Tuesday, December 29, 2009

Multi Family Home Sales in Logan Improving


Home Sales of Multi Family Homes in Logan, Duplexes, Triplexes, and Fourplexes are improving. They are definitely not outstanding, but over the last three months they have been up compared with the rest of the year.

There are currently 9 Duplexes for Sale in Logan, and 26 Tri and Fourplexes for Sale. This includes most of the Multi-Family properties for sale in Cache County. Outside of Logan there are three additional duplexes for sale found in Smithfield and Hyrum, and one additional fourplex for sale.

In the last year 15 Duplexes in Cache County have sold. With the current 12 on the market, this gives Cache County 9.6 months of inventory at the annual rate. But, during the last three months 5 Cache County Duplexes have sold. This is just 7.2 months of inventory at the past three month pace.

Inventory of tri and four-plexes has also seen improvement, but the numbers are still pretty dismal. Cache County currently has 27 tri/fourplex properties for sale. In the last year, just 13 of these properties have sold. This is more than 2 Years of inventory! But, over the last three months there have been 4 fourplexes sold, which lightens the blow a little bit and brings the active inventory down to 20 months.

Overall there still just isn't a lot of buyer activity for investment properties in Logan. By far, duplex purchases have been the most popular. It's a tough market to try and sell four-plexes.

You can view all the MLS listed Duplex's, Triplexes, and Fourplexes for sale in Logan here.

5 comments:

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ElroyTLanphear said...
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Anonymous said...

Nice post Alan. Always nice to hear about the Logan Utah Real Estate market and how it's doing.