Prices of single-family homes in Belmont California, like most towns on the San Francisco Peninsula and Silicon Valley, rose significantly in 2013. A particular challenge to buyers was the lack of homes for sale, and the still competition from other buyers. The local economy is very robust, which shows in the number of well-qualified buyers, actively looking to purchase a home.
So, how did the list prices compare to the sales prices for a home in Belmont, California, in 2013? This list shows the average for each month of 2013. When the average sales price is 7%, 8%, 10%, 11% over asking, you know just how competitive the market is.
What does 2014 hold in store for home prices in Belmont, CA? There is no way to know, but as of January 22 there are only 6 single-family homes offered for sale on the Multiple Listing Service; 9 home sales are pending.
Homeowners, if you've been wondering about selling, give me a call and let's talk to see if now is the right time for you.
Buyers, don't be discouraged; be prepared. Armed with knowledge, you'll be in a good position to have your offer accepted. Two of the 2013 sales reflected in the chart above were buyers I helped; they are now settling into their homes, happy to be part of their community of choice and moving forward with their lives. You can achieve that same outcome in 2014. Contact me if I can be of help to you.