Cache County Real Estate Market Report - March 2011
Posted by Lisa Udy on Monday, April 18th, 2011 at 3:44pm.Home sales are way up in March 2011 compared to February in Cache County, but they are down form total sales of last year. This year there were a total of 75 homes sold while last year there were 82, a decline in home sales of 8.6%. You can see the February 2011 Cache County real estate market report here.
Average sold price for Cache county homes increased slightly from February to March in 2011 by 2.1%. In March of 2010 the average sold price was $172,396 meaning in 2011 home prices increased slighly by 1.3%. So although home sales are down year over year, prices are up slightly.
Average days on market for Cache County homes is still way up compared to two years ago in 2009 where it was only 117 days. In March of 2010 DOM was 157 while this year it was at 144 days. So, homes are taking less time to sell than in 2010 but the market is still struggling compared to 2009.
Average price per square foot of homes sold in March 2011 is up by 5.2% from February, yet it's still down from last year where the avg price was $79. So although average price of homes sold is up slightly, the price per square foot of homes sold is still down meaning homes are cheaper.
March was a good month for real estate in Cache County even though home sales were down, they aren't completely terrible. Also, keep in mind, home sales are skewed over the next couple of months due to the home buyer tax credit of last year. So, all in all, the market in Cache County is rather healthly. As a buyer you can be happy to know that sellers are adjusting to pricing trends. As a seller, you can breathe a little easier knowing that homes are selling at reasonable prices. If you have questions about the real estate market in Cache County, we would love to help.
Related Links
Blog Tags
Print
ShareBe the first to comment on this blog entry!
