|
Ogden
Valley residential sales activity picked up during the summer with
double digit monthly sales activity from June through August, for the
first time since June 2007. Third quarter single family sales
totaled 17, an increase from the 3rd
quarter '06 sales of 14; and condo sales totaled 12, up from 5 for
the same quarter of '06. However, 2007 YTD sales for both houses
and condos are still ~24% below '06 YTD numbers. Sellers and their
agents are becoming more realistic about pricing as it has become
more apparent that the market correction affecting so much of the
country is also affecting Valley real estate sales. At the same
time, buyers see an opportunity to buy into the Valley at prices that
are still reasonable in comparison to many other resort markets.
After
reaching a peak of 158 in the past month, there are 140 active
residential listings in the Ogden Valley area as of mid-October. The
YTD average listing price is in the high $500,000s while the average
sales price is in the mid-$400,000s -- a function of significant
price reductions for many properties that have sold and buyer
interest in less expensive properties. While there are currently 22
properties listed at a million dollars or more, three of which are
under contract, only one sale in this price range has closed in the
past year.
Related Items:
Third
quarter '07 sales numbers for Ogden, both residential and condos,
were both down by 20-25% in comparison to 3rd
quarter '06 but sales prices have continued to be strong, with an
11% increase for single family homes and a 17% increase for condos
over the same quarter '06. The Ogden market is still a relative
bargain, with YTD average single family sales price in the
mid-$170,000s and average condo sales price close to $120,000.
Ogden's Mayor Godfrey recently spoke before a Weber-North Davis
Association of Realtors luncheon meeting, outlining the ongoing urban
renewal programs taking place there. The world's only
free-standing, refrigerated ice-climbing tower, anticipated to open
sometime in the winter of '07-'08, should be yet another draw to
a city that is increasingly recognized for its proximity to outdoor
recreational activities.
For
additional information on Ogden Valley or Ogden real estate, feel
free to contact Nancy Stukan, with Great American Realty, at
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
or (801)-866-2848, or visit www.NancysEden.com.
 |
Subscribe to this comment's feed