MARKET UPDATE
February 2022 was yet another month of upward movement in key sales statistics for the Ogden Valley, Mountain Green, and Ogden Bench real estate markets. Another month of a strong seller’s market. But, there were also some wild swings in the stats, some within the same geographical market. As always, it makes sense to view the numbers relative to multiple, consecutive months before trying to establish any meaningful variations to current trends.
The median sales price for single family homes in the Ogden Valley jumped from $905,000 in January to $1,455,000 in February, and the median price per sq. ft. increased from $275.00 to $333.00. Townhome and condo sales in the Valley also showed a dramatic rise in median sales price from $382,000 to $875,000, but the median price per sq. ft. dropped to $273.00 from $442.00.
In the Mountain Green single family home market, sales jumped from 4 properties sold in January to 9 in February, while average days on the market dropped from 47 to 23. But the median sales price slipped to $695,000 from $825,000 and median price per sq. ft. fell from $347.00 to $217.00.
With the current inflation rates and promise of additional interest rate hikes, not to mention the evolving situation in Ukraine – the next few months should be interesting relative to local real estate markets.
February 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 16 6 89 $1,455,000 $333.00
MGSF 6 9 23 $695,000 $217.00
OBSF 7 27 11 $410,000 $191.00
OVC/T 1 3 2 $875,000 $273.00
For comparative real estate statistics for all Utah ski resorts, click here.
