Posted by on Oct 15th, 2010 in Uncategorized | 0 comments
The winter months are typically the slowest months for home selling. But which homes will have the hardest time selling? Which type of Logan homes will have the easiest time selling?
For the most part, the more expensive homes will have the most competition if buyer behavior is similar to the way it has been in the past year. Homes priced above half a million have been nearly impossible to sell. There are currently 28 Cache Valley Homes for sale
priced above $500,000, but only 5 in this range that sold in the last 365 days. Last year, homes priced between $400,000 and $500,000 had a better chance of selling than those priced between $300,000 and $400,000. Homes priced between $120,000 and $140,000 sold best.
One good metric for determining the health of the market is by determining months of inventory. The months of inventory are determined by comparing the actual home sales over the past year, with the number of homes in each price range that are actually for sale. So, if no new homes were listed for sale, it would take this many months for all of the existing properties to sell.
The graph below shows the months of inventory broken down by different price ranges. Logan Utah Real Estate
has more than a years worth of inventory for homes priced above $200,000. Homes priced between $120,000 and $140,000 have just 5.21 months of inventory. I excluded the over $500,000 homes from the graph, because they currently have 67 months of active inventory.
via Logan Utah Real Estate Market Conditions: What Price Range is The Hardest To Sell Right Now?.