South Ogden,
Utah Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$125,000 |
| Average Condo Price
(Sold) |
$126.260 |
| Low Condo Price
(Sold) |
$35,000 |
| High Condo Price
(Sold) |
$282,000 |
| Number of Condos Sold |
44 |
| Average Days on Market Until Sold |
54 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
45% |
________________________________________________________
|
Demand
|
South Ogden, Utah condo
demand is down by
39% the first
six months of 2008
compared with the
same period in 2007.
South Ogden
condo marketing time to change
"for sale" status to
"sold" is
very long at
an average of 54 days.
It takes 6 days less
on average to sell
in South Ogden than
the
Weber County average. There are
currently 4
condos with pending
sales transactions. |
|
Supply
|
South Ogden has 15 condos currently listed
on the market for
sale. This
figure constitutes an
5.2 month supply of condos on
the market.
Townhouses
constitute 79% of the current
condos listed. The
current listings
have spent an
average of 83 days
on the market. |
|
Price
|
Residential prices are
climbing in South Ogden.
The average
residential price
increased by $8,140 the first half of
2008 compared with
the same period in
2007. That
represents a 5%
increase. The median
condo sold price is
$125,000. Current listings
prices range between
$52,000 and $239,900. |
|
Financing
|
The majority of
financing in
South Ogden is by
conventional loans,
constituting 50.4%.
Cash purchases are
at 11.6% and FHA
loans account for
24.8%. |
|
Conclusion
|
The South Ogden, UT real
estate market is
currently a mixed
market. Demand for
homes is soft while
home prices are
rising.
The marketing
time slightly favors buyers
and takes an average
of six days less to
sell than the Weber
County average . |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for South 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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