Single Family Home and Condo sales statistics for the Ogden Valley (Snowbasin / Powder Mountain / Huntsville / Eden / Liberty) and Summit County (Park City / Deer Valley) are shown in the chart below. Average # days on market (DOM) for the 90 day period ending 9/11/2007 decreased for both SFH and Condos in Summit County, while the Ogden Valley market saw DOM increases for both housing types. In the Ogden Valley market, SFH and condo sales volume and price per square foot held steady compared to the previous 90 day period, while Summit County held steady in all areas except a decline in the number of condo units sold. The Ogden Valley market may be establishing a baseline after experiencing declines in $/FT2 since 2006. In my opinion, the data, and my conversations with local and out of state buyers both point towards measured appreciation beginning some time in the next 3-6 months.
As mentioned in my previous update, the real estate market along the I-15 corridor (SLC - Ogden) has experienced significant $/FT2 and sales price increases over the past 24 months. Other recreational second home markets (e.g. Sun Valley, Park City, Vail, Aspen) have continued to see significant price appreciation over the same period. These factors continue to work together to make the Ogden Valley market more attractive to local and out of state buyers.I would be happy to answer any questions regarding Utah real estate. Please send inquiries to info@RockyMountainHomes.net or go to http://www.rockymountainhomes.net/ for more information.
Thanks,
John Allaire
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