How's the market for single family homes in Belmont, CA 94002?

How's the market for single-family homes in Belmont, CA 94002?

Last week I did an analysis of the condominium/townhouse market in downtown Palo Alto, California for a client. The results were fascinating--the price drop between 2007 and 2010 year to date was quite small, less than 5%.

So, that prompted me to check other market segments in towns in San Mateo County and the Silicon Valley where I have listings or have helped buyers this year.

Here's what I discovered about one particular area in Belmont, CA:

Belmont home sales, statistics 2007-2010 YTD

The median price of these Belmont, California homes has declined less than 3% between 2007 and 2010 to date!
Although that market has slowed in the last couple of months, the prices remain strong and the overall result has been good, and lends credence to what I've long counseled buyers: if you think you'll be in the house for around 5 years, you should be fine economically; anything shorter than 3 is a gamble.

If you have similar questions about your area, the spot you call home in the mid-Peninsula or Silicon Valley, I'm here to help.

--- 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 5 commentsLottie Kendall • September 21 2010 11:20PM

Comments

Lottie - That is very good stats..prices remaining strong is very encouraging.

Posted by Linda Scofield about 9 years ago

Hi Linda - it IS encouraging. Numbers of transactions are down, but prices are doing all right!

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

Great post! We all know that market reports are great information for buyers and sellers, educating them about current neighborhood trends!

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

Anthony, thanks for stopping by. I hope this informaiton reaches buyers and sellers in Belmont, CA. Every neighborhood is different, as we know. Hope yours is doing well, too.

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

Buyers and sellers in Belmont, CA should be very grateful to you for this thoughtful analysis, Lottie!

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

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