The Local Real Estate Market is Holding Steady – Few Consistent Signs of Advancing, or Retreating.
There is not much to report in terns of trends in real estate statistics for February in the Ogden Valley, Mountain Green, and Ogden Bench areas. Hopefully, the upcoming meeting of the Fed will provide some good news for a market seemingly stuck in heavy mud.
For every sign of increased sales, rising prices , fewer days on the market…there are signs indicating a move in the opposite direction. An example – in the Mountain Green single family home market, the average sales price increased from $644,000 to $832,000, but the price per sq. ft. decreased from $239 to $219, and days on the market rose to 68 from 60.
Most notable statistic – condo and townhome sales in the Ogden Valley. In January there was not a single unit sold; in February, nine units sold. But average days on the market was 87. At the height of the seller’s market in 2022, condos/townhomes (which can be rented short-term/nightly) would often sell within a few days.
February 2024 Real Estate Statistics
OVSF- Ogden Valley Singe Family; OVC/T – Ogden Valley Condominiums & Townhomes; MGSF – Mountain Green Single Family; OBSF – Ogden Bench Single Family
Prop. for Sale Prop. Sold Avg. Days/Mkt. Avg. Sold $ Avg. $ Sq. Ft.
OVSF 60 4 56 $1,077,000 $365.00
OVC/T 11 9 87 $602,000 $399.00
MGSF 26 8 68 $832,000 $219.00
OBSF 47 20 44 $415,000 $188.00
