2008 is nearly over. The Cache Valley Real Estate Market has shifted, but homes are still being bought and sold. These numbers are not official but they're probably pretty accurate. Overall, single family home sales in Cache County were down by about 18% compared to 2007, and the average price was down by 3.8%.
Here is a chart showing the comparison of Cache Valley Homes sold in 2007, 2008 (thus far), and active Cache Valley Home Listings. It also shows how different price ranges are selling, and the months of inventory for each price range. This data can help Cache Valley Sellers to realize the state of the market we're in, which price ranges are steadily selling, and which are struggling the most.
The $180,000 to $220,000 price range actually had an increase of sales this year. The Logan Real Estate market is considered "balanced" between $140,000 and $220,000, where there is currently six months worth of active inventory.
Surprisingly, the below $100,000 market has been very slow this year. This market segment has 18 months of active inventory, and sales were down by 46%. This could be in large part because the demand for fixer uppers and investment properties has gone down substantially with more difficult financing guidelines. It is a buyers market for anything priced above $220,000, and a heavy buyers market for listings priced above $350,000. There weren't any single family homes sold in Cache County priced above $750,000 even though there are currently 21 on the market.
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