So, you're wondering about the current Ogden housing market trends? Here's the deal: as of February 2025, the Ogden housing market is somewhat competitive, with homes selling for a median price of $374,000, which is up 3.1% compared to last year. While prices have increased, the number of homes sold has decreased. Let's dive deeper into what's happening in the real estate market right here in Ogden, Utah.
I've been keeping a close eye on the Ogden real estate scene for years. I've seen it boom, and I've seen it adjust. Right now, we're in a bit of a unique situation with rising prices yet fewer sales. What does that mean for you, whether you're looking to buy or sell? Let's break it down.
Current Ogden Housing Market Trends: A Look at 2025
Home Sales in Ogden
One of the most important indicators of market health is the volume of home sales. According to Redfin, in February 2025, there were 78 homes sold in Ogden.
- That's a decrease of 17.0% compared to the same time last year, when 94 homes were sold.
- This indicates a potential slowdown in market activity.
Fewer sales could signal a few things:
- Increased hesitancy from buyers due to factors like rising mortgage rates or economic uncertainty.
- A mismatch between seller expectations and what buyers are willing to pay.
- A seasonal lull, although February is typically not a peak selling month in Utah.
Home Prices in Ogden
Let's get to the numbers everyone's watching: home prices.
- The median sale price of a home in Ogden in February 2025 was $374,000.
- This represents a 3.1% increase year-over-year.
- The median sale price per square foot is $213, down 1.8% since last year.
So, while overall prices are up, the price per square foot is down, which could suggest that buyers are prioritizing smaller homes or that larger, more expensive homes are sitting on the market longer, skewing the average.
Are Home Prices Dropping in Ogden?
This is the million-dollar question! While the median sale price increased year-over-year, it's important to consider a few factors:
- Small fluctuations month-to-month are normal. Real estate is seasonal.
- The price per square foot is actually down.
- The number of homes sold is down, suggesting that some sellers may need to adjust their expectations.
Based on current data and my own observations, I don't believe we are seeing a significant drop in home prices in Ogden right now. However, the rate of price appreciation has definitely slowed. It's not the crazy, frenzied market we saw a few years ago.
Ogden Home Prices Compared to the National Median Price
It's always good to have some context, so let's compare Ogden to the national market.
- As of January 2025, the national median home price was $396,900.
- Ogden's median price of $374,000 is approximately 6% lower than the national average.
- The national year-over-year price change was +4.8%. Ogden's 3.1% is lagging slightly behind.
This means Ogden remains a relatively affordable option compared to many other areas in the U.S., and has the potential for real estate appreciation down the road.
Housing Supply in Ogden
Inventory is a critical factor influencing market dynamics. Unfortunately, I don’t have the explicit data on the precise number of active listings in Ogden right now.
However, we can infer some things:
- The decrease in home sales suggests that there may be slightly higher inventory compared to last year. Homes are taking longer to sell, indicating less competition among buyers.
When inventory rises, buyers typically have more negotiating power. However, the overall level of inventory is still likely relatively low compared to historical averages, so it’s not a buyer’s free-for-all just yet.
Is It a Buyer's or Seller's Housing Market in Ogden?
This is where things get a bit nuanced. I would say we are currently in a neutral market leaning slightly towards buyer's market in Ogden.
Here's why:
- Homes are taking longer to sell (68 days compared to 48 days last year).
- The sale-to-list price ratio is down slightly (98.5% compared to 99% last year).
- Homes with Price Drops are at 30.8% which is up 4.7% year-over-year.
However:
- Median home prices are still up year-over-year.
- Homes are receiving multiple offers.
Ultimately, it is somewhat competitive. This means buyers have slightly more leverage than they did a year ago, but sellers who price their homes competitively and present them well can still achieve successful sales.
Market Trends
Here's a summary of the key trends I'm seeing in the Ogden housing market:
- Moderating Price Growth: Prices are still increasing, but at a slower pace.
- Increased Days on Market: Homes are staying on the market longer.
- Slightly Increased Inventory: There are likely more homes available than there were last year.
- Still Relatively Affordable: Ogden remains a more affordable option than many other parts of the country.
Here’s a quick table summarizing the key metrics:
| Metric | February 2025 | Year-over-Year Change |
|---|---|---|
| Median Sale Price | $374,000 | +3.1% |
| Number of Homes Sold | 78 | -17.0% |
| Median Days on Market | 68 | +20 days |
| Sale-to-List Price Ratio | 98.5% | -0.5 pt |
Impact of High Mortgage Rates
Mortgage rates play a HUGE role in the housing market, and they have certainly impacted Ogden.
- As of mid-March 2025, the average 30-year fixed mortgage rate is around 6.65%, according to Freddie Mac.
- The average 15-year fixed mortgage rate is about 5.8%.
These rates are significantly higher than the record lows we saw a few years ago. Most forecasts predict that rates will remain at or slightly above this level for the foreseeable future.
How do these rates affect the Ogden market?
- Reduced Buyer Affordability: Higher rates mean buyers can afford less house for the same monthly payment.
- Slower Demand: Some potential buyers are priced out of the market or are choosing to wait for rates to come down.
- Increased Negotiation Power for Buyers: With less competition, buyers have more room to negotiate price and terms.
Ogden Housing Market Forecast: What's in Store for Home Prices?
So, let's cut to the chase: the Ogden housing market forecast points toward continued growth, but at a more moderate pace. According to the latest data, we can expect to see home values in Ogden appreciate over the next year, but it's unlikely to be the crazy boom we've experienced in recent years.
Alright, let's dive into the numbers and break down exactly what this means for you.
What the Experts are Saying: Ogden's Projected Home Value Growth
I've been keeping a close eye on the Ogden real estate market for quite some time now, and I always look to credible sources like Zillow for insights. Here's a snapshot of their most recent projections, specifically focusing on the Ogden, UT metropolitan area:
| Region | Base Date | Projected Change by Feb 2025 | Projected Change by Apr 2025 | Projected Change by Jan 2026 (1-Year Forecast) |
|---|---|---|---|---|
| Ogden, UT | Jan 31, 2025 | 0.4% | 1.0% | 2.3% |
So, what does this all mean?
- Near-Term Growth (February 2025): Zillow predicts a 0.4% increase in home values by the end of February 2025. This suggests a steady, but not dramatic, climb in prices.
- Spring Surge? (April 2025): The forecast anticipates a slightly larger increase, projecting a 1.0% rise by the end of April 2025. This could be influenced by the typical spring buying season. In general, my expertise would suggest that you should be prepared if you want to buy a home.
- The Year Ahead (January 2026): Looking at the bigger picture, the 1-year forecast estimates a 2.3% growth in home values from January 2025 to January 2026.
Ogden vs. The Rest of Utah: How Does it Stack Up?
To give you some context, let's see how Ogden's projected growth compares to other major metropolitan areas in Utah:
| Region | Projected Change by Feb 2025 | Projected Change by Apr 2025 | Projected Change by Jan 2026 (1-Year Forecast) |
|---|---|---|---|
| Salt Lake City, UT | 0.2% | 0.5% | 1.4% |
| Provo, UT | 0.3% | 0.5% | 1.0% |
| St. George, UT | 0.1% | 0.2% | 1.5% |
| Logan, UT | 0.2% | 0.7% | 2.1% |
| Heber, UT | 0.3% | 1.1% | 4.0% |
As you can see, Ogden's forecast generally positions it as having stronger growth than Salt Lake City, Provo, and St. George, showcasing its relative strength within the Utah housing market. It is on par with Logan, UT, and slower than Heber.
Will the Ogden Housing Market Crash?
Okay, let's address the elephant in the room: Will home prices drop or will the Ogden housing market crash? Based on the current data and my understanding of the market, a crash seems unlikely. While the rapid price appreciation of the past few years is cooling off, the forecast points towards continued, albeit moderate, growth. Several factors contribute to this:
- Continued Demand: Ogden remains a desirable place to live, with a growing population and a strong job market.
- Limited Inventory: While inventory has increased slightly, it's still relatively low compared to historical averages. This puts upward pressure on prices.
- Utah's Economic Strength: Utah's overall economy is robust, providing a solid foundation for the housing market.
Looking Ahead: My Prediction for 2026
While it's tough to predict the future with certainty, I think it's reasonable to expect the Ogden housing market to continue to appreciate in 2026, although possibly at a slower rate than in previous years. Factors like interest rates, inflation, and overall economic conditions will play a significant role. I always say, be prepared.
Should You Invest in the Ogden Real Estate Market?
Population Growth and Trends
- Ogden has experienced steady population growth in recent years. This trend indicates an increasing demand for housing, which is a positive sign for real estate investors.
- The city's strategic location in the Ogden-Clearfield Metropolitan Statistical Area (MSA) makes it an attractive destination for both newcomers and businesses looking to tap into the growing workforce.
Economy and Jobs
- Ogden's economy is diverse, with employment opportunities in various sectors, including manufacturing, healthcare, and aerospace. The presence of Hill Air Force Base also contributes significantly to the local job market.
- With a stable job market and a lower cost of living compared to many other metropolitan areas, Ogden attracts professionals and families, which, in turn, drives the demand for rental properties.
Livability and Other Factors
- Ogden offers a high quality of life, with access to outdoor recreational activities, a vibrant arts scene, and a strong sense of community. These factors can attract tenants, making it a desirable place for real estate investments.
- The city's commitment to infrastructure development and revitalization projects further enhances its livability and attractiveness to both residents and potential renters.
Rental Property Market Size and Growth
- The rental property market in Ogden is substantial and continues to grow. This is partially due to the city's attractiveness to students attending nearby universities and individuals relocating for job opportunities.
- Investors can find a range of rental properties, from single-family homes to apartments, catering to various tenant preferences.
Other Factors Related to Real Estate Investing
- Ogden's relatively affordable real estate market compared to larger metropolitan areas provides investors with the potential for reasonable acquisition costs and strong rental income.
- With a stable and growing economy, the likelihood of long-term rental income and property appreciation is higher, making Ogden a potentially lucrative investment option.
- The city's commitment to maintaining and enhancing its neighborhoods through urban development projects can contribute to the appreciation of property values over time.
This, investing in the Ogden real estate market is a promising opportunity for those looking to capitalize on a growing and vibrant city. With population growth, a diverse economy, high livability, and a thriving rental market, the city offers a favorable environment for real estate investments.
Moreover, its affordability compared to other major cities makes Ogden an attractive choice for investors seeking long-term returns and potential property appreciation.
However, as with any investment, it's essential to conduct thorough research, consider local market conditions, and seek professional advice to make well-informed investment decisions in Ogden's real estate market
