Logan Utah Monthly Real Estate Market Report December 2010
Posted by Lisa Udy on Friday, January 7th, 2011 at 2:15pm.December 2010 Average Days On Market
Average days on market for December 2010 was 168 days. The average day for the entire year of 2010 was 124 days. As you can see as the year has gone along, days on market has gone up significantly. This is in due part the amount of inventory on the market. More inventory means longer market time. Days on market compared to 2008 is up quite a bit over the last couple years.
December 2010 Average Sold Price
Average sold price for a home sold in December was $163,072. Which is a dramatic increase from the first of the year and is second highest to only July. Sold homes in December this year is up from last year and 2008, however home prices are still declining.
December 2010 Total Sales
Total sales in December stayed about the same as 2008 and 2009 at 25 total homes sold. You can see a nice peek in the spring as the first time home buyer tax credit expired and a major dip in sales afterwards. The market started to normalize in December and the trend should continue through to January.
December 2010 Average Price Per Square Foot
Price per square foot of homes sold in December was way down at 74. The trend doesn't look good for housing prices into next year. The Green line shows the full year and ever since February, we have been in a downward slope. One reason for price per square foot decreasing so much is due in large part to the lack of new construction sales over the last year.
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