Med $/SqFt for Multi-Unit Unchanged YTD

Ogden 8 Property Portfolio Listed for 2.4M; Cedar City Duplex Sells for $175k/unit; Renting on the Rise in America

Author

David Robinson
March 26, 2025

Featured Listings

> Click images below to view details and run cash flow analysis.

Canovo Group may not be the listing brokerage for the above properties. The information provided is not guaranteed and should not be relied upon to make investment decisions. Buyers should complete their own analysis and due diligence before making any investment.

Utah Market Data

> Sold Multi-Unit Listings This Week

> Multi-Unit (2+ Units) - Year to Date Data

  • Median Price/SqFt: The median price per square foot for multi-unit properties has decreased slightly by 0.43%, from $246 to $245.

  • Sold Volume: The total volume of multi-unit properties sold has seen a significant decrease of 11.65%, from 103 units sold last year to 91 units sold this year.

> Single Family Homes - Year to Date Data

  • Median Price/SqFt: The median price per square foot for single-family homes has increased by 2.34% year-to-date, going from $228 to $233.

  • Sold Volume: The total volume of single-family homes sold has decreased by 6.95%, dropping from 7,352 to 6,841 homes sold year-to-date.

Rates & Financing

> Mortgage Rates as of 3/26/2025

Rent Report for Bountiful, 84010

Headlines & Insights

Utah

Legislative Actions on Utah's Housing Affordability – Utah lawmakers have passed a series of bills aimed at addressing housing affordability, including measures to increase housing supply and reduce development barriers.

Federal Lands Unlocked for Utah Housing – Utah Gov. Spencer Cox applauds a new Trump administration initiative allowing residential development on federal lands, aiming to significantly ease Utah’s housing affordability crisis. The move, aligning with Sen. Mike Lee's proposed HOUSES Act, addresses Utah’s severe home shortage by potentially opening thousands of federally controlled acres for development.

National

Builders Offer Incentives Amid Fears of Housing Market Pullback – Home builders are providing increased incentives, such as price cuts and mortgage-rate buydowns, to attract buyers amid concerns over potential declines in demand. ​

Renting on the Rise in America – America's renter households grew by 0.8% in the fourth quarter, matching homeowner growth rates for the first time in a year. High home prices and changing lifestyle preferences are driving increased demand for rentals, particularly among affluent renters in expensive coastal cities.

CRE Debt Crisis: Extend-and-Pretend Hits Record – Lenders extended a record $384 billion in commercial real estate loans into 2025, highlighting ongoing refinancing struggles at higher interest rates. Multifamily and office sectors lead the extensions, signaling delayed—but inevitable—distress and potential foreclosures ahead.

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David Robinson

Principal Broker/Managing Partner

Whenever you’re ready, there are a couple of ways I can help you:

  1. Buy The Best Multi-Unit Properties in Utah:
    Work directly with our team to find, finance, buy and manage the best multi-unit properties in Utah (2-50 units) to grow your wealth.

  2. Sell Your Multi-Unit Property for Top Dollar:
    We’ll strategically position your multi-unit property for full market exposure, extract maximum value, and streamline the sales process.