Real Estate Update for Cache and Box Elder County |
Some portions of Utah are experiencing dropping prices in the double digits. These areas have literally years worth of unsold inventory in some price ranges. In the Cache Valley and Box Elder County Real Estate markets, the housing forecast is somewhat decent.
Box Elder Coundy doesn't have a large population, or a lot of real estate activity, people are still buying and selling homes in Box Elder County. More than 70% of Box Elder real estate occurs in Brigham City and Tremonton areas.
Right now 306 residential homes are for sale in Box Elder County. Most of these are single family homes, but 11 are condominiums. The ratio of homes sold vs. homes on the market for Box Elder County is really good for Utah right now. In the last year, 540 homes have sold. 205 of these were in Brigham City. Homes in Box Elder County are very affordable. The median price of homes sold in the last year is just $156,500 and the average house price is $170,000.
Cache Valley is another market that isn't too shaby. Over the last year 1105 homes have sold. The average price of homes sold over the past year hasn't actually declined compared towards the previous year. The median price of these sold homes is $170,000 and average sold price was $191,450. Currently on the market, there are about 770 residential listings for the Logan Real Estate market.
The key to the successful real estate market in these areas is that they never appreciated too fast. The median home prices are still affordable for most areas. Depending on what happens with some government intervention and stimulous plans, the Utah Real Estate Market could return back to a buyers market at the some time next year.
