Is Belmont, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Belmont has remained a Seller's Market.
Housing Prices in Belmont, MI
How much do homes in Belmont, MI cost?
Median Sold Price
$444,900
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Belmont was $444,900 in April 2024, up 1% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $432.4K | $405K | -6.3% |
3 Bedrooms | $360K | $340K | -5.6% |
4 Bedrooms | $441K | $580K | +31.5% |
5+ Bedrooms | $645K | $562.5K | -12.8% |
Summary: Belmont housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.3%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes increased by 31.5%, and 5+ bedroom homes decreased by 12.8%.
Median Sold Price Compared To Nearby Cities
Comstock Park | $286.9K | $301.7K | +5.2% |
Plainfield Charter Township | $345K | $360.1K | +4.4% |
Algoma Township | $399.9K | $410K | +2.5% |
Cannon Township | $445K | $451.5K | +1.5% |
Belmont | $440.5K | $444.9K | +1.0% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
27 | 28 | +3.7% |
Summary: The Belmont real estate market had 28 homes for sale in April 2024, a 3.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 6 | 5 | -16.7% |
3 Bedrooms | 7 | 10 | +42.9% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The Belmont housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 9 | +350.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Belmont in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for Belmont, MI
How long does it take to sell a home in Belmont, MI?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
7 Days | 35 Days | +409.5% |
Summary: Homes in Belmont had an average of 35 days on market in Apr 2024, up by 409.5% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Belmont; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.