Cache County Utah Real Estate Market Report - June 2011
Posted by Lisa Udy on Friday, July 29th, 2011 at 10:35am.The total amount of homes sold in Cache County for June 2011 was 110 homes which is an increase of 11.9% from May 2011 where there were only 86 total homes sold. In June 2010, there were a total of 119 homes sold, so we are down year over year by 7.5%. This is a little saddening, but keep in mind that we are up from the bottom in 2009 where there were only 99 homes sold in June. That's an increase in home sales from the bottom by 10%.
Average days on market for homes sold in June 2011 in Cache County was 169 days which is up from May by a total of 3.6%. This is a sign that home sales are still stagnant. Last year the average days on market for June 2010 was 119 days, which is a year over year increase of 29.6%. This is not a great statistic for a home seller.
Average sold priced was up nicely in June 2011 at $182,697 compared to May's $172,480, which is an increase of 5.6%. In June 2010 the average sold price for homes was $179,432, which is a year over year increase of 1.8%. Although average sold price is up, we have to keep in mind total sales are down, and the market is still struggling.
With the sold prices increasing in June, average price per square foot should also go up, and it did. At $78 a square foot, that's an increase of 7.7% from May, however it's still down year over year. In June 2010 the average price per square foot was $80, a decline of 2.5%.
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