Johnnie Rosser with another Cache Valley Quarterly Real Estate Value Report

This is Johnnie Rosser @ Equity Real Estate with another quarterly update for Cache Valley Real Estate. Cache County saw prices increase over 66% from the beginning of 2020 to May of 2022. Home values peaked in the 2rd quarter of 2022 with a median price of $450,000. In the three months after, there was a decrease of about 7%, when the Federal Reserve raised interest rates. But, for the last year and a half, the Median purchase price has leveled off and remained steady. The 3rd and 4th quarters of 2023 were a little lower, but the 1st quarter of 2024 saw prices up to the highest in 2 years. The Median sold price in Cache Valley in now similar to where home values were at the end of 2021. I expect prices to continue to increase slowly through the rest of 2024. It will be a while before we see values back to the peak of 2022. If you have any questions, or would like to see what home values have done in certain towns (Smithfield, Logan, ect), or types (Single family, Townhomes, ect), Just ask. I would be happy to get you that information as well.Thanks,Johnnie RosserEquity Real Estate