Month: November 2020

The real estate market again remained strong through October in the Ogden Valley, Mountain Green and Ogden Bench areas, with only a few small percentage drops in sales statistics from what has been an exceedingly hot market through the summer and early fall.  However, there is significant uncertainty as the winter ski season approaches…around how the dramatic Covid increases in Utah and resulting  resort restrictions could affect visitors, skier days, and the real estate market.

Traditionally, people come to ski at one or more of the Valley resorts, like what they see, and decide to look at property.  They may start investigating the market while they are here, or after they leave.  A lot of transactions that occur in the spring or summer result from interest and research that started during ski season.

This season could bring two forces acting on the market from different directions.  Due to Covid, there could be fewer out-of-town, out-of-state visitors who become interested in real estate…but at the same time the trend toward people wanting to own property in less congested settings could positively impact the market.

MARKET UPDATE – October 2020

OVSF- Ogden Valley Singe Family; MGSF – Mountain Green Single Family; OBSF – Ogden Bench Single Family; OV C/T – Ogden Valley Condominiums & Townhomes

Prop. for Sale   Prop. Sold   Med. Days on Mkt.   Med. Price   Med. Sq. Ft.

OVSF          38                    14                      50                       $692,000       $198.00

MGSF          7                       5                        5                        $470,000       $148.00

OBSF          23                    49                       9                       $285,000       $146.00

OVC/T          4                     10                     89                       $353,000       $233.00

For comparative real estate statistics for all Utah ski resorts,  click here.

   

The real estate market remained on an upward trend in the Ogden Valley, Mountain Green and the Ogden Bench in August.

One of the issues contributing to the continued strong market is a lack of inventory.  An example – the Ogden Valley had only nine condos and town homes for sale in early September.

Other notable numbers rising in August were sales of single family homes in the Ogden Valley that jumped from 19 to 30, median sales price that went to  $662,000 from $575,000, and medial price per sq. ft. that was up to $181.00 from $179.00.  Condo and town home sales in the Valley went from 4 units to 11 units.

Median price per sq. ft. for single family home sales in the Mountain Green area was $159.99, up from $139.00.  Days on the market dropped from 34 to 11 – again, evidence of a lack of inventory.  Along the Ogden Bench, median price per sq. ft. for single family homes was $136.00 up from $130.00.

With Covid still a significant threat and constantly in the news, property in areas without the congestion of major cities are attracting a lot of interest – in particular the Ogden Valley.  There is widespread thought that even after the pandemic subsides, many more individuals will be able to work from remote locations, as the efficiency and cost savings have become obvious.  If that is the case, the strong real estate market in our area would have an additional stimulus well into the future.

MARKET UPDATE – September 2020

OVSF- Ogden Valley Singe Family; MGSF – Mountain Green Single Family; OBSF – Ogden Bench Single Family; OV C/T – Ogden Valley Condominiums & Townhomes

Prop. for Sale   Prop. Sold   Med. Days on Mkt.   Med. Price   Med. Sq. Ft.

OVSF          37                    18                      40                       $662,000       $231.00

MGSF          9                     16                      19                        $636,000       $155.00

OBSF          24                    47                        6                       $305,000       $148.00

OVC/T          6                     14                     49                       $437,000       $239.00

For comparative real estate statistics for all Utah ski resorts,  click here.