How’s the Real Estate Market in Belmont?
For this Belmont, CA neighborhood market report, we’ll only look at homes in the Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights and Notre Dame Park neighbohoods of Belmont, CA during the time period August 4, 2009 through November 4th, 2009.
Belmont CA Neighborhoods Included in this Market Report
Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights, Notre Dame Park. These neighborhoods belong to the Country Club and Central Belmont neighborhood associations.
Boundaries
El Camino Real (east), San Mateo City limits (north), Alameda de las Pulgas (west), Ralston Avenue (south)
Factoids About Belmont CA
In May, 2009, Belmont, California was ranked 11th on Forbes list of “America’s Top 25 Towns to Live Well.”
Schools Serving Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights and Notre Dame Park
| Great Schools Rating | |
| Elementary School | |
| Central School | 10 |
| Cipriani School | 9 |
| Middle School | |
| Ralston Middle School | 9 |
| High School | |
| Carlmont High School | 9 |
School boundaries change from year to year. To find out the boundaries, visit the Belmont-Redwood Schools School District website, http://brssd.org.
Carlmont High School and Ralston Middle School are located in Belmont and are both Distinguished California Schools.
Let’s Look at the Numbers
Number of homes sold with and without price reductions in Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights and Notre Dame Park Between August 4th, 2009 and November 4th 2009.
Note: PR = Price Reduction
| # of Bedrooms | # Sold | # Sold w/PR | Highest Price | Lowest Price |
| 5 | 1 | 1 | $690,000 | |
| 4 | 3 | 0 | $1,100,000 | $800,000 |
| 3 | 10 | 3 | $980,000 | $650,000 |
| 2 | 4 | 1 | $700,000 | $530,000 |
Number of homes sold for more, less or at the original list price in less than 30 days or in 31 days or more.
OLP = Original List Price, the price the home was listed for when it first came on the market
| # of Homes Sold on the Market 30 Days or Less | # of Homes Sold on the Market 31 Days or More | |||||
| # Bedrooms | < OLP | @ OLP | >OLP | < OLP | @ OLP | >OLP |
| 5 | 1 | |||||
| 4 | 1 | 2 | ||||
| 3 | 3 | 2 | 5 | |||
| 2 | 1 | 1 | 2 | |||
Number of homes on that were taken off the market during this time period. Taken off the market could mean expired, canceled or withdrawn. Exipred is when the listing period lapses without producing a sale, withdrawn or canceled is when the seller decides to remove the home from the market before the time period in the listing lapses.
| # of Bedrooms | # Homes | # Homes w/PR | Highest List Price | Lowest List Price |
| 5 | 1 | $1,850,000 | ||
| 4 | 3 | 3 | $1,749,000 | $1,248,000 |
| 3 | 5 | 3 | $1,088,000 | $749,000 |
| 2 | 0 |
Number of homes that were taken off the market during this time period that have been on the market 30 days or less and those that have been on the market 31 days or more at less than, equal to or greater than their original list price.
| # of Homes on the Market 30 Days or Less | # of Homes on the Market 31 Days or More | |||||
| # Bedrooms | < OLP | @ OLP | >OLP | < OLP | @ OLP | >OLP |
| 5 | 1 | |||||
| 4 | 3 | |||||
| 3 | 2 | 3 | ||||
| 2 | ||||||
Active Listings = Number of homes currently listed for sale on the market
| # of Bedrooms | # Homes | # Homes w/PR | Highest Price | Lowest Price |
| 5 | 2 | 1 | $1,695,000 | $1,170,000 |
| 4 | 11 | 7 | $1,299,888 | $949,000 |
| 3 | 7 | 4 | $924,888 | $688,000 |
| 2 | 7 | 3 | $835,000 | $620,000 |
Number of homes actively listed on the market for 30 days or less and 31 days or more at a price less than, equal to and more than their original list price.
| # of Homes on the Market 30 Days or Less | # of Homes on the Market 31 Days or More | |||||
| # Bedrooms | < OLP | @ OLP | >OLP | < OLP | @ OLP | >OLP |
| 5 | 1 | 1 | ||||
| 4 | 2 | 7 | 2 | |||
| 3 | 1 | 1 | 3 | 2 | ||
| 2 | 3 | 3 | 1 | |||
Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights and Notre Dame Park Market Report Executive Summary
Homes Sold Between August 4th, 2009 and November 4th, 2009.
- 18 single family homes closed escrow
- 18 of the 48 Belmont homes sold within past 3 months were located in the Central Area of Belmont
- Of the 52 homes sold in the Central Area of Belmont within the past 12 months, 18 (35%) sold within the past 3 months
- 5 of the 18 single family homes sold required a price reduction of the original listed price to attract a buyer
- The most expensive home sold for $1,100,000, while the most expensive pending sale is a home that had its price reduced to $1,048,000
- The median price of a single family in the Central Area of Belmont continues its gradual downward trend from its peak of $1,354,500 in the 4th quarter of 2007
- 10 of the 18 homes sold were on the market for more than 31 days and 9 of them sold for less than the original list price
Foreclosure Market: Short Sales and Bank Owned Homes
- The 2 bank owned homes listed and sold had virtually no impact on the overall pricing dynamics in the Central Area of Belmont
What about Homes that Did Not Sell?
These are homes whose listings were withdrawn, cancelled or expired. The market has rejected these homes based upon their location, condition and price.
- 9 listed homes were cancelled by the owners or had the listings expire even after 6 tried to match the market with price reductions
What about Homes that Have Sold But Haven’t Yet Closed (Pending Sales)?
These are homes who are under contract, but haven’t yet closed escrow.
- 5 of the 8 homes selling in less than 30 days sold for more than their original list price. There is a direct correlation between days on the market and % of the original list price received by the seller
- 4 of the 8 pending sales – newly initiated sale’s contracts – were on the market for more than 31 days and 3 of 4 pending homes saw owner’s reduce their price to secure a buyer
Homes Currently on the Market (Active Listings)
These homes are currently listed for sale and have not accepted a contract.
- 27 homes are currently listed for sale with 20 on the market for more than 31 days, and 14 already dropping their prices from the original list price
- 7 of the 11 homes on the market – $1,299,888 to $949,000 – have reduced their price without success
- Inventory levels are climbing. 32 homes are currently listed for sale, while only 9 homes are pending sales that have not yet closed escrow. This widening gap between pending sales and inventory suggest a market slowing down.
What Do the Market Statistics Mean to Belmont Home Sellers?
Price your Central Area Belmont home right the first time. The top of the market has declined – as reflected in the price of the expired and cancelled listings – from its peak. Sellers who have not come to grips with the new pricing structure will struggle. Buyers are comparison shopping and shopping hard as indicated by the 13 of 18 homes that sold for less than the original list price regardless of days on the market. Realistic pricing is the key to selling success – 5 of the 18 sold for more than the original list price – so homes priced right are selling and capturing over bids when buyers perceive a value. Value conscious buyers are lurking and will buy – 8 of 18 sold in less than 30 days – when they see a Central Area Belmont home worth the money.
What Do the Market Statistics Mean to Belmont Home Buyers?
Negotiate. More homes sold for less than the original list price than sold for more in the Central Area of Belmont. Several homes did not sell indicating buyers perceived them to be overpriced and the sellers were not sufficiently motivated to bring their prices into the “real world.” Central Area Belmont homes on the market for more than 31 days have a greater likelihood of selling for less than the original list price assuming ample seller motivation. So, as inventory climbs, buyers have more choices and sellers have more competition. Most sellers are not going to publicize their real bottom line, so the key to buying at the lowest price possible is negotiate.
Would You Like More Information About These Belmont Neighborhoods?
Thanks for reading our real estate market report for the Belmont Country Club, Antique Forest Homes, Bella Vista Gardens, Mezes Ranch, Notre Dame Heights and Notre Dame Park neighborhoods of Belmont, CA. If you have questions or would like more information about these neighborhoods in Belmont, please contact us at (650) 655-2500 or info[@]RayChelRealtyGroup.com.
Considering a Move to One of These Belmont Neighborhoods?
Check out our Buyer Representation page to learn how our Buyer Representation Program is All About You! Then, contact us at (650) 655-2500 or info[@]RayChelRealtyGroup.com and we’ll be happy to set up a no pressure, in person consultation to discuss how we may be able to help you buy right.
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Tags: Antique Forest Homes, Bella Vista Gardens, Belmont CA, belmont country club, Mezes Ranch, Notre Dame Heights, Notre Dame Park
Raymond Stoklosa, Broker/Co-Owner
Chela Stoklosa, Realtor/Co-Owner
