache Valley Homes sold for an average of $81 per square foot.

Home sales are improving, but there are still too many homes for sale in Cache Valley for prices to appreciate. There are currently 845 residential listings on the for sale on the MLS. This is nearly twice as many homes as there were just two years ago.

June Sales Numbers Surprisingly Down

June is traditionally one of the strongest selling months for Cache Valley Real Estate. This year, June Sales were actually down 36%. Only 91 single family homes and condos were sold. Is this just a fluke month, or is it a sign of things to come?

Up until this point Cache County home sales were among the strongest in the state. While home sales were down from last year, they were down less than 15%. The last time there was less than 100 homes sold in the month of June was 2003.

Cache Valley is usually a step behind Utah Real Estate trends, and while the Salt Lake, Provo, and Davis County real estate struggled substantially more at the beginning of the year these markets appear to be improving. It is possible that Cache Valley Real Estate will experience a substantial decline as well, but I personally believe that June home sales were probably just a fluke.

While home sales numbers were down, the average sold price in June for Cache County homes was actually up at an average sold price of $205,258.