Lisa’s Market Update – November 2022

The Local Real Estate Market is Approaching a Standstill.  According to real estate sales statistics across the Ogden Valley, Mountain Green and Ogden Bench areas, there is little movement in either direction, and one previously vibrant market segment came to a complete halt.

The condo and townhome market had been torrid for over a year in the Ogden Valley.  In particular, the ability to rent these properties short term, along with rising real estate prices across the Valley in general, resulted in lofty prices and properties purchased as soon as they went on the market.  In October – there were no (0) sales of condos or townhomes in the Valley.  Properties in this category have now been on the market for months, with few potential buyers even looking.

Median sales prices and price per sq. ft. dropped slightly in some areas, but much of that decline can be attributed to the fact most sales were on the lower end of the price scale, where price per sq. ft. is typically lower than on the upper end of the scale.

October 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                       10                       19                    $845,000        $288.00

MGSF         23                        7                        22                    $675,000        $256.00

OBSF           68                      31                       17                   $344,000        $192.00

OVC/T         15                        0                         0                           0                       0

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