Hyrum Utah Real Estate Market Report January 2010
In Hyrum Utah there are 61 currently active real estate listings on the Hyrum Utah MLS.
In Hyrum Utah there are currently 9 homes under contract.
In January of 2010 there was 1 Hyrum Utah home that sold.
This home was sold for $203,000.
Compare To 2009
In Januray 2009 there were a total of 4 Hyrum Utah homes sold.
Those homes sold were on the market an average of 45 days and sold at an average price of $154,750 at an average of $67 a square foot.
Out of those 4 homes sold, 3 were under $200,000 and 1 was sold over $200,000.
HOME SALES PER QUARTER HYURM UTAH JANUARY2005 DECEMBER 2009
This graph shows homes sold, median sold price, and the amount of inventory of Hyrum homes on the market from January 2005 to the end of 2009. This graph shows that compared to early 2005, the median price range of homes sold in Hyrum has steadily increased. Home sales were up in 2005 and have slowly declined over the last 4 years, with the exception of the 2nd and third quarters of last year.
The increase in home sales in Hyrum from last year can be attributed to the first time home buyer tax credit. The first quarter of last year had the lowest sales in the last five years, but with the new home buyer tax credit, the first quarter of this year should show some improvement.
The third quarter of this year is most likely going to show a major decline in Hyrum home sales, as with most homes in Cache Valley. The tax credits are set to expire in June, which is going to provide a market slump, just as we seen when the first credit was set to expire in November of 2009.
What's odd about this graph is when inventory goes up, the Hyrum median home price also goes up. Normally when inventory goes up, median price drops, and this graph is showing something different. I predict that the median home price in Hyrum is going to remain steady as the market starts to level out through 2010 and a slight dip in the fourth quarter before we start to see a percentage of appreciation.
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