Lisa’s Market Update – May 2022

More ups than downs show up in April’s real estate sales statistics for the Ogden Valley, Mountain Green and Ogden Bench areas.  The strong market appears to be holding.

The most significant increases in sales numbers came in the Ogden Valley. Single family homes median sales price was $1,255,000, up from $1,076,000 in March, and median sales price for condos and townhomes made a dramatic jump from $380,000 to $845,000.  The mitigating factor for condo sales is that there was only 3 transactions, which can skew the median. Single family sales in the Valley also showed an increase in days on the market from 6 to 31, a possible indicator of a moderating market.

In the Mountain Green area, median sales price increased from $675,000 to $765,000, median price per sq. ft. to $233.00 from $200.00, while days on the market dropped from 11 to 6.

Along the Ogden Bench median price per sq. ft. jumped to $221.00 from $209.00, but the median sales price dropped from $440,000 to $402,000.

Interest rates are rising and inflation is soaring from pandemic dynamics.  China’s economy is slowing, as is most of the developed world’s, also due to Covid, and a major war rages in Ukraine.  Economists can’t agree on what comes next.  But our strong local real estate market appears to be holding.  Stay tuned.  The next six months should be telling.

April 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          23                      12                      31                      $1,225,000     $339.00

MGSF         13                        9                        6                     $765,000        $233.00

OBSF           27                      33                       5                      $402,000        $221.00

OVC/T         3                         6                         6                     $845,000         $419.00

For comparative real estate statistics for all Utah ski resorts,  click here.