North Ogden,
Utah Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$117,250 |
| Average Condo Price
(Sold) |
$115,659 |
| Low Condo Price
(Sold) |
$82,900 |
| High Condo Price
(Sold) |
$149,900 |
| Number of Condos Sold |
43 |
| Average Days on Market Until Sold |
43 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
74% |
________________________________________________________
|
Demand
|
North Ogden, Utah condo
demand is down by
30% the first
six months of 2008
compared with the
same period in 2007.
The average marketing time
for North Ogden
condos to change
"for sale" status to
"sold" is short at
an average of 43 days. This period
of time is 17 days
less than the Weber
County average.
There are 4
condo sales
currently pending. |
|
Supply
|
North Ogden's
current condo listed
on the market stands
at 11. This
figure constitutes a
short 3.1 month
supply of condos on
the market.
Townhouses make up
nearly all of the current
condos listed. The
current listings
have spent an
average of 83 days
on the market. |
|
Price
|
Residential prices are
slightly declining in North Ogden.
The average
residential price
fell by $10,925
the first half of
2008 compared with
the same period in
2007. That
represents a 5%
decrease. The median
condo sold price is
$117,250. Current listings
prices range between
$87,000 and
$263,900. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 53.4%.
Cash purchases 6.3%
while FHA makes up
33.5% of home
financing in North Ogden
& Pleasant View.
The average for FHA
financed purchases
is 36.4% in Weber
County. |
|
Conclusion
|
The North Ogden, UT real
estate market is
showing decreasing
demand and lower condo prices,
both factors
favoring buyers. The
short marketing
time and low
competition favors
sellers. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for North 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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