Home sales during August in Weber County Utah were slightly improved compared with July, and were just marginally down compared with August of 2009. Reported thus far, 192 Weber County Real Estate listings sold last month, an improvement of 6.25% from last months dismal numbers, but down 14% compared with August of last year.

The second straight slow month of home sales, combined with additional real estate inventory gives Weber county 12.59 months of inventory based on Augusts home sales. There are currently 2418 Weber County homes for sale, up 6 from this time last month. If the trend doesn’t start shifting soon, we could see the number of MLS listings exceed the record of 2443 set last September.

Prices of homes sold during August were pretty similar to home prices over the past few months. The median price of homes sold was $149,000 while the average price of homes sold was $176,863. These selling prices are still about 21% less than the average list prices of $224,917.

One positive area for the Ogden Real Estate market is the number of under contract homes. In the last month there is a net increase of 22 under contract properties. This means we will likely see more home sales in September than we saw in August.

The fact that there are less listings now than exactly a year ago is a positive sign. The bad news is that last year at this time home sales were greatly accelerated by the home buying tax credits. It will be interesting to see if the number of Ogden Homes for sale continues to increase, or starts to decrease. If it increases, we can expect a long, winter, and significant future price declines.