Largest monthly jump; record price per sq. ft.
Reporting on the year-long upward trend in the local real estate market can begin to sound like the proverbial broken record, but May saw a truly dramatic increase to head-shaking highs in one statistical category for sales in the Ogden Valley. The median price per sq. ft. for single family homes sold reached $323.00 and $321.00 for condos and town homes. The previous high was $293.00 (April), and just over six months ago the median price per sq. ft. was routinely in the $150.00 – $180.00 range.
There were a few other notable changes in the stats – the vast majority of which are further indication of a hot market continuing to heat up. Single family home sales along the Ogden Bench also saw a record in price per sq. ft., at $193.00, up from $169.00 in April, and the median sales price climbed to $335,000, from $325,000. In the Mountain Green area, single family homes on the market increased from 6 to 10, indicating a desire of some homeowners to cash in on the excellent seller’s market.
The forecast going forward for the local market is nothing but rosy, as the contributing dynamics (lifestyle migration, etc.) and strong forecasts for the US economy remain unchanged.
MARKET UPDATE – May 2021 Real Estate Statistics
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 20 18 30 $880,000 $271.00
MGSF 3 6 4 $848,000 $199.00
OBSF 21 43 5 $325,000 $169.00
OVC/T 3 9 12 $453,000 $293.00
For comparative real estate statistics for all Utah ski resorts, click here.