Lack of Inventory Biggest Real Estate News at Start of 2022
MARKET UPDATE – December 2021 Real Estate Statistics
Real Estate inventory has been low for months in the Ogden Valley, with the accompanying rise in prices a result. But as we ring in 2022, there has been a further, dramatic reduction.
Currently, there are only 11 single family homes and 2 condos for sale in all of the Ogden Valley. That is roughly half of what was on the market at the end of November. Along the Ogden Bench, available inventory dropped from 29 to 19.
A further escalation in pressure on prices is a reasonable conclusion considering the extremely low inventory. The median price per sq. ft. of condos and townhomes in the Valley jumped to $394.00 from $246.00 in November, while the price per sq. ft. for single family homes in the Mountain Green area was at $318.00, up from $178.00.
The low number of sales can undoubtedly skew the median prices, but it’s safe to say the seller’s market continues. And there are good odds it may well get better!
MARKET UPDATE – December 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 11 16 9 $953,000 $283.00
MGSF 5 4 24 $758,000 $318.00
OBSF 19 43 13 $350,000 $201.00
OVC/T 2 2 11 $408,000 $394.00
For comparative real estate statistics for all Utah ski resorts, click here.
