Despite being in the throes of Covid 19, the Logan/Cache Valley Real Estate during the 2nd quarter of 2020 was little impacted! Home sales for the 2nd quarter 2020 were down just 2.54% from 2nd quarter 2019, and prices rose 5.49% (from an average sale price of $271,690 to a current average sale price of $286,598).
The number of homes listed was down 4.65%, while the demand is very much up…. People are flocking to the valley from places far & near. The pandemic has made working remotely easier than ever before, and many people are choosing to move to more rural locations such as ours -where a calmer lifestyle is possible. Of course our beautiful mountains and the recrecational opportunities they afford are also a draw. This combination of heightened demand and less availability has created a dearth in home inventory. There are 31% fewer homes on the market now than there were this time last year, and 33% more homes are under contract (demonstrating the demand).
It is a great time to sell -if you have a replacement property!
As far as the logistics of Real Estate right now, we endeavor to incorporate Covid 19 measures. We limit physical showings to critical persons (decision makers) only. Showing times cannot be overlapped, so that the number of people in a home at a set time is limited. Masks are encouraged (or mandated – depending on the seller’s wishes), shoe covers are worn and disinfecting wipes are used.
Life is “different” right now for everyone, but life goes on and housing is a primary need.
Please call me if you would like a home valuation or have any Real Estate needs.
Terri Sizemore 435-770-9407
Happy Independence Day!