Belmont 4th Quarter Market Overview (2014)

I would like to invite you to preview the single family home market overview for Belmont in the 4th quarter of 2014 versus the 4th quarter of 2013. Please find below a table of sales data showing you the comparison.

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Single family home price in Belmont remained significant higher in the 4th quarter of 2014. Both the average list price and the average sales price in the 4th quarter of 2014 were 15% higher than the 4th quarter of 2013. Belmont’s overall average sale price per sq ft increased 10% from $653 per sq ft in 4th quarter of 2013 to $719 per sq ft in 4th quarter of 2014.
The average sales price in Belmont for the 4th quarter of 2014 was $1,315,723 versus $1,140,186 in 4th quarter of 2013, which was an increased by 15%. The median sales price in Belmont also increased by 18% for the 4th quarter of 2014 at $1,300,000 versus $1,099,500 in 4th quarter of 2013.

The number of sales transactions in Belmont decreased by 35 % from a total of 68 sales transactions during the 4th quarter in 2013 to 44 sales transactions during the 4th quarter in 2014.
The highest price home sold in the 4th quarter of 2014 in Belmont was $2,100,000 whereas the highest price home sold in the 4th quarter of 2013 was $1,935,800. The lowest price home sold in the 4th quarter of 2014 in Belmont was $855,000 and the lowest price home sold in the 4th quarter of 2013 was $649,500.

For those of you who are not familiar with the MLS area, Belmont consists of 5 MLS areas:
Area 360 – Belmont Country Club
Area 361 – Haskin Estate
Area 362 – Belmont Woods
Area 363 – Carlmont
Area 364 – Homeview
Here’s a map of the Belmont neighborhood:

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TOP PERCENTAGE GAIN IN AVERAGE SALES PRICE in the 4th quarter of 2014 in Belmont

Haskin Estate (MLS area 361) had the highest percentage gain sale of 19% in average sales price. $1,388,971 in 4th quarter of 2014 versus $1,167,504 in 2013. Belmont Country Club (MLS area 362) had the second highest percentage gain of 15 % in average sales price. $1,221,220 in 4th of 2014 versus $1,061,161 in 2013. Belmont Woods (MLS area 360) had the third highest percentage gain of 9% in average sales price. $1,415,286 in 4th of 2014 versus $1,297,682 in 2013.

TOP  VALUATION PER SQUARE FEET in the 4th quarter of 2014 in Belmont

In the 4th quarter of 2014, the neighborhood Haskins Estate (MLS area 361) has the highest price sold per sq ft – $1,048 per sq ft (2608 Read Ave). This property offers a single level living area with 3 bedrooms and 2 full baths on a 9,400 sq lot, built in 1951 – this home has a total of 920 sq ft of interior living area.
The second highest price sold per square feet is in the Belmont Country Club neighborhood (MLS area 362) which was sold at $1,005 per sq ft (1124 Villa Ave). 1124 Villa Ave is a remodeled home with 2 bedrooms, 1 baths, and a 1,060 sq ft interior on a 5,500 sq ft lot. It sold for $1,065,000, which was 14% above list price.
The third highest price sold per square feet is again in Haskin Estate (MLS area 361) which was sold at $957 per sq ft (2626 Barclay Way). Sold for $1,378,000, this one story home in its original condition that features 4 bedrooms, 2 baths with a 1,440 interior sq ft on a 17,000 sq ft lot.

THE TOP NUMBER OF SALES TRANSACTIONS
In the 4th quarter of 2014, Haskin Estate has 17 sales transactions, Belmont Country Club has 15, and Belmont Woods has 7.

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