There were a lot of buyers that made sure they bought during the first half of the year, that probably would have bought later in the year were it not for the $8,000 incentives. We’re now starting to see a pretty substantial decrease in home sales, especially among first time home buyers.

Cache County Residential Real Estate (Homes and Condos) Market

For single family houses in Cache County Utah, sales were up 8.76% from a year ago. There wasn’t really a price disparity between the percentage change of more expensive homes and less expensive homes. Cache Valley homes priced below $200,000 saw a sales increase of 8.76%, and Home’s priced above $200,000 saw an increase by 8.77%. Last year, homes priced above $200,000 saw a 41% decline compared with the first half of 2008.

Sales of Condos in Logan Utah were more than double last years numbers. 92 Condos and Townhouses sold this year compared with just 43 at this time last year. The average price of condos also declined, the average sold price this year of $124,100 is 10.66% less than last year. The median sales price of condos was just down by 5.14%.  Read More about Cache County Home Sales

While the quantity of homes that sold was up, prices were way down. The median price of homes sold in Cache County through the first half of the year was $156,000, down 8.18% compared with last years median price of $169,900. The average sold price was down slightly more at 8.54%.

Cache Valley Land

There is some improved news for Land Owners in Cache Valley, 2010 land sales are up 33% compared to the first six months of last year.
So there have been 48 land parcels sold in Cache County this year. 17 of these were residential lots less than half an acre. The median price of these residential lots was $56,000 and the average sales price was $53,517. There are 11 plots of land under contract right now.

While Cache Valley land sales are improved, it still has a long way to go to before the Logan real estate market is balanced and land owners can expect their properties to sell for what they want, and in a timely manner. There are currently 203 lots less than half acre currently for sale, and an additional 302 lots for sale on parcels bigger than .5 acres. At this sales pace, Cache County has about five years worth of active real estate inventory. More on Cache County Land Stats

Logan Multi Family Sales

Multi Family Home Sales in Cache County have been pretty slow through the first six months of the year. Just five Logan duplexes, and 8 four-plexes have sold thus far.  The duplex sales numbers are actually down from a year ago when six duplexes sold in the first six months of the year. Right now there are 15 duplexes for sale in the Logan area. The median list price of these duplexes is $155,000, with an average price of $167,000.  The duplexes that have sold this year have been very inexpensive with an average sales price of just $122,690.

Q4 Cache County Home Sales up 16%.