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Cache County Utah Real Estate Quarterly Market Statistics 2008 Compared to 2009

By
Real Estate Agent with Platinum Real Estate Group

Homes sales in Cache County Utah have declined in the first quarter of this year compared to last. 

Single Family Homes Sold Cache County

1-1-08/4-30-08 = 282 Sold

1-1-09/4-30-09 = 208 Sold

There were 82 more homes that closed in Cache County Utah last year compared to this year. This number was to be expected, considering today's economy.  Homes for sale in Cache County Utah are selling, it's just a little more diffucult to get financing these days.

Average Sold Price Cache County

1-1-08/4-30-08 = $200,922

1-1-09/4-30-09 = $189,017

There is just over an $11,000 difference in sold price from this year and last. Homes in Cache Valley are selling at 97% of listing price, but the lower average price isn't necassarily from decreased home values. The drop is effected by the numeber of homes sold uner $200,000. With the first time home buyer tax credit, we have seen these homes sell more then in previous years, bringing down the average price.

 

Average Days On The Market Cache County

1-1-08/4-30-08 = 66

1-1-09/4-30-09 = 106

 

These numbers indicate it takes 40 days longer to sell your home in Cache County, Utah then it did last year at this time. One of the major differences from last year to this year is the time it takes to get financing. Normally you could close a deal in about a month, if not less. Now days, it's taking anywhere from 6-8 weeks to get a deal done. This is because of the time it takes to get your financing. Expecially homes over $200,000, the banks are checking every little detail, to make sure you qualify. 

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