With home prices declining, and more people who bought during the housing boom that need to sell now, the number of short sale homes in Logan, UT is rising.

Over the last month, the percentage of Cache Valley Short Sales rose by 16.4%. There are now 61 homes on the MLS listed as "short sales." As a percentage of total listings, the number of short sale listings has risen to 8.38% of all residential listings.

If more homes don't start selling, and if home prices don't start going up soon the number of foreclosures in Cache Valley will also see increases in the near future.

These short sale percentages are still much less than other parts of Utah where one in 4 listed homes are short sales.

December was the best month for real estate in Davis County Utah since September. Reported on the Utah MLS, 207 residential homes have been reported as sold. This is up by almost 6% from November home sales, but is down about 5% from home sales during December of last year.

While sales were up, the number of homes for sale in Davis County declined. There are currently 2050 residential homes for sale, down by more than 125 compared with last month. At Decembers sales pace, this gives Davis County Real Estate less than 10 months of active inventory.

Davis County Home prices continue dropping. The current median list price of $204,900 is down $5,000 from a month ago. The average list price dropped from $254,418 a month ago to its current average of $248,803.

While the price homes are offered for sale is down, the median sales price of $196,500 in December was actually slightly higher than the median sales price of November.

January home sales in Davis County look as if they will be down, but the year over year sales should be improved from January of 2010. There are currently 301 residential listings under contract.

While Davis County Real Estate inventory is down compared with last month, the bad news is that it is up compared with January of last year. Home sales at this time last year were still affected by the home buying tax credits, so those numbers might have been artificially low. Trends are headed in the right direction though, and we might see the market bottom soon.

Prices for Ogden Utah Real Estate keep going down. The average list price dropped more than $4,000 over the last month from $217,915 to $213,767. The median list price dropped by almost $3,000 and is now down to $156,950. Just two and a half years ago the median list price of Weber County Homes was 30% higher than it is now.

While list prices continue to plummet, average sales prices of Weber Real Estate have actually risen over the last few months. In December, the average sales price was $176,549. This is up 3.67% from the average sales price in November, and up by more than 5% from the average price a year ago. This is largely result of high numbers of high end homes that have sold, bringing the averages up; real estate values in Weber County aren’t actually rising. The December median sales price of $148,925 was down from last month, and almost even with December sales of 2009.

December home sales were on par with November, but were down 6.74% annually from sales in December of 2009.

January home sales are expected to be down from December, but up compared with January of 2010. There are currently 220 residential homes on the MLS that are under contract.

The positive news for Weber County Real Estate is that it looks like January will be off to a better start than January sales last year. The bad news is that there is still almost a month worth of inventory, and the trend of falling home prices will likely continue.

Home Sales in Box Elder County were improved in 2010 compared with 2009. Total residential home sales were up by 5.7%; 409 MLS homes sold in 2010 compared with 386 in 2009.

While home sales were up, prices were down. More Box Elder County homes sold, but they had a lower price tag than homes over the past couple years. The average sales price last year for homes in Box Elder County was $155,517. In 2009 the average sales price was $159,110, and in 2008 the Box Elder County Homes sold for an average of $169,369. While average sales price was down, the median sales price actually increased slightly from $144,500 in 2009 to $145,000 last year.

It’s a great time to purchase Box Elder County Real Estate. Mortgage Interest rates are still incredibly low, and prices are down. Click this link to search Homes for Sale in Box Elder County Utah now.

Tags: 2010, home sales, prices, stats

This entry was posted on Thursday, January 6th, 2011 at 5:16 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Edit this entry.

In 2009 the Box Elder County market looked completely dismal. Inventory was at unhealthily high levels. The state of real estate in Box Elder is better now than it was at this time a year ago.

There is some good news for the Logan Real Estate market. Home sales were actually improved during December. It was the best month for home sales since August as 64 MLS homes have been reported sold so far.

 

 

Some other good news is that inventory is also substantially down. At Decembers home sales pace the 716 active listings represent just over 11 months of active inventory. This inventory is higher than at this time a year ago when there were 687 Cache Valley Homes for Sale.

 

Real Estate prices in Cache County, Utah continue to decline. The current average list price of homes for sale is $216,103, with a median list price at $179,900. During January of last year the average list price was $238,338, and the median list price was $189,250.

January of 2010 was one of the worst single months for home sales ever. Expected home sales for this month will likely be better than those of a year ago, but should be down from December. There are currently just 70 under contract listings in Cache County at the moment. This is 23 less pending homes than Cache Valley had at this time a month ago.

 

 

 

December home sales were actually improved, and inventory is down. Those are two of the main things that need to happen for the Logan UT Real Estate market to really improve. If these trends continue, the Logan housing market could be balanced by summer.