Logan Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$112,000 |
| Average Condo Price
(Sold) |
$118,000 |
| Low Condo Price
(Sold) |
$65,900 |
| High Condo Price
(Sold) |
$179,000 |
| Number of Condos Sold |
100 |
| Average Days on Market Until Sold |
40 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
56% |
________________________________________________________
|
Demand
|
Logan,
UT condo
demand is good.
Condos in Logan
average only 40 days
listed on the market
until sold. That
figure is an average
of 17 days less than the
state average. Over the
past year, 100 condos
sold in Logan
compared with 116
total for
Cache County.
|
|
Supply
|
There
are currently 61 condos
on the market in
Logan. This
constitutes a good
supply of
condos for the Logan
market, particularly
if you are looking
for a townhouse.
Townhouses represent
90% of the current
condo listings. The average
number of days on
market for current
listings is 106
days.
There are 55 townhouses
currently listed.
Current condo
listings range in
price from $64,900
to $189,900.
|
|
Price
|
The average
residential sold
price in Logan has
increased by $10,989
so far this year
compared with the
average price sold
for the first half
of 2007. The Logan
median condo sold
price of $112,00 is
the lowest in this
Utah condo market
study. Logan
condos and
townhouses have a
median price of $52,000
less than the
state median
condo price.
|
|
Financing
|
Conventional
loans account for
over 60% of home
financing in
Logan.
Cash purchases
represent 6.6% of the
transactions. FHA
loans are a
whopping 28.5%.
|
|
Conclusion
|
The
Logan condo
market is one of the
strongest in the
state. Prices are
low and continue to
increase thereby
protecting the
investment of the
buyer. A good
selection is
available.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Logan Condos
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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.com
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