Cache Valley/Logan Real Estate 3rd quarter 2017

The Cache Valley Real Estate Market seems to be leveling off/mellowing out a bit.  The rapid acceleration in home prices is tapering, and the average $ per foot in September ($101) actually decreased slightly over August.  That average price per foot number is 3.5% higher than September of 2016 though, and reflects the historical rate of home appreciation in a normal market.

Total home sales in Cache Valley for the 3rd quarter was 441 – a figure 15% lower than 3rd quarter of 2016, but the same as 3rd quarter 2014 & 2015; and once again- a good, typical figure for our area.

The average days on market figure (DOM) of 42 for September is excellent (homes are selling), but lower than the previous 2 months.  The average home sales price rose 1% – to $228,000 for our valley.

Home sellers attained an average 99% of their list price in September – a figure not previously achieved in the 8 years I’ve been a Realtor! ( In the years 2010 through 2014 that figure was sometimes as low as 85%).

The state of equilibrium in home listings/sales is being maintained, and the current number of homes on the market is 275.  Affordability in Cache Valley is still great.  Prime interest rates are still around an amazing 4%, and the $101 average price per foot is excellent compared to most other desirable places.

Our Cache Valley remains a safe, beautiful place to live with low unemployment and oodles of outdoor recreation opportunities!

Enjoy the beauty of autumn!

 

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