In 2007 there were only 9 income properties sold in Logan Utah. Income property meaning legal duplex, triplex or 4-plex. The average price was $205,162.
So far this year we have seen 25 properties sold and the average price is slightly higher at $207,266. Obviously the demand for these types of properties has gone up but why hasn't the price?
My belief is that in the Spring-Fall of 2005 there was such a demand for these properties that prices jumped substantially faster than they should have. They have taken the past few years to catch correct and now the demand is picking back up again. I think that the pricing will go up more in the Spring as the market picks up again and demand is even higher.
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