March 07, 2009

All Real Estate is Local-Northern Ogden

You might be interested to know what happened to the house at 1275 N. Willard Peak Drive, in Ogden when the seller added a third bedroom. This is the house with great street appeal and a very comfortable floor plan and a few extra upgrades. It was listed at $172,000 and is now under contract for more than the listing price even in a buyer’s market. Miracles happened for both the buyer and the seller in this case. We had so many offers but one buyer loved it so much to pay a few extra dollars. That third bedroom was all that was needed to cement the transaction.

No matter what the media reports as national or regional trends, people are most interested in what is happening in their local neighborhood and city. The “All Real Estate is Local” section of this blog is intended to give you local market information. If you can’t find your city or want a specific neighborhood report, please contact me directly.

North Ogden Market Data as of today:

County	Unit Sales	Avg. Price	Median Price	New Listings	Total Listings	Months of Inventory	DOM
No. Ogden	20	$184,056	$185,000	73	144	7.2	92

Unit Sales = # of units sold in the last 30 days
Average Price = The Average price of homes “sold” in this area
Median Price = is the midpoint between the lowest price home and the highest price home sold in the last 30 days
New Listings= the number of new homes listed in the last 30 days
Total Listing = the total number of homes listed in this area currently
Months of Inventory is based on the number of months it will take to sell current inventory based on the current sales rate. A balanced market of buyers and sellers is considered to be a number between 5 & 6. We are currently in a buyer’s market.
DOM is the average number of days it takes to sell a home in this area.

Here is the latest market data for the five most populated counties of Northern Utah as of the end of February, 2009.

Posted By: Steve Randall