Lisa’s Market Update – June 2022

Local Real Estate Market Possibly Shifting

As median sales price and median price per sq. ft. remained relatively stable in the Ogden Valley, Mountain Green and Ogden Bench areas, there was a noticeable increase in inventory and properties sold, which could point to the early stages of a shift away from such a strong seller’s market.  To be sure, there were some fluctuations in sales price and price per sq. ft. from April to May; but again, at this point there is no discernable trend related to prices.

Price per sq. ft. for condos and townhomes in the Ogden Valley reached a record of $479.00 in May, and single family homes median sales price jumped from $1,150,ooo to $1,225,000.  But the price per sq. ft. for single family homes dropped from $339.00 to $284.  The number of properties on the market made a dramatic rise to 48 from 23 in April.

Single family homes for sale in the Mountain Green area also jumped significantly, from 13 in April, to 20 in May.  Along the Ogden Bench the median sales price increased to $451,000 from $402,000, while the price per sq. ft. dropped to $206.00 from $221.00.  There were 45 properties sold, up from 33 in April.

Again, no significant, consistent slowdown, but the streak of months with a consistent upward trend in all statistical sales categories has come to an end.

May 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          48                      13                      21                      $1,150,000     $284.00

MGSF         20                      16                       12                     $765,000        $220.00

OBSF           30                      45                       6                      $451,000        $206.00

OVC/T          9                        5                         9                     $929,000        $479.00

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