Logan Utah Real Estate Market Conditions: Short Sales Rising as Home Prices Declining
The number of short sale homes in Logan Utah continues to rise as home prices decline. Nationwide, the average median home sales price is now at 2002 levels, it's not that low in Logan, but over the last three months the median sales price of $156,250 is the lowest Cache County has seen since 2007. The current average list prices are the lowest they've been in even longer.Cache County currently has 64 short sale listings in Cache Valley, or 8.82% of the 726 Logan MLS listings.
This data isn't all of it, but looking back at the average Cache County home list price of nearly $270,000, just two years ago was staggering... The average sales price is more than $100,000 less than that. The fact that current list prices are still as high as they are is a good sign that prices will continue dropping for Cache Valley Real Estate. The number of short sale homes will likely keep rising as well.