Ok, so I'm going to put you all to sleep with a few statistics about our local real estate world. Now really, stats are important; maybe not as much as working and prospecting and all that good stuff, but they are important to see how we are doing.

What I've done is compared the first 5 months of 2008 to the last 5 months of 2007.

Here we go!

Time Period: August 1, 2007 to December 31, 2007.

The biggest selling price range in the valley were the homes in the $120,000-220,000 range.  255 homes were sold during that 5 month time period.  Now compare that to the next $100K range...only 71 total homes were sold.  During that time the average price for a sold home was $197,927.  The average list price was $220,387 and the average sold price for condos was $114,229. 

Now compare that to January 1 -May 20, 2008.

The same 120-220K price range has the biggest number of sold homes at 215 (smaller than the previous time period but with the end of the month the number will be closer to 240.  At the next price range the number is once again smaller at 58.  The average price sold home is slightly higher at $199,343 and the average list price was 225,642.  The average sold condo rose higher to $126,000. 

Currently on the market there are 648 homes (not including mobile and manufactured homes) listed and 136 homes undercontract.

So what does this all mean to us?  Here's my take: The mid-priced home range has continued to be in high demand with buyers....which to me is typical of the economic make up of Cache Valley.  The higher priced range has slowed down somewhat but not by much.  Obviously the homes are keeping there values and actually increasing somewhat. 

I'm personally pretty excited to see the increase in condo values. The 2 my wife and I own have been great investments so far!

So everybody, agents and consumers alike:  The market is still going, despite what the rest of the nation sounds like :) Real Estate still is a great investment and there is a lot of money to be made for those who put the work into it!

Kaleb