Is The Logan Utah Real Estate Market Still A Buyers Market ...
All real estate markets are local, and the Logan Utah real estate market is no different. You may hear in the news that every market is a buyers market, great deals are to be had, and you should never offer full price on a property. I am here to tell you, you better think again.
Here's Why:
Over the last 3 weeks I have noticed big changes in the Logan real estate market. What I mean is, 3 weeks ago there were over 850 homes on the Logan Utah MLS. As I check the MLS today, there are only 710 properties that are active. In just 3 weeks our real estate market has shrunk by 140 properties.
This is an amazing statistic, it shows that the market has reared it's head again, and it's going into the sellers market mode. I think the reason for the drop in active listings, is people are realizing, overpriced homes aren't selling in this market. A lot of the properties that have been taken off the market are in, what I like to call, the "fake" real estate market.
What is the "fake" real estate market?
In real estate, there are always two markets at any given time. There is the market with homes that are priced to sell, are in great showing condition, and will sell. Then there is the "fake" real estate market. These homes are there to bloat the true market. They are overpriced, in poor condition, and the owners aren't really motivated to sell. These homes sit and sit and sit.
What does the "fake" market have to do with the sellers market?
As I said before, we have lost 140 properties in just 3 weeks. Most of these homes, were the homes in the "fake" real estate market. These homes were overpriced, in poor condition, and weren't going to sell anyways. By taking these homes off the market, the true market becomes more clear, and properties that are priced correctly are what's left. So, if you are a buyer looking for a home in the Logan Utah real estate market, and you find a home you really like, make sure you are offering close to asking price.
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