Cache Valley/Logan Real Estate Market through September 2019

The Cache Valley Real Estate market continues to flourish!  Local statistics through the 3rd quarter of 2019 show home sales up almost 5% over 2018 with 496 sales through the 3rd quarter as compared to 475 last year! The inventory is even lower than last year – with an average 280 homes on the market compared to 315 at this time last year.

Home prices rose 7% , but that’s substantially less than the 13.5% yearly increase I reported in September 2018.  In September 2018 the average home sale price was $262,000.  Currently it is $279,000.  This appreciation is more in line with a normal growth rate.  In Cache Valley the average price per foot is $123 with new single level homes going for up to $200 per foot and older “fixers” around $80 per foot.

Interest rates, while expected to increase this year – actually dropped dramatically last month and are now hovering at a very reasonable 4.0-4.3% for a 30 year fixed mortgage.  Affordable interest rates have been a huge boon for home buyers and have created a flurry of mortgage refinances.

Cache Valley remains a very desirable place to live.  Growth management has been a top agenda for all of the municipalities in Cache Valley, and our local elections next month will help dictate the direction that growth is going to take.

Enjoy our beautiful Cache Valley Autumn!

 

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