Just my opinion, but I believe the Ogden Valley (Eden, Liberty, Huntsville) single family home market has finally reached the bottom. I base this on several months of what appears to be support on a $/FT2 basis.
I typically use 2004 as the baseline year, and recent home sales (since April of 2009) have been running very close to that baseline.
Following is a rundown since 2000. Figures below represent home sales on a $/FT2 basis for the full calendar year:
Year $/FT2
2000 $90.16
2001 $78.22
2002 $85.21
2003 $83.99
2004 $88.82
2005 $109.72
2006 $150.25
2007 $150.32
2008 $154.06
*2009 $91.64
* April 1, 2009 through July 19, 2009
I have monthly sales statistics and graphs to back this up if anyone is interested.
Thanks,
John Allaire
Prudential Utah Real Estate - Eden
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