Posted by on Jun 14th, 2010 in Uncategorized | 0 comments
Right now there are 854 residential homes for sale in Cache County Utah. By my records, this is the highest amount of Real Estate Inventory Cache County has ever had. The previous high I ever noted was 850 in July of last year.
So what does this mean?
In basic economics, it simply means that there is more supply than demand. When this happens, prices will drop. What it means overall is that it is not a good time to try and sell Logan Utah Real Estate
. There will still be hundreds of Cache County homes that can and will sell, but the homes that do sell
will be those that offer the best value
. If you NEED to sell your home you want to make sure you have it priced low, and have it clean and presentable. Showings will be down, so those showings you get, you need to make count. If you don’t NEED to sell, you might be better off by just taking your home off the market and learn to enjoy where you now live.
If you need to relocate, it’s better to drastically drop the price on your house now rather than to leave it vacant for months or years. Doing so will reduce the overall loss. The high inventory, especially among the high end homes also means that many sellers may want to consider lease options or renting their homes out if the losses that need to be taken will be too much.
There are other variables, other factors of course, and with real estate what really matters is the amount of competition in a particular price range or area. Next month I plan to do my break down by price ranges, and by home sizes for the amount of real estate inventory. That will give us a better idea of which type of Cache Valley homes for sale
have most saturated the market.
via Logan Utah Real Estate: Record HIGH number of Home Listings in Cache County.
If you’re looking to buy Logan real estate, the high inventory numbers represent a good thing. This means that you should have a large selection of available homes to choose from. It also means you have some negotiating power as you likely won’t have too much competition from other home buyers.