Ogden,
Utah Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$107,000 |
| Average Condo Price
(Sold) |
$108,990 |
| Low Condo Price
(Sold) |
$45,000 |
| High Condo Price
(Sold) |
$265,000 |
| Number of Condos Sold |
146 |
| Average Days on Market Until Sold |
50 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
53% |
________________________________________________________
|
Demand
|
Ogden, Utah condo
demand is down by
34% the first
six months of 2008
compared with the
same period in 2007.
Marketing time
for Ogden
condo to change
"for sale" status to
"sold" is short at
an average of 50 days. This period
of time is 10 days
less than the Weber
County average.
There are 27
condo sales
currently pending. |
|
Supply
|
Ogden has 146 condos currently listed
on the market for
sale. This
figure constitutes a
one year
supply of condos on
the market.
Townhouses
constitute 45% of the current
condos listed. The
current listings
have spent an
average of 132 days
on the market. |
|
Price
|
Residential prices are
increasing in Ogden.
The average
residential price
rose by $24,892
the first half of
2008 compared with
the same period in
2007. That
represents a 14%
increase. The median
condo sold price is
$107,000. Current listings
prices range between
$44,900 and $1,779,800. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 46.1%.
Cash purchases are
at 11.1%
while FHA makes up
33.9% of home
financing in Ogden.
The average for FHA
financed purchases
is 36.4% in Weber
County. |
|
Conclusion
|
The Ogden, UT real
estate market is
mixed. There is decreasing
demand but still
rising home prices.
The
short marketing
time favors sellers
for condos priced
with the market
while the large
selection and
inventory favors
buyers. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Ogden Condos
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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.com
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