Weber County Home Sales Way Down in January « Utah Homes for Sale – Real Estate Market Conditions
Real Estate in Weber County Utah started out really slowly to begin 2010. Unofficially, January posted just 116 residential home sales. This is down by more than 10% from January of last year, which was also a bad month for number of home sales. This is the lowest single month of total home sales since 1997, when I was still in high school.
The number of homes for sale in Weber County also went up during January. At January’s slow pace of home sales, Ogden Real Estate has an absorption rate of more than 19 months. There are currently 2,108 homes for sale in the Ogden area.
Prices of Homes for Sale in Ogden continue to drop. The current median price of Weber County Real Estate listings is $174,900. The average list price of Ogden Homes for Sale went up last month, it is now at $236,036 (28% higher than January’s average sales price of $168,446)
Of the two counties I've done market stats for thus far this year, it's looking like January is suffering from a serious Government stimulus end hangover. If the stimulus wasn't extended, I wonder how much slower the home sales would be. It's a good thing they extended it so it will end during summer when home sales are traditionally stronger, but after having a strong April, I bet we'll have the slowest May for home sales that we've seen in years.
