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.

Cache County Real Estate Inventory at 4 Year Low

Right now there are just 564 residential homes for sale in Cache County, Utah that are listed on the MLS. This is the lowest real estate inventory has been since March of 2008. There are more than a hundred less homes than were listed at this time last year, and 280 less homes listed than November of 2010.

As fall turns to winter it's common for real estate inventory to decline -- lets face it, nobody wants to move in the middle of a Cache County winter. But, the rate of decline is a big indicator of the recovering local real estate market.

While the real estate market is clearly recoverying, October wasn't exactly the strongest month for real estate sales. 77 residential homes sold, which is down 1.28% from last year and 2.53% from last month.

The average price of residential homes sold during October was $170,319, with a median price at $155,000.



It looks as if November and December real estate sales will be better than average. Right now there are 169 pending home sales. This is up from 148 under contract homes at this time last month. Homes are still inexpensive, and real estate mortgage rates are still at all time lows. Start your home search by clicking this link.

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.

July Annual Home Sales Numbers Improve in Cache County

Over the past few years July has been among the slower months for real estate sales in Cache County. Not sure if it's the holidays, or that many people are busy with family vacations during July, but home sales in June, August, and September are typically better than July; this year being no different.

Reported on the MLS so far, 90 residential homes in Cache County have sold. This is a 26.67% from July of last year, but a 3.23% decline from June Home Sales. The median price of these homes sold was $152,500 with an average at $176,247.

The good news is that under contract home sales are substantially up. Right now there are 186 under contract homes for sale. This is the highest number of pending home sales since the first time buyer tax credit in May of 2010. Home sales in August and September should be the best they've been in years.

Real Estate inventory is on the decline. The Logan area currently has 677 homes for sale listed on the MLS. This is down 22 from this time last month. At July's home sales pace, this represents 7.62 months of active inventory.

Mortgage interest rates hit a new all time low again this week. 30 year fixed mortgages can be obtained for less than 3.5%, 15 year fixed for less than 2.875%. The low cost of financing makes real estate in Logan Utah very affordable. It's a great time to buy, start your home search by clicking this link.

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.

May Yields Strong Home Sales

May was the strongest month for Cache County home sales in nearly a year. So far, Realtors have reported 94 residential home sales. This is up  24.47% from this time last month, and up 8.51% from May of last year.

While home sales went up substantially, the number of under contract homes only slightly rose. Right now there are 167 pending home sales, up just two from a month ago. If this is an accurate indicator of future home sales, home sales numbers should be very similar this month. Based on the 94 homes sold last month, Cache County currently has 7.38 months of active inventory; a fairly healthy level. Real Estate inventory hasn't been this low on a month/month level since the Tax Credit expiration in June of 2010. When you look at the actual number of home listings, right now we are even better off than we were in June of 2008 when the housing bubble peaked. Logan home prices appear to be holding steady, if not rising slightly. The current median list price of Cache Valley homes is $179,900 while the average asking price is $226,260. From the homes sold during May, the average list price was $176,240 while the median list price was $157,950. The Logan real estate market has clearly turned around. While the national economy is still struggling mortgage interest rates are still incredibly low, and it is a great time to start house hunting.