Is Belmont, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$58,000
$44/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Belmont was $58,000 in March 2024, down 17.1% from last year, and the median price per square foot was $44.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $45K | $38K | -15.6% |
3 Bedrooms | $70K | $58K | -17.1% |
4 Bedrooms | $69.4K | $94.7K | +36.5% |
5+ Bedrooms | $850K | $160K | -81.2% |
Summary: Belmont housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 17.1%, 4 bedroom homes increased by 36.5%, and 5+ bedroom homes decreased by 81.2%.
Median Sold Price Compared To Nearby Neighborhoods
Harmony VIllage | $70K | $68.3K | -2.4% |
Upper West | $87.4K | $85K | -2.8% |
Grandmont | $89K | $84.7K | -4.8% |
North | $130K | $120K | -7.7% |
Belmont | $70K | $58K | -17.1% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 16 | +14.3% |
Summary: The Belmont real estate market had 16 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 7 | 10 | +42.9% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Belmont housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 42.9%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in Belmont in March 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 142 Days | +231.8% |
Summary: Homes in Belmont had an average of 142 days on market in Mar 2024, up by 231.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 3 homes were sold in Belmont; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.