Market Conditions for Ogden, Utah Reported by Lonnie Williams, Principal Broker, REALTOR, GRI, CSP, e-PRO Updated September 23, 2009.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

In the past 30 days in Ogden 199 homes have gone on the market, 189 have been put under contract, and 78 have been sold. In the past 180 days there have been 539 homes sold at a median price of $124,200 and an average time of 84 days on the market. There are 780 homes for sale in Ogden at present.

Ogden has seen an increase in new listings, but otherwise inventory remains about the same as a month ago. Prices have fallen very slightly, and time on the market is markedly increased as sellers hold out for the spring market, hoping prices will rise. There aren't a lot of bargains for buyers, but then Ogden is a bargain to start with, compared with prices in Davis County.

WHAT YOU SHOULD KNOW ABOUT
UTAH REAL ESTATE

According to the Utah Association of Realtors, the Utah real estate market is stable, and buying a home here is an excellent investment. Here's why:

1. UTAH HAS DEMAND FOR HOMES In 2007, Utah had record population growth of nearly 85,000 people, which translates into about 25,000 to 30,000 new households. With the state expected to add another 84,000 people to the population in 2008, this growth is forecasted to continue into next year and beyond.

2. UTAHNS ARE EMPLOYED About 52,500 new jobs were created in Utah over the past year, and wages have been growing between 5 and 10 percent per year. Utah unemployment has averaged about 2.6 percent over the past year, just over half the U.S. average of 4.6 percent.

3. AFFORDABLE LOANS ARE AVAILABLE Mortgage interest rages are at historic lows, hovering around 6 percent. Conventional financing is readily available for qualified borrowers, and FHA loans are becoming popular for those with less-than-perfect credit. Even jumbo loan rates are edging downward.

Utah home appreciation continues to outperform that of any other state in the country. With home prices increasing 12.9 percent over the past year, compared to the national increase of 1.8 percent during the same period, Utah has consistently led the U.S. in home price gains..

ZIP Codes: 84401, 84403, 84404, 84405, 84414

Location Characteristics: Ogden City, situated on the east face of Wasatch Mountains, has a unique story: Initially a mountain man trading center, Ogden grew rapidly after becoming "The Depot" at the junction of the intercontinental railroad. Ogden's selection as a major venue city for the 2002 Winter Olympic Games has again focused attention on Ogden as a recreational mecca.

Combining Ogdenīs world class recreation with a restored Historic Business District featuring distinctive shopping and dining, some of the best museums in the country, and outstanding cultural events, you have a city not to be missed. In fact, "Outside Magazine" recenty voted Ogden as #3 out of the country's top 20 best cities for outdoor recreation!

New companies have shown great confidence in Ogden. Adamīs Aircraft, Descente North America, Goode Skis, Kahuna Creations, JDH group, and others to be announced have brought their national headquarters and facilities to Ogden to take advantage of Ogdenīs resources, relative low cost, well educated employees, and unique geographical ability to provide easy access to air, truck, and rail transportation.



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