Utah Real Estate Market Conditions

There will be an Open House in Logan for this home this Saturday between 1:00 and 3:00. Contact Toni Dorigatti 881-3587 for more details.

This two story Logan home has only been lived in for a year. It has two toned paint and ceiling fans in nearly every room. The floorplan is fantastic with a formal living room, two family rooms, 4 bedrooms, and two and a half bathrooms. See more pictures of this Logan Utah Home for Sale.

It looks like the booming Nibley Utah real estate market has slowed down. There are currently 72 MLS homes for sale in Nibley. In the last year, only 74 listings sold. If home sales continue at the pace they've been for the last year, it will take almost a full year to sell all the existing housing inventory if no new properties were listed.

The fact is, in a town like Nibley there will only be more listings.  The other dilema is that the price of the active listings is more than the price of the homes that have sold. The current active median list price is $237k the median sold price was $204k.

Nibley is a nice area, and there are many nice homes for sale. The only problem is that there are too many of them. It's a buyers market in Nibley and there is a good chance you can get quite the deal by buying from a motivated seller.

After looking at August home sales numbers, it looks like the Cache County real estate market won't fully correct this year. August home sales were pretty dismal and were down 30% from last year. There is still lots of real estate inventory/competition from other sellers. In August only 100 listed residential homes sold in Cache County. This puts August sales down nearly 30% from last years numbers and down 37% from 2006 August sales numbers. Many of the high end homes are slashing prices and are starting to sell. This has raised the median and average sales price. Overall prices are not up, but August had the highest ever average sales price at $204,730. The median sold price was $186,200 and the homes that were on the market were on for an average of 95 days. Currently there are 648 single family home listings and 740 total residential listings on the market. This number is gradually declining, but there are still too many homes for sale in Cache County.

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