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
At the same time last year, Belmont was a Seller's Market.
Housing Prices in Belmont, MI
How much do homes in Belmont, MI cost?
Median Sold Price
$433,000
$244/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Belmont was $433,000 in March 2024, down 1.7% from last year, and the median price per square foot was $244.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $432.4K | $405K | -6.3% |
3 Bedrooms | $382.7K | $335K | -12.5% |
4 Bedrooms | $441K | $576K | +30.6% |
5+ Bedrooms | $640K | $562.5K | -12.1% |
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 6.3%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 30.6%, and 5+ bedroom homes decreased by 12.1%.
Median Sold Price Compared To Nearby Cities
Comstock Park | $286.9K | $301.7K | +5.2% |
Plainfield Charter Township | $344K | $360.1K | +4.7% |
Cannon Township | $437.8K | $450K | +2.8% |
Algoma Township | $399.9K | $400K | 0.0% |
Belmont | $440.5K | $433K | -1.7% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
20 | 25 | +25.0% |
Summary: The Belmont real estate market had 25 homes for sale in March 2024, a 25.0% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 1 | 7 | +600.0% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 7 | 5 | -28.6% |
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 600%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 1 | -83.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Belmont in March 2024, down by 83.3% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% 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 |
---|---|---|
360 Days | 19 Days | -94.7% |
Summary: Homes in Belmont had an average of 19 days on market in Mar 2024, down by 94.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 1 homes were sold in Belmont; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.