Market Conditions for Belmont, Massachusetts Reported by David Gordon, REALTOR, Accredited Buyers Representative, Senior Real Estate Specialist, Certified Negotiation Specialist, Certified New Homes Specialist, Diamond Society Award Winner Updated June 17, 2008.

Current Market Rating: 3 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 3 1 2 3 4 5 Falling Rising

Don't believe what you are hearing out there. Visit www.4MassRealEstate.com for a free MarketSnapshot as of today for any community in Massachusetts.

Below you will find actual statistics to help you no matter if you are buying or selling. The dynamics out there are always changing so always feel free to contact me directly at 617-480-5480 for the latest information or email me at David.Gordon@NEMoves.com.

Contrary to what people are reading in the paper and seeing in the news, new properties coming to market that are positioned correctly are selling quickly and many with multiple offers. This is something we have not seen in a while, is unexpected, but shows us that there is a lot of pent up demand from buyers who have remained on the sidelines over the last year or so waiting to see what the market does. Still, today's market presents opportunities for Buyers while it is imperative for Sellers to position their property properly from the start or risk not getting the best price possible.

One thing to remember is that the market is driven by basic economics, supply and demand. When supply is high prices will go or trend downwards and vice-versa. Contrary to popular belief, the pool of buyers out there does tend to remain fairly constant, it is the level of housing inventory that effects price and pricing trends in the market.

Believe it or not, real estate is a commodity like a stock, although an emotional commodity unlike anything out there, and continues to trade (buy and sell) at the market price. If a price is asked higher than what the market believes it won't be sold or bought, a little like gold. The price of gold goes up and down and is bought and sold consistently just like homes, but if a price asked is higher than the market price there will be no takers, no matter how much advertising you put behind it.

As of June 17, 2008 and according to MLS, Belmont had for sale: 46 Single Family homes (down from 64 1 year ago) ranging from $389k to $2.9 million, a median price of $829k, average price of $1.02 million, averaging 69 days on the market; 36 Condos (down from 67 1 year ago) ranging from $249k to $1.275 million, median price of $449k, average price of $608k, averaging 176 days on market; 14 Multi-Family homes from $529k to $849k; median price $644k, average price of $662k, averaging 167 days on the market.

Sales for the month of May, according to MLS, were: 8 single family homes, median price $657k, average sale price $781k ranging from $420k to $1.39 million, averaging 44 days on market and selling at 97% of original offer price; 9 condos, median price $335k, average price $362k averaging 106 days on market, selling for 95% of original offer price; 5 Multi-Family units, median price $696k, average price $593k, averaging 49 days on market, selling for 94% of original offer price.

If you are a seller, you need to position your property correctly at the start to net top dollar before the market perceives your property as stale and overpriced. Buyers need to know when opportunity presents itself and be ready to react. Properties that are priced right are selling in hours or a day or two...

No matter if you are buying or selling, feel free to call me on my direct line at 617-480-5480 for more information, insight or to help you accomplish your goal of buying or selling at the very best price possible!



Location Characteristics: Located approximately 7 miles northwest of Boston, the Town of Belmont is a desirable and welcoming community that retains its small town charm within a larger metropolitan area. Just minutes from Boston, a commuter rail stop, and access to the "T" Belmont is ideally situated whether you are commuting to Boston or the Western suburbs.

Highly regarded schools make Belmont a very desirable town and has fueled it's continues growth. Belmont also offers thriving business centers, wonderful restaurants and shops that still retain that small town charm but worldly sophistication.


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