These conversations are always interesting. While it shouldn't come as a big surprise that prices vary across the country, at times it can be shocking to hear the differences!
I picked up my '49 3800 last summer near Detroit for $3k. Fair amount of expected rust. Fenders, lower cowls, parts of floorboard, lower door pillars, tailgate, cab corners etc. Not a complete rust bucket. But, sheetmetal replacement or repair needed just about everywhere.
The previous owner had done a fair amount of work coating the frame with a POR15-like paint, replaced the bed, replaced the original engine with a 1960 235, replaced the gas tank and bought about every seal/weatherstrip from LMC and refurbed the gauges/speedo. The truck ran and drove on/off the trailer to get it home.
I know this is the usual midwest view that south/southwest people are probably tired of hearing. But, from your description, the asking price wasn't terrible at all for a running/driving truck with body in that shape. At least, it would be reasonable around here!