Belmont Market Overview | 3rd Quarter 2015

I would like to invite you to preview the single family home market overview for Belmont in the 3rd quarter of 2015 versus the 3rd quarter of 2014. Please find below a table of sales data showing you the comparison.

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As compared to last year’s 3rd quarter, single family home prices in Belmont continue on an upward momentum in the 3rd quarter of 2015. This is evident as we look at the average sales price which increase 21% in the 3rd quarter of 2015 as compared to the 3rd quarter of 2014. Next the median sales price which shows a significant increase of 16% in 3rd quarter of 2015 versus 2014. There is slight decrease in the total Sales Volume between 3rd quarter of 2015 ($88.23 Million) vs. 3rd quarter of 2014 ($102.37 Million), and the the number of sales transactions drop from 75 transactions in 3rd quarter of 2014 to 58 transactions in 3rd quarter of 2015. The highest price home sold in the 3rd quarter of 2015 in Belmont was $2,300,000, and the lowest price home sold in the 3rd quarter of 2015 in Belmont was $950,000.

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 3rd quarter of 2015 in Belmont

Homes in the neighborhood area of Homeview (MLS area 364) has the highest percentage gain in average sales price of 30%, an increase from $910,000 in 3rd quarter of 2014 to $1,180,500 in 3rd quarter of 2015. Haskins Estate neighborhood (MLS area 361) and Belmont Country Club neighborhood (MLS area 362) are tied for second highest percentage gain at 18% in average sales price. The third highest percentage gain is the Carlmont neighborhood (MLS area 361) which has a gain of 15% in average sales price.

TOP VALUATION PER SQUARE FEET 3rd quarter of 2015 in Belmont

In the 3rd quarter of 2015, Homeview neighborhood (MLS area 364) has 2 of the top 3 highest price homes sold per sq ft.

No.1 – 614 Hiller St with 1,010 sqft of living area on a 7,750 sqft lot featuring 3 bedrooms and 1 full bath which was sold for $1,300,000, at $1,287 per sq ft.
No.2 – 1514 Pine Knoll Dr, located in Belmont Country Club neighborhood (MLS area 362) which features a 1,280 sqft living area on a 6,720 sqft lot with 2 bed and 1 full bath – was sold for $1,500,000 which is $1,172 per sq ft.
No.3 – 410 Hiller St was sold for $1,150,000, at $1,139 per sqft with 3 bedrooms and 1 full bath at 1,010 sqft on a 5,000 sqft lot.

THE TOP NUMBER OF SALES TRANSACTIONS

In the 3rd quarter of 2015, Haskins Estate neighborhood had the most number of sales transactions at 20; followed by Belmont COuntry Club with 18 sales transactions and tied at third were Belmont Wood & Homeview with 8 sales transactions each.

 

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