Ogden Valley Sees Biggest Rise in November Property Price Stats
The real estate market continued to get better for sellers in November, particularly in the Ogden Valley. A few of the numbers were eye-popping. For the first time, the median sales price for single family homes in the Valley reached $1,000,000. Median price per sq. ft. for single family family went from $271.00 in October to $304.00 in November, and properties on the market (a significant factor in price increases) dropped to 20 from 26.
The median sales price of condos and townhomes in the Ogden Valley also took a dramatic jump, rising from $421,000 to $803,000, although there were only 2 sales. For the first time in recent memory, there are no condos or townhomes for sale in the Valley. This total lack of inventory should exert additional pressure on prices.
In the Mountain Green area, median sales price of single family homes increased to $723,000 from $593,000. Along the Ogden Bench, the median price per sq. ft. rose to $191.00 to from $174.00 in October.
A number of new, high-end residential developments have recently broken ground in the Valley. These involve lot sales, and the prices are also at the the high end of the surge in all real estate prices. Combined with the low inventory of existing homes, the dramatically rising cost of construction and builders now scheduling up to two years out – don’t expect to see prices of existing homes slow down over the coming months.
MARKET UPDATE – November 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 9 45 $1,000,000 $304.00
MGSF 4 6 48 $723,000 $178.00
OBSF 29 54 16 $369,000 $191.00
OVC/T 2 2 0 $803,000 $246.00
For comparative real estate statistics for all Utah ski resorts, click here.