There was some encouraging news in Cache Valley‘s February Real Estate Sales! The total number of homes sold was 58 – up 41% from the 41 sold last month, and up 40% from February 2011 sales. Although 12 of the sales were foreclosures and 4 were short sales, the average price per foot was still just under $72 – not a decline. Looking closely at the sales information, I was excited to see that 20 properties sold in less than 60 days – and only 3 of the 20 were foreclosure sales. All of the homes that had rapid sales were either in stellar condition or priced very reasonably (or both).
It is clear that while it is still a buyers market, there are buyers who are willing to act rapidly and know when they see a good value. It was also interesting that 8 of the sales were cash purchases – and not on just the lower priced properties!
The number of properties on market in Cache Valley remains below 600 – lower than average for this time of year – which bodes well for sellers.
For buyers it’s all good news – all indicators are still very favorable for buying: Interest rates remain extremely low, home prices are still very low and lenders say they are loosening some guidelines….
Could real estate be on an upwards swing?
If you need any help with any property sale or purchase, please don’t hesitate to call
- Short Sales in layman’s terms (homescachevalley.com)
- How’s The Market? (homescachevalley.wordpress.com)
- How’s The Market? (homescachevalley.com)
- How Much Money Down Do I Need To Purchase A Home? (homescachevalley.com)
- Winter weather making its way across Utah (fox13now.com)
- Foreclosures v. the Rest of the Market (lanebailey.com)
- Foreclosures on the Courthouse Steps – Gainesville FL Real Estate (gatorrealtors.wordpress.com)