The first half of 2008 shows that although home sales were down 21% in Cache County, the actual sold price rose 3.5% compared to the first 6 months of 2007.
The average price of sold homes is actually up 3.5% compared to the first six months of ‘07. So far the real estate market in Cache County was a little slower than it was last year as just 470 homes were sold compared to 588 homes sold January-June of last year.
The median sold price so far this year is $179,375. In my opinion, home prices are not actually up, just the average price of homes sold. There are many more expensive homes on the market than beaters. The average list price of homes in Cache County is $272,000. These aren’t selling fast, but when the expensive homes sell it does drive the average sold price up. From my knowledge of the local market, if you bought a home at the end of last summer you could probably now get a slightly nicer home for the same price.
July 2, 2008 at 7:17 pm
Same story all across the state. Many cheer the stats and forget that it’s just the average price of homes sold. As you said you get much more house for your money now. Not just in Cache county.