March Home sales in Cache County were nothing spectacular. The 69 residential homes sold represent only a 1.45% increase compared with last month, and a slight decline from March 2013. Where things are starting to pick up is with the number of properties that are currently under contract.
One month ago there were 119 pending home sales. Right now there are 174, an increase of 32%. Most of the increase of real estate activity can likely be attributed the seasonal real estate cycle. The fact is, people are just more likely to buy real estate during the warmer months than they are during winter. But, even accounting for the seasonal increase in real estate activity, the current number of pending home sales is actually pretty impressive. The last time there were this many residential properties under contract was at the height of the housing boom.
The current spike in real estate activity represents just one month, but if this trend continues, it will likely be a very hot year for Logan Utah real estate.