Is Belmont, MA 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, MA
How much do homes in Belmont, MA cost?
Median Sold Price
$1,305,000
$594/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Belmont have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in Belmont was $1,305,000 in May 2024, up 5.7% from last year, and the median price per square foot was $594.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $410K | $485K | +18.3% |
| 2 Bedrooms | $660K | $684.5K | +3.7% |
| 3 Bedrooms | $1.1M | $1.2M | +11.2% |
| 4 Bedrooms | $1.3M | $1.5M | +21.7% |
| 5+ Bedrooms | $1.4M | $1.7M | +15.6% |
Summary: Belmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.3%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 11.2%, 4 bedroom homes increased by 21.7%, and 5+ bedroom homes increased by 15.6%.
Median Sold Price Compared To Nearby Cities
| Waltham | $712.5K | $788K | +10.6% |
| Belmont | $1.2M | $1.3M | +5.7% |
| Arlington | $975K | $1.0M | +4.9% |
| Watertown Town | $796K | $815K | +2.4% |
| Watertown | $797.5K | $815K | +2.2% |
Housing Supply in Belmont, MA
How many homes are available in Belmont, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 71 | 84 | +18.3% |
Summary: The Belmont real estate market had 84 homes for sale in May 2024, a 18.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 11 | 9 | -18.2% |
| 3 Bedrooms | 16 | 21 | +31.3% |
| 4 Bedrooms | 23 | 30 | +30.4% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
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 18.2%, 3 bedroom homes increased by 31.3%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 25 | +47.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Belmont, you could pay more than the asking price. 68% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Belmont in May 2024, up by 47.1% month-over-month. Of the 25 sold homes, 28% were sold under asking, 4% were sold at asking, and 68% were sold over asking.
Days on Market for Belmont, MA
How long does it take to sell a home in Belmont, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 26 Days | +7.4% |
Summary: Homes in Belmont had an average of 26 days on market in May 2024, up by 7.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 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, 25 homes were sold in Belmont; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
