Cache County Home Sales Stats

This shows the comparison between average home prices in Cache County for the last thre years. Overall, the average price of homes clearly rose in 2007. The numbers between 2007 and 2008 show that Cache County Real Estate has remained fairly stable.


This graph shows the comparison between home sales numbers last year vs. this year. Through 9 months home sales are down 18% compared too last year. In September home sales were as good as a year ago. I expect this trend to continue. It was a little over a year ago that the market started to shift. From here on out our home sales should be at least as good as they were a year ago.

Preforeclosure: Below Market Value

This house is a deal. It was under contract but the sale failed. Bank has approved a short sale amount of $139,000. Great starter or retirement house.

Mortgage Rates Volatile, but Good

According to Brad White of Northern Utah Mortgage and Loan, Mortgage rates are doing some interesting things with the varying economic news. 

WOW! Hold on! This has been as volatile a few days that I have seen for years. Monday rates were great, Tuesday started to come back too where they have been and today they are settling pretty close to last weeks rates!

Currently 30 year fixed Mortgages can be given at 5.75%, 15 year fixed mortgages at 5.5%, and Rural Housing loans at 6.125%

30 Year Fixed Mortgage Rate below 6%

The mortgage rate update report from Brad White of Northern Utah Mortgage has 30 year fixed mortgage at less than 6%. They haven't been this low in a while. It may be a good time to make that offer on the home you've been thinking about buying. 15 year fixed mortgage rates were even lower at 5.5%.

August Market Update

The Logan Real Estate Market doesn't look like it will be fully recovered this year. August homes were really pretty dismal compared too the last two years. So far only 100 residential homes have been reported as sold in Cache County (this number will go up a little as some lazy Realtors probably have not yet reported their end of month home sales). This puts August sales down nearly 30% from last August and down 37% from 2006 August sales numbers.

Many of the vacant high end homes are slashing prices and are starting to sell. This has raised the median and average sales price. Overall prices are not up, but August had the highest average sales price ever at $204,730. The median sold price was $186,200 and the homes that were on the market were on for an average of 95 days.

Currently there are 648 single family home listings and 740 total residential listings on the market. This number is gradually declining, but there are still too many homes for sale in Cache County.

Mortage Rates and Housing Inventory Update

Well Housing Inventory in Cache Valley Utah has stayed pretty stable over the past month. There are currently 671 single family home listings and 767 total MLS listings. This is almost identical to where it was a month ago. The number of listings on the market historically goes down at the end of summer as this is when the highest percentage of homes sell. If this housing inventory doesn't reduce, we could be in for a long winter with modest price declines.

Mortgage rates have fluxuated up and down with varying economic news, but seem to be staying between 6 and 6.5 percent for fixed rate mortgages. The Northern Utah Mortgage Update today had 30 year fixed mortgages at 6.375% and 15 year fixed mortgages had a rate of 5.875%.

July Home Sales Numbers Up

Home sales in Cache County were up compared to June, and only down 10% compared to July of last year. 109 single family homes were sold this July in Cache County. The average price of these homes was just under $200,000 at $199,031. There were also 12 condos sold in Cache County, down from 19 sold last July.

Currently there are 672 single family home listings, 77 condos for sale, and 41 multi family properties for sale in Cache County. The number of active listings in Cache Valley has been steadily dropping for the past few weeks. This is good for the real estate market.