March showed a dramatic increase in prices, price per sq. ft. and other categories across all geographical areas related to real estate sales and properties on the market. This was likely due to existing contracts and seller’s plans to market their property – before the impact of Covid-19.
Single family home sales in the Ogden Valley jumped from 7 in February to 13 in March, the median sales price went from $540,000 to $590,000 and the price per sq. ft. from $172.00 to $185.00. Condo and townhouse median sales price in the Valley increased from $229,000 to $336,000 and the price per sq. ft. from $213.00 to $250.00. There are 34 condos and townhouses currently on the market in the Valley, up from 24 in February. In the Mountain Green area, median sales price for single family homes increased to $443,000 in March from $381,000 in February, and the price per sq. ft. increased to $145.00 from $116.00. Along the Ogden Bench, home sales jumped from 34 units sold to 51, the median sales price rose to $265,000 from $203,000, and the price per sq. ft. from $121.00 to $138.00.
The Market Update for April should reflect more of the initial impact of Covid-19, social distancing and the state of the economy. I will have those updated statistics for you by the middle of May at the latest.
MARKET UPDATE – March 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 59 13 134 $590,000 $185.00
MGSF 28 10 49 $443,000 $145.00
OBSF 61 51 27 $265,000 $138.00
OVC/T 34 3 90 $336,000 $250.00
For comparative real estate statistics for all Utah ski resorts, click here.
