Belmont Market Overview | 1st quarter 2015
I would like to invite you to preview the single family home market overview for Belmont in the 1st quarter of 2015 versus the 1st quarter of 2014. Please find below a table of sales data showing you the comparison.[table id=21 /]
As compared to last year’s 1st quarter, single family home prices in Belmont continue on an upward momentum in the 1st quarter of 2015. This is evident as we look at the average sales price which increase 7% in the 1st quarter of 2015 as compared to the 1st quarter of 2014. Next the median sales price which shows a significant increase of 17% in 1st quarter of 2015 versus 2014. There is slight decrease in the total Sales Volume between 1st quarter of 2015 ($45.7 Million) vs. 1st quarter of 2014 ($46.5 Million), and the the number of sales transactions drop from 37 transactions in 1st quarter of 2014 to 34 transactions in 1st quarter of 2015. The highest price home sold in the 1st quarter of 2015 in Belmont was $1,850,000, and the lowest price home sold in the 1st quarter of 2015 in Belmont was $850,000.
For those of you who are not familiar with the MLS area, Belmont consists of 5 MLS areas:
Area 360 – Belmont Country Club
Area 361 – Haskin Estate
Area 362 – Belmont Woods
Area 363 – Carlmont
Area 364 – Homeview
Here’s a map of the Belmont neighborhood:
TOP PERCENTAGE GAIN IN AVERAGE SALES PRICE in the 1st quarter of 2015 in Belmont
Homes in the neighborhood area of Carlmont (MLS area 363) has the highest percentage gain in average sales price of 17%, an increase from $1,230,000 in 1st quarter of 2014 to $1,385,000 in 1st quarter of 2015. Belmont Country Club (MLS area 362) has the second highest percentage gain of 11% in average sales price, $1,258,688 in 1st quarter 2014 versus $1,396,638 in 1st quarter of 2015. The third highest percentage gain is the Haskin Estates neighborhood (MLS area 361) which has a gain of 5% in average sales price from $1,287,893 in the 1st quarter of 2014 to $1,355,100 in the 1st quarter of 2015.
TOP VALUATION PER SQUARE FEET 1st quarter of 2015 in Belmont
In the 1st quarter of 2015, the neighborhood Belmont Country Club (MLS area 362) has 3 of the highest price homes sold per sq ft.
No.1 – 1904 Notre Dame Ave with 1,390 sqft of living area on a 5,000 sqft lot featuring 3 bedrooms and 2 full bath which was sold for $1,502,000, at $1,081 per sq ft.
No.2 – 904 Chevy St, which features a 1,510 sqft living area on a 6,732 sqft lot with 3 bed and 2 bath – was sold for $1,590,000 which is $1,052 per sq ft.
No.3 – 908 Ruth Ave was sold for $1,500,000, at $1,042 per sqft. This remodel home showcase a 3 bedrooms and 2 full bath at a1,439 sqft on a 5,500 sqft lot.
THE TOP NUMBER OF SALES TRANSACTIONS
In the 1st quarter of 2015, Belmont Country Club had the most number of sales transactions at 13; followed by Haskin Estates with 10 sales transactions and third was Carlmont with 5 sales transactions.
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