Belmont Home Values & Market Update
 Home    Belmont Home Values & Market Update

Updated April 23, 2018

Market Snapshot – Belmont (Recent Sales here)

Belmont continues to mirror the overall market trend in the Bay Area, with rising sale prices and extremely limited and declining inventory. It marked the sixth straight year for higher sales prices for both single family homes and condo/townhomes.

The current Bay Area real estate market hinges on an extremely low supply of homes. This low inventory, combined with strong demand among home buyers, is largely responsible for the continued appreciation across most price points and markets. According to Trulia’s Chief Economist Ralph McLaughlin, this isn’t a bubble as we’ve seen in previous up cycles, but the result of basic economic forces of (lack of) supply and (strong) demand. Multiple forces are keeping home inventory low. There aren’t enough new homes being built to meet increasing demand. Additionally, current California property tax code provides a strong financial incentive for long-term homeowners to stay in their existing homes. McLaughlin also notes that the new congressional tax plan with its lower cap on the mortgage interest deduction may act to further limit supply. Under the new law, the cap on the mortgage interest deduction is reduced from $1 million to $750,000. Existing homeowners are grandfathered in at the $1 million level, giving them even more incentive to stay put.

Finally, the Fed raised interest rates in March, which will likely impact mortgage rates. Higher mortgage rates reduce buying power. Between reduced buying power and increasing prices, time is not on the side of buyers right now. Those who are ‘waiting it out’ may be waiting a long time.

Here are the numbers for March 2018. If you are curious about your Belmont home value, you can receive a free online estimate, or request a custom evaluation which we are happy to give to you, free, without the hard sales pitch.

Mar-18 % Change Year Over Year Rolling 3 Month Average
Median Sales Price ($USD) $1,800,000 15.0%
Overbids (%) 115.50% 7.4%
New Listings (#) 21 4.44%
Homes Sold (#) 15 0.00%
Months of Inventory 0.6 -21.88%
Median Days on Market (DOM) 8 0.00%
Average Days on Market (DOM) 10 -42.25%

Median Sales Price – Belmont SFR

Percentage Overbid – Belmont SFR

New Listings & Sold Homes – Belmont SFR

Current Inventory – Belmont SFR

Days on Market (DOM) – Belmont SFR

 

Belmont Single Family Home Closed Sales since 1/1/2018

Street Address Close Date Price/SqFt Sale Price RATIO Close Price By List Price DOM Beds Total Bths Sq Ft Total Lot Size
1302 ACADEMY Avenue 2/1/18 1,094.34 $2,320,000 1.289 6 4 2|1 2,120 7,470 Lot SqFt
2620 Barclay Way 4/10/18 1,011.90 $1,700,000 1.215 10 3 2|0 1,680 8,520 Lot SqFt
1828 Bayview Avenue 2/28/18 798.7 $1,845,000 1.014 20 5 3|0 2,310 6,000 Lot SqFt
1181 Broadway 1/2/18 1,006.22 $1,400,660 1.432 15 3 1|1 1,392 5,000 Lot SqFt
309 Chesterton Avenue 4/5/18 1,383.21 $1,895,000 1.46 11 3 2|0 1,370 6,240 Lot SqFt
2203 Cipriani Boulevard 3/6/18 1,743.46 $1,473,225 1.188 13 2 2|0 845 7,500 Lot SqFt
2404 Cipriani Boulevard 2/12/18 1,296.88 $1,660,000 1.267 8 3 1|0 1,280 5,565 Lot SqFt
2757 Comstock Circle 3/30/18 862.5 $2,760,000 0.986 17 5 3|1 3,200 10,496 Lot SqFt
2212 Coronet Boulevard 1/10/18 1,228.35 $1,560,000 1.202 10 2 2|0 1,270 6,300 Lot SqFt
1607 Fairway Drive 4/4/18 1,457.36 $1,880,000 1.255 11 3 1|1 1,290 6,150 Lot SqFt
1080 Granada Street 2/28/18 1,289.47 $1,470,000 1.226 13 3 1|0 1,140 4,968 Lot SqFt
1241 Granada Street 1/12/18 872.75 $1,550,000 1.197 11 3 2|0 1,776 4,968 Lot SqFt
219 Hiller Street 4/6/18 1,148.65 $1,700,000 1.309 4 3 2|0 1,480 5,000 Lot SqFt
300 Hiller Street 3/20/18 1,017.34 $1,760,000 1.101 5 3 2|0 1,730 5,148 Lot SqFt
322 Hiller Street 3/12/18 1,323.08 $1,720,000 1.433 13 3 1|0 1,300 6,000 Lot SqFt
608 Hiller Street 3/1/18 920.1 $1,785,000 1.194 7 4 2|1 1,940 6,798 Lot SqFt
1633 King Street 1/3/18 798.94 $1,502,000 1.202 11 3 2|1 1,880 5,800 Lot SqFt
3401 Lodge Drive 4/16/18 811.48 $2,475,000 1.054 12 5 4|0 3,050 12,275 Lot SqFt
1915 Lyon Avenue 1/3/18 1,150.44 $1,300,000 1.04 8 3 2|0 1,130 4,300 Lot SqFt
503 Marine View Avenue 4/6/18 1,584.16 $1,600,000 1.236 4 3 1|0 1,010 5,500 Lot SqFt
1015 Maywood Drive 3/13/18 1,475.41 $1,800,000 1 0 3 2|0 1,220 7,930 Lot SqFt
2024 MEZES Avenue 2/28/18 837.8 $2,500,000 1.064 8 4 3|0 2,984 14,500 Lot SqFt
800 MIRAMAR Terrace 1/9/18 1,039.22 $2,650,000 1.078 8 4 3|0 2,550 9,600 Lot SqFt
1624 Molitor Road 3/2/18 1,305.15 $1,775,000 1.203 7 3 1|0 1,360 5,950 Lot SqFt
3700 Naughton Avenue 2/22/18 1,028.73 $1,862,000 1.095 6 3 2|1 1,810 12,500 Lot SqFt
1235 North Road 2/12/18 786.95 $2,050,000 1.139 10 5 3|1 2,605 7,109 Lot SqFt
3403 Plateau Drive 3/28/18 1,422.13 $1,735,000 1.197 7 3 2|0 1,220 5,900 Lot SqFt
2123 Pullman Avenue 3/14/18 1,010.28 $3,323,828 1.11 12 4 4|0 3,290 43,000 Lot SqFt
1523 Ralston Avenue 1/3/18 830.59 $2,525,000 0.971 45 4 3|0 3,040 18,180 Lot SqFt
517 Roxbury Way 4/4/18 876.47 $1,490,000 1 0 3 2|0 1,700 5,220 Lot SqFt
2803 San Juan Boulevard 3/12/18 1,178.08 $1,720,000 1.083 15 3 2|0 1,460 5,320 Lot SqFt
2816 San Juan Boulevard 3/20/18 1,000.00 $2,020,000 1.445 12 3 3|0 2,020 5,890 Lot SqFt
2904 San Juan Boulevard 1/30/18 905.82 $2,568,000 0.988 64 4 4|0 2,835 5,968 Lot SqFt
4219 Skymont Drive 3/8/18 1,273.97 $1,860,000 1.097 7 3 2|0 1,460 7,800 Lot SqFt
1509 Solana Drive 1/2/18 1,045.92 $2,050,000 1.242 8 3 2|0 1,960 7,020 Lot SqFt
615 SOUTH Road 4/12/18 1,428.57 $2,400,000 1.238 8 3 2|0 1,680 9,450 Lot SqFt
1424 Sunnyslope Avenue 3/2/18 989.74 $1,930,000 1.044 8 3 2|0 1,950 6,100 Lot SqFt
1209 Talbryn Drive 3/14/18 1,083.74 $2,200,000 1.103 8 4 2|0 2,030 13,908 Lot SqFt
1734 Terrace Drive 3/14/18 1,028.56 $2,115,750 1.144 14 3 3|0 2,057 18,900 Lot SqFt
2201 Thurm Ave 2/6/18 1,155.66 $2,450,000 1.196 13 4 3|0 2,120 12,200 Lot SqFt