Is Belmont, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Belmont has remained a Seller's Market.
Key Takeaway
Belmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Belmont, CA
How much do homes in Belmont, CA cost?
Median Sold Price
$2,116,500
$1,229/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Belmont have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in Belmont was $2,116,500 in May 2024, up 5.8% from last year, and the median price per square foot was $1,229.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $560K | $570K | +1.8% |
| 2 Bedrooms | $1.3M | $1.4M | +4.2% |
| 3 Bedrooms | $1.9M | $1.9M | +1.1% |
| 4 Bedrooms | $2.4M | $2.7M | +9.2% |
| 5+ Bedrooms | $2.7M | $3.6M | +34.3% |
Summary: Belmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 9.2%, and 5+ bedroom homes increased by 34.3%.
Median Sold Price Compared To Nearby Cities
| Foster City | $1.5M | $1.7M | +9.5% |
| Belmont | $2.0M | $2.1M | +5.8% |
| Redwood City | $1.7M | $1.8M | +4.7% |
| San Mateo | $1.4M | $1.5M | +4.5% |
| San Carlos | $2.0M | $2.1M | +2.1% |
Housing Supply in Belmont, CA
How many homes are available in Belmont, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 66 | +22.2% |
Summary: The Belmont real estate market had 66 homes for sale in May 2024, a 22.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 9 | 7 | -22.2% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 13 | 22 | +69.2% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Belmont housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 22.2%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 69.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Belmont, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Belmont in May 2024, down by 4.8% month-over-month. Of the 20 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for Belmont, CA
How long does it take to sell a home in Belmont, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +18.8% |
Summary: Homes in Belmont had an average of 20 days on market in May 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Belmont are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Belmont; 70% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.