A surprisingly hot real estate market over the past eight months took perhaps its largest leap to date in certain geographical areas and statistical categories in November. At this point there doesn’t appear to be a slow-down in sight.
The Ogden Valley led the way in eye-popping statistical increases. The median price of single family homes sold went to $717,000 from $692,000, while median price per sq. ft. increased from $198.00 to $213.00. Median price for condos and townhomes sold in the Valley jumped at an even higher percentage – from $353,000 to $431,000. And price per sq. ft. went from $233.00 to $256.00.
The Mountain Green single family market saw sales increase from five to eight in November, and the median price per sq. ft. rise to $170.00 from $148.00. Along the Ogden Bench, the median sales price reached $335,000 from $285,000, and the price per sq. ft. went to $150.00 from $146.00.
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 will likely bring two forces impacting 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 – November 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 41 17 60 $717,000 $213.00
MGSF 7 8 6 $437,000 $170.00
OBSF 20 45 5 $335,000 $150.00
OVC/T 5 10 68 $431,000 $256.00
For comparative real estate statistics for all Utah ski resorts, click here.