Another full month into the Covid 19 pandemic, its’ impact on the local real estate market is noticeable but not dramatic. There are numerous properties being listed and sold, and the numbers in these two categories remained fairly constant from March through April. The biggest changes are the decreases in most areas in days on the market and price per sq. ft.
The drop in days on the market, from 134 to 86 for Ogden Valley single family homes, 90 to 4 days for condos and townhomes in the Valley, 49 days to 14 for Mountain Green single family, and 27 days to 14 for single family homes along the Ogden Bench – indicates the recent trend of limited inventory is continuing. And there are buyers during this very different business environment. A number of multiple-offer dealswere reported in April.
The drop in price per sq. ft. across three of the four geographical areas covered in the statistics below could indicate a market with a softening price curve, but it will take at least another month of statistics before any meaningful conclusion can be reached. Ogden Valley single family homes price per sq. ft. dropped from $185.00 in March to $171.00 in April. Condos and town homes in the Valley dropped from $250.00 to $225.00, and single family homes price per sq. ft. on the Ogden Bench dropped from $138.00 to $128.00.
I continue to offer full real estate services to my clients and prospective clients. I wear a mask, gloves and practice social distancing at all showings, as much for your protection as mine.
MARKET UPDATE – April 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 62 8 86 $552,000 $171.00
MGSF 24 9 14 $405,000 $144.00
OBSF 50 43 18 $280,000 $128.00
OVC/T 35 3 4 $224,000 $225.00
For comparative real estate statistics for all Utah ski resorts, click here.