2018 Ogden City Market Report

2018 Ogden City Market Report

Posted by Brandi Hammon on Tuesday, March 19th, 2019 at 10:03am.

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Single Family Homes

In 2018 the Ogden market for single family homes continued to rise reflecting a strong market with median sold prices up over 11% with the median sold price even at $200,000. The number of homes sold in 2018 remained fairly close to the number the previous year with 1,434 homes sold, a growth of only one percent. Having said that, the average time homes stay on the market dropped to 13 days, or 7.14% from the previous year. This has been a steady increase since 2014 wherein the rate of home prices has risen approximately 11% each year.

Townhomes

The townhome market showed the most growth of all types in terms of median sold price, posting a sharp 26.81%. The median sold price ended at $175,000 for the year. There was an increase in the number of sales, up 5.88% with 112 successful closings. Townhomes also saw less time on the market with an average of 8 days before going under contract.

 Condos

Ogden’s condominium market also saw impressive growth with the average median sold price for the year at $134,500, an increase of 12.04%. However, there was a slight downturn in the number of closings in 2018 going from 131 in 2019 to 126 last year, a drop of 3.82%. Even still, these homes are also staying on the market for far less time then 2017, only 10 days on average, which is a 33% drop.

Residential Lots

Residential land also rose, but didn’t break the double digits having gone up by only 4.17% from 2017. The median price for residential land was $125,000 and there were also more closings than 2017 with 2,291, an increase of 9.93%.

Wrap Up

The overall residential market in Ogden seems to be performing quite well and showing a steady growth rate each year of around 10%. Properties listed are very likely to sell and available inventory is holding steady as sellers are still seeing opportunities to capitalize on the strong market and rising prices.

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