The Logan Real Estate market is clearly not recovered from the great housing recession yet, but there are some positive signs.
January Home Sales were the best they’ve been since 2008, and up by 15% from last year. Reported thus far, 46 residential homes in Cache County have been reported as sold.
Logan Real Estate inventory has actually dropped over the last month from 716 listed homes to 714. Typically, the number of homes for sale increases from January to February, this is also a good sign for the real estate market. Although inventory is down from a month ago, there are still 17 more homes for sale in Cache County than there was at this time last year. At January’s sales pace this represents 15 months of active inventory, which is quite high.
The list price of real estate in Cache Valley continues to drop. Last month the median price of homes for sale was $179,900. This month that median price is down $5,400 to $174,500.