BOOM! Ogden Real Estate Prices Nearly Double
Published On: April 14, 2016 Posted by: Jeremy Peterson
If you live in the Ogden area and feel like house prices are a lot higher than they were a couple years ago, you would be right. House prices continue to spring upwards as the jobs market is red hot and there are more buyers in the market than there are sellers. Such conditions put sellers in control of market pricing and this latest run has put home prices in Weber County higher than ever before.
To illustrate the price movements, here is a chart of two Ogden neighborhoods.
One is the Trolley district which is located between Washington Blvd. and Harrison Blvd. and bounded by 20th St. on the north and 30th St. on the south. It also happens to be the largest national historic district in the United States. The other neighborhood illustrated in the chart is Ogden’s East Bench which is the neighborhoods east of Harrison Blvd. and north of Weber State University and bounded by the Ogden River on the north.
Amazingly, Ogden’s Trolley District has risen from an anemic average price per SQFT of $36 during the trough of 2012 to a healthy $65 per SQFT today. That is a stunning 80% increase! Likewise, Ogden’s East Bench has risen from $60 per SQFT at its low ebb to $90 per SQFT today. That is a remarkable 50% increase.
Of course these increases represent the swing from depression-like lows to what is showing signs of being a new market top today. Regardless, house prices in Ogden have never been so high. If you are considering taking advantage of this seller’s market, CONTACT ME, and let’s discuss some options available to you.