I wanted to provide an update to the information I posted back in July regarding the status of the Ogden Valley real estate market. The results of the last few months continue to support what I feel represents a bottoming, and new baseline for the Ogden Valley real estate market.
Although $/FT2 is not a perfect measure, this metric provides a good view of the market overall, and helps to identify trends. Listed below is annual data providing a historical snapshot of the Ogden Valley real estate market. As you can see, the period 2002-2004 serves as a good baseline, when SFH home sales prices were very stable. A large percentage of recent sales in 2009 are distressed, meaning many are short sales, REO or bank-owned properties. This is a good test for any real estate market.
Year AVG $/FT2
2000 $90/FT2
2001 $78/FT2
2002 $85/FT2
2003 $84/FT2
2004 $89/FT2
2005 $110/FT2
2006 $150/FT2
2007 $150/FT2
2008 $154/FT2
* January - March 2009 $134/FT2
* April - June 2009 $93/FT2
* July - September 2009 $93/FT2
* October 2009 (10 SFH sold to date) $104/FT2
Please don't hesitate to contact me if I can answer any questions or provide additional information.
Thanks,
John Allaire
Prudential Utah Real Estate - Eden
Comments(0)