Snapshot of single family home sales in Belmont, California

Snapshot of single family home sales in Belmont, California

Comparing what took place in the market in July, 2010 (the latest month for which statistics are available) with July, 2009 provides a fascinating glimpse of reality in the Belmont, California, housing market.

For single-family homes:

  1. Home inventory is up approximately 25%. There were 71 homes for sale in July 2010; only 57 for sale in July 2009
  2. Number of closed sales is lower. 19 homes closed in 2010; 24 in 2009
  3. Average days on market dropped:  27 days average in 2010; 34 days in 2009
  4. Average sales price approximately the same: $916,368 in 2010; $914,650 in 2009
  5. Percent of list price received is also similar: 100.69% in 2010; 97.72% in 2009.

As you can see, the most significant change is in the number of properties on the market. Homes are selling, but pricing and presentation are key.

These figures were taken from data in our Multiple Listing Service. August statistics will be available soon and will be posted then.

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 10 commentsLottie Kendall • September 06 2010 10:53AM

Comments

Very detailed report, I do appreciate you sharing your market area report with us.

Posted by Anthony Stokes-Pereira, Realtor (Better Homes and Gardens Rand Realty) over 9 years ago

thanks for the information...let's me know what is happening around me.....

Posted by Earl Miller, Solano County, Contra Costa,Benicia Real Estate, 707-280-6366 (Coldwell Banker Solano Pacific) over 9 years ago

Anthony, I'd glad you found this report of interest. Wishing you well in your area.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Earl, glad you found this information useful. I've posted similar stats for San Carlos (next door to Belmont) that are entirely different! And the market for single family homes is very different than for condos/townhouses. Real estate definitely is local!

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Lottie, we all need to prepare reports like this in an effort to remind everyone that real estate is local.  Thanks.

Posted by Mary Kay Hopkins, e-PRO,GRI,CRS (Mary Kay Hopkins, LLC e-PRO, GRI, CRS, CRB) over 9 years ago

When preparing these types of reports, Mary Kay, I'm always reminded of how very local real estate is. San Carlos and Belmont are similar towns, but the real estate activity isn't.

 

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Hi Lottie!  I want to move to Belmont CA!  Your sales are down just about 25% but, they're holding their own in pricing and your DOM are next to nothing compared to ours!  Great report too!

Hope you have a wonderful week...

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 9 years ago

Lottie

It is definitely local. I am wondering how is the forclosure rate in your area right now?

Posted by Trey Thurmond, College Station , Texas Homes (BCR Realtors) over 9 years ago

Hi Debe - all in all, our market is fairly stable. But, buyers demand homes in top condition and priced to sell.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

Hello Trey. We've been more fortunate than most other areas of California. The condo market was hit the hardest with short sales and foreclosures, although we're seeing some in market segments. Many Option-ARM loans were written on our relatively high-priced area, which is cause for concern.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 9 years ago

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