Big Changes in Local Market Indicated by Latest Statistics
The June real estate statistics for the Ogden Valley, Mountain Green, and the Ogden Bench reflect a market with significant changes, but holding steady in relation to prices.
Number of properties for sale, properties sold, and median days on the market indicated a softening market; but again, prices did not. Ogden Valley single family homes on the market rose to 55 from 48 in May. Along the Ogden Bench the number jumped to 40 from 30, while there were 14 condos and townhomes on the market in the Valley, up from 9. Single family home sales in the Valley dropped to 5 from 13, to 10 from 16 in Mountain Green, and to an eye-popping 11 from 45 along the Ogden Bench. Median days on the market for single family homes jumped to 16 from 12 in Mountain Green, and to 29 from 9 for condos and townhomes in the Valley. More properties on the market, fewer sales, and more days on the market are indicators of increased inventory and slower, and fewer, decisions for offers.
Single family median price per sq. ft. in the Ogden Valley remained relatively stable at $1,000,000, while it jumped to $235.00 from $220.00 in Mountain Green. Price per sq. ft. for condos and townhomes in the Valley jumped to $486.00 from $479.00 in May. Median sales price for single family homes increased from $765,000 to $900,000 in the Mountain Green area, and from $451,000 to $471,000 along the Ogden Bench.
The local real estate market is surely slowing from the torrid pace it has kept for the past two years. But prices are still strong, relatively stable, and the increases in days on the market and properties for sale, along with the decreases in properties sold, are not dramatic enough to indicate a downturn.
June 2022 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 55 5 20 $1,000,000 $283.00
MGSF 19 10 16 $900,000 $235.00
OBSF 40 11 11 $471,000 $201.00
OVC/T 14 5 29 $710,000 $456.00
For comparative real estate statistics for all Utah ski resorts, click here.
