Cache County Real Estate Market Report - April 2011
Posted by Lisa Udy on Thursday, May 5th, 2011 at 1:53pm.Home sales in Cache County declined in April compared to March of 2011 with only 65 homes sold compared to 75 in the previous month. Cache County home sales are down by 13.4% in April 2011 compared to March 2011. Normally home sales increase in April after March, but that was not the case this year. If you would like to see the full Cache County market conditions report for March of 2011, you can follow that link.
The average sold price for homes sold in Cache County April 2011 took a large dip at just $161,337 as compared to March with a number of $174,651. Average price hasn't been this low since January of 2010, which was one of the worst months in home sales for Cache County since the late 1990's. Average sold price declined 7.3% compared to last month, which is quite significant considering home sales usually rise in April from March.
If there's a positive in April home sales in Cache County, it's the fact that the homes didn't sit on the market quite as long. With only 127 days on market for the average home sold compared to 144 days in March, days on market declined by 11.9%. If we compare to April of 2010, Cache County homes took an average of 104 days to sell.
Price per square foot has been on a roller coaster in Cache County over the last year. With the average of $74 a square foot for April compared to March's $77, the market declined by 3.9%. Not a terrble number which is great for sellers. Average price per square foot is down from $82 in April 2010 by 9.8%. Home prices in Cache Valley are till declining and we can probably expect that trend to continue through 2011.
March of 2011 was a good month for Cache County but it slipped back in April. With home sales down and average prices down, hopefully May can continue an upward trend. We sure need it here for home sellers as it's hard to sell a home in a declining market. For home buyers home prices remain low with interest rates still below 5%, homes in Cache County are getting more affordable everyday. If you have any questions about the Cache County real estate market, please feel free to contact us as we would love to help.
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