How’s the Real Estate Market in Belmont?
For this Belmont, CA neighborhood market report, we’ll only look at homes in the Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont neighbohoods of Belmont, CA during the time period July 23, 2009 – October 23, 2009.
Belmont CA Neighborhoods Included in this Market Report
Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont. These neighborhoods belong to the Belmont Heights and Western Hills Belmont neighborhood associations.
Boundaries
Ralston Ave (north), Alameda de Las Pulgas (east), Highway 92/280 (west) and the northern border of the San Carlos (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 Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont
| Great Schools Rating | |
| Elementary School | |
| Fox School | 9 |
| 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 in Belmont Woods, Carlmont Village, Hallmark, Ralston Park, and The Knolls of Belmont Between 7/23/09 and 10/23/09.
| # of Homes Sold | Highest Price | Lowest Price | Median Price |
| 6 | $1,340,000 | $740,000 | $1,124,000 |
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 in | ||
| # of Homes Sold | Less than 30 Days | 31 Days or More |
| More than OLP | 1 | 0 |
| at OLP | 1 | 0 |
| Less than OLP | 1 | 3 |
Number of homes sold with and without price reductions.
| # of Homes Sold in | ||
| # of Homes Sold | Less than 30 Days | 31 Days or More |
| With Price Reductions | 0 | 2 |
| Without Price Reductions | 3 | 1 |
Taken off the market could mean Expired, canceled or Withdrawn. Exipred is when the listing period lapses without producing a sale, withdrawn or canceled is when the seller decides to remove the home from the market before the time period in the listing lapses.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 Homes Taken off the Market | ||
| # of Homes Taken Off the Market | Less than 30 Days | 31 Days or More |
| With Price Reductions | 0 | 1 |
| Without Price Reductions | 2 | 0 |
Active Listings = Number of homes currently listed for sale on the market
| # of Active Homes | ||
| # of Active Homes | Less than 30 Days | 31 Days or More |
| With Price Reductions | 0 | 1 |
| Without Price Reductions | 4 | 3 |
Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont Market Report Executive Summary
Days on the market is the key indicator to answer the question – How’s the Market? in the Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont neighborhood’s of Belmont CA.
Homes Sold Between July 23, 2009 and October 23, 2009
- 6 homes were sold
- 2 homes sold for at or more than the original list price
- Of the homes that sold at or over the list price, sellers received an average of 100% of their list price and an average of $1,000 over list price
- Each home that sold for more than the original list price was on the market for less than 11 days
- 3 homes sold without a price reduction in less than 30 days
- 4 homes sold for less than the original list price
- Of the homes that sold under the list price, sellers received an average of 93.8% of their list price and an average of $71,471 under their list price
- 3 homes were on the market for more than 30 days
- 2 homes had price reductions
- Homes with price reductions took more than 31 days to sell
Foreclosure Market: Short Sales and Bank Owned Homes
- No bank owned homes (REO’s) listed or sold
- 1 short sale on the market for 212 days closed escrow
The foreclosure market in the Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont neighborhoods in Belmont is virtually non-existent. The one short sale did not have any significant impact of the value structure of this market. The number of foreclosures for sale can negatively impact any market, but foreclosures are not a factor in this market’s composition.
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.
- 3 homes were taken off the market
- 2 were cancelled by the seller
- Of the 3 homes that were taken off the market, only 1 had tried a price reduction
- The one expired listing was on the market for 74 days without success
The slim number of cancelled, withdrawn and expired listings is indicative of a high demand market.
What Does the Market Data Mean to Buyers?
The Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont neighborhoods of Belmont is a statistically diverse area that enjoys a strong appeal due to the quality of Fox Elementary School and Ralston Middle School. Buyers are willing to pay more for better schools and the Hallmark area – in particular – remains a highly desirable area for that reason. Inventory levels in these neighborhoods in Belmont are usually low, reflecting the short supply of existing homes.
What Does the Market Data Mean to Sellers?
The bottom line is the Belmont, CA, in particular Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont, market is considered by most a high demand/high cost area. The mania of years past is past. Sellers must price their homes right the first time to get maximum value. In this group of homes, it seems most sellers did. Only 2 of the 6 homes sold had to reduce their price to get a sale.
Comparing the relationship between days on the market and original list price/sale price is an excellent indicator of the strength or weakness in a market. All real estate is local and we will continue to observe this truism.
What’s Going On Today?
- 8 homes are currently listed for sale ranging in price between $889,000 and $1,550,000
- 4 homes are priced over $1,000,000
- 1 home has had a price reduction
- 4 homes have been on the market for more than 29 days
The price range of homes for sale in this area is typically wide. The Hallmark neighborhood usually has the most expensive homes. We would expect to see 6-8 homes for sale in this market area with seasonal adjustments affecting the inventory levels.
There are currently 3 pending sales – homes under contract but not yet closed.
What’s Going on Today in the Foreclosure Market? Short Sales and Bank-Owned Homes
- There are no bank-owned homes (REO’s) currently for sale
- 1 short sale is currently on the market
The distressed property market in area 360 is virtually non-existent. Foreclosures are not a factor in the market’s value, composition or the overall resale activity in this area.
What’s Ahead?
We would expect the resale activity to slow – but not stop – as we approach the holiday season. Typically there are fewer serious buyers in the year’s 4th quarter so inventory levels will probably exceed levels seen in mid-year.
Would You Like More Information About These Belmont Neighborhoods?
Thanks for reading our real estate market report for the Belmont Woods, Carlmont Village, Hallmark, Ralston Park and The Knolls of Belmont 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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