Month-over-Month Changes

In November 2023, the Belmont real estate market exhibited significant changes compared to October 2023:

  • Homes Sold: There was a 45% increase, with 16 homes sold in November compared to 11 in the previous month.
  • Median Sale Price: Remained stable with no significant change from the previous month.
  • Days on Market (DOM): Decreased to 10 days in November, down from 14 days in October.
  • Percentage of List Price Received: Sellers received 108% of their asking price in November, up from 103% in October.

Analysis

The month-over-month data for Belmont shows a robust increase in market activity, with a significant rise in the number of homes sold. The stable median sale price, combined with a decrease in DOM and an increase in the percentage of list price received, indicates a strong seller’s market with high demand.

Year-over-Year Comparison

Comparing November 2023 to November 2022, the Belmont market shows the following changes:

  • Homes Sold: Increased by 78%, from 9 homes in November 2022 to 16 in November 2023.
  • Median Sale Price: Rose from $1.72M in November 2022 to $2.01M in November 2023.
  • Days on Market: Decreased from 14 days in November 2022 to 10 days in November 2023.
  • Percentage of List Price Received: Improved from 100% in November 2022 to 108% in November 2023.

Analysis

Year-over-year, Belmont’s real estate market has experienced a significant increase in the number of homes sold and a rise in median sale prices, indicating a growing market. The decrease in DOM and the increase in the percentage of list price received further suggest a strong seller’s market.

Price Points and Quadrants

The sales data for November 2023 in Belmont, broken down by quadrants, reveals:

  • Top Quadrant: 4 homes sold, Median Sale Price: $3,141,944, Median DOM: 11, Avg. $/Sq.Ft.: $1,297.
  • Second Quadrant: 4 homes sold, Median Sale Price: $2,245,000, Median DOM: 11, Avg. $/Sq.Ft.: $1,192.
  • Third Quadrant: 4 homes sold, Median Sale Price: $1,810,000, Median DOM: 7, Avg. $/Sq.Ft.: $1,099.
  • Bottom Quadrant: 4 homes sold, Median Sale Price: $1,551,000, Median DOM: 11, Avg. $/Sq.Ft.: $1,146.

Analysis

The quadrant data for Belmont in November 2023 shows a balanced distribution of sales across all price ranges. The top and second quadrants, representing higher-priced homes, have comparable DOM and sale prices, indicating consistent demand across different market segments.

Conclusion

The Belmont market in November 2023 demonstrated a significant increase in homes sold both month-over-month and year-over-year. The stable median sale price and shorter DOM indicate a strong market, particularly for sellers. The quadrant data provides insights into the diverse demand across different price segments, with a healthy market movement in all quadrants.

Data provided by MLSListings and is deemed reliable but not guaranteed.