Utah Real Estate Market Conditions

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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