With a continuing, strong, upward trend through January in local real estate sales statistics, it’s becoming a good bet that underlying market dynamics are strong and might well continue. The current, powerful seller’s market could be with us for some time.
Covid has caused great interest in owning property in less congested areas, and the fact many folks can now work remotely makes the decision to buy easier than ever. Although many in the workforce are seriously hurting as a result of the Covid-inspired recession, it is also true that those still working in high paying jobs or with selected investments, have done well financially over the past twelve months. The latter group are the primary buyers of resort real estate.
Properties sold in the Ogden Valley once more showed some dramatic increases in January. Media sales price for single family homes jumped from $790,000 to $932,000, and median price per sq. ft. increased from $239.00 to $248.00. Sales of condo and townhomes in the Valley increased to 13 units from 8, and median sales price was $423,000, up from $261,000. Single family homes median sales price in the Mountain Green area jumped to $870,000 from $700,000 and price per sq. ft. increased to $238.00 from $171.00. Median sales price for single family home along the Ogden Bench was $305,000, up from $290,000, and median price per sq. ft. $159.00, up from $157.00.
MARKET UPDATE – January 2021
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 24 11 179 $932,000 $248.00
MGSF 3 2 39 $870,000 $238.00
OBSF 11 33 8 $305,000 $159.00
OVC/T 5 13 3 $423,000 $263.00
For comparative real estate statistics for all Utah ski resorts, click here.
