Update - Ogden Valley Single Family Home Market

By
Real Estate Agent with Destination Properties

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 

Upper Ogden Valley Utah

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