Preston Currently has 110 active residential home listings. In the last year, there were just 78 homes that sold. This gives Franklin County Idaho Real Estate almost 17 months of active inventory which is a little bit higher than the current active inventory in Cache Valley Utah. The best ever year for home sales on record in Preston was 2007 when 112 homes sold. Even if times returned to the glorious housing boom, that’s still a years worth of active inventory.
The homes that are listed for sale have price tags substantially higher than those that have ever sold. The current median list price is $175,000. The median sold price over the last year was just $137,000. The highest the annual median sales price has ever been was just $147,000, and that was in 2009.
Essentially, this means that unless some new market force comes that makes Preston a more desirable location to live, home prices will be dropping for Franklin Idaho Real Estate.
