A question I have been getting daily from friends and people I meet around town is the classic "How's the market?" Normally my response is the purposely vague answer of "great!"
The real estate market in Logan and Cache Valley as a whole is in a unique position right now. Homes that are competitively priced are selling very quickly, sometimes in as little as one day. Other homes that are either priced too high or need too much work done to them will sit for a bit more time, but those are even eventually snatched up after a reasonable price is negotiated. Translation: It's a pretty good time to sell right now.
Even with homes selling much more quickly, we haven't seen prices make too big of a jump. They are indeed moving upward, but appraisers are reining that in a bit and are keeping things reasonable. Extremely low interest rates are also keeping buyers in homes that they can afford. A $5-10k rise in the purchase price of a home has a similar payment of a lower price at previous interest rates, so it's not being felt by home buyers yet. Translation: It's a pretty good time to buy as well.
Investors and renters seem to have the hardest time finding good options in the current market. There are still plenty of ways to invest and make money, but the traditional under priced duplex or triplex is just not really found on the market right now. I'm getting many calls every week from renters looking for a place to live and it is extremely difficult to find anything reasonable at the moment. If you are able to continue renting at your current place, or you are in a position where you can buy, I would suggest doing just that.
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