As February goes, it was a good one for real estate in Cache County. We saw a 17.65% increase in home sales compared with February of last year and a 28% increase compared with January. February is traditionally the slowest month for Cache County real estate, so the fact that the numbers were this good bodes well for 2014.
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While the home sales during February were up, there was also a good number of more expensive homes that sold. The average price of homes sold was $194,464 and the median price was $162,500.
The number of homes for sale is on the rise as spring enters. Right now there are 609 residential homes for sale and 119 properties under contract. We have 21 more homes listed right now than one month ago and 78 more properties listed than March of last year. Home buyers now have more options to choose from, and real estate prices are remaining steady.
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At February’s home sales rate, Cache County currently has about 9 months of inventory. It looks as if home sales during March will be slightly better than they were during February.
