I had a little time on my hands today and wanted to compare the past couple of years of the Cache County Real Estate Market......so here we go!
During this time there were 1611 new single family / condo listings with the average listing price of a new listing at $225,010. There were 850 single family residences (not condos) closed at the point in the year for 2007. The average price of a sold home was $199,322.
There were also 100 condos sold with an average price of $109,413.
The average Days on Market (Time from listing date to the date an offer was accepted) was 63 days.
So far in 2008 there have been 1660 new listings in Cache County with the average new listing price at $226,994. Single family residence sales are at 694 with the average sales price at $200,189.
For condos there have been 80 sales at an average price of $130,903.
The average Days on Market has been 70 days.
Summary: Sales are slightly down from last year (surprise, surprise) with 950 total homes sold by Sept. 6, 2007 compared to 774 so far in 2008. Days on Market has increased slightly as well as the number of new listings.
One bright note is the increase in appreciation for condos in 2008 compared to 2007. Single family homes are slightly up but not by much.
Hopefully this Winter will stay steady and we will see a good increase into the Spring!
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