"How's the market" is a question I hear a lot, so let's take a look at what's going on in Belmont, a city with roughly 26,700 residents:
As of Thursday, on our Multiple Listing Service we had:
Single Family Homes:
- 5 Active listings, with a median list price of $1,488,000
- 18 Pending sales
- 26 Closed sales in the last 30 days, 25 of which sold for over asking
- 0 Active listings
- 3 Pending sales
- 4 Closed sales in the last 30 days; 3 sold over asking; 1 at asking
We're definitely in a strong sellers' market, and definitely need more inventory to accommodate the demand from buyers.
Our local economy is strong and growing; demand from Pacific Rim countries continues.
In short, people want to live here and we need housing for them.