Logan Utah Real Estate Market Statistics For February 2010
In Logan Utah there are 259 currently active real estate listings on the Logan Utah MLS.
In Logan Utah there are currently 43 homes under contract.
In January of 2010 there were 17 Logan Utah homes that sold.
Those homes sold were on the market an average of 111 days and sold at an average price of $125,333 at an average of $75 a square foot.
Out of those 17 homes sold, all of them were sold for less then $200,000.
Compare To 2009
In January 2009 there were a total of 15 Logan Utah homes sold.
Those homes sold were on the market an average of 97 days and sold at an average price of $155,000 at an average of $81 a square foot.
Out of those 15 homes sold 10 were under $200,000 and 5 were sold over $200,000.
HOME SALES PER QUARTER LOGAN UTAH JANUARY 2009
Graph provided via Wasatch Front Regional Multiple Listing Service
As we can see from the graph as inventory rises in the spring and summer months in 2009, the number of homes sold goes up. However in the last quarter of 2009, we can see the median price range of homes sold go way down. Why is this? I would say it's because our market bottomed out, like most markets in the country. This may be an artificial bottoming out, however, as the first time home buyer tax credit was due to expire. After the credit expired home sales went way down in the last part of the year. We will see a similar trend as the extended first time buyer credit expires in June of this year.
It will be interesting to see how the next few months pan out with the new tax credit pushing buyers to get under contract by April 30th. You can expect to see a large jump in homes under contract and sold over the next 4 months, with a decline in sales coming in July and August. If you are interested in buying or selling in the Logan Utah real estate market, please feel free to contact my team for expert knowledge to help in all of your real estate needs.
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