Belmont Real Estate Price Report

The following graphs represent data from under contract (aka pending sales) and sold single family homes in the city of Belmont only. Please click on the graph for a full browser view.

Median Sold Price of Single Family Homes in Belmont, CA Per Month

Chart Explanation: This chart shows the “middle” price point of single family homes in Belmont that have successfully Sold (i.e., closed escrow) each month, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good visual indicator of the direction market forces are moving prices.

The trend line is a series of measurements over time (e.g. months). A trend line can be a very helpful tool for indicating the overall direction during the time period involved. An upward sloping trend line indicates an increase the Median Sold Price for single family homes in Belmont; a downward sloping trend line indicates a decrease in the Median Sold Price; a flat trend line indicates there is very little change in the Median Sold Price.

The percentage columns in the grid below the chart compare the beginning month of the report time period to the ending month. The arrow points up if the change value is positive (shown in green text) and down if the change value is negative (shown in red text). A double-ended horizontal shape displays if there is no percentage change.

Median For Sale Price vs. Median Sold Price of Single Family Homes in Belmont, CA

This chart shows the median price of single family homes listed For Sale in Belmont (a measurement of seller expectations) compared with the median price of single family homes that have successfully Sold in Belmont, CA (a reflection of buyer activity) for each month during the last two years. The difference in these two median prices speaks volumes about how buyers and sellers perceive the same set of market conditions. In a balanced market most properties “sell” within 10% of their “final” list price (the one that draws the offer, not necessarily the original price). Thus, when the market strategic price difference is substantially greater than 10% it indicates that buyer and seller expectations are out of balance, i.e. they are not on the same page.

The chart subtitle clearly states the percentage change between the first month’s value and the last month’s value (notice they are the same month but in different years). This “same” month comparison over different years is a popular real estate “yardstick” because there is no “seasonality” involved in the measurement. Thus, any changes that have taken place are primarily due to market “forces”, i.e. the collective behavior of all consumers participating in the market.

Invoking the “linear” trend lines can be a very helpful for visualizing the overall direction that median For Sale and median Sold prices have been moving over the whole time period.

Converging trend lines indicate that buyer and seller expectations are moving towards one another. Diverging trend lines indicate that buyer and seller expectations are moving away from one another. Parallel trend lines indicate market stability.

The Number of Sold Single Family Homes in Belmont, CA by Month

Chart Explanation: This chart shows the number of single family homes in Belmont, CA sold (closed escrow) each month for the last 25 complete months. Belmont Real Estate Agents monitor this metric carefully to identify trends in the rate of demand for properties. An upward sloping trend line indicates an increase in what is being measured; a downward sloping trend line indicates a decrease in what is being measured; a flat trend line indicates there is very little change in what is being measured.

The Number of Single Family Homes For Sale in Belmont CA By Month

Chart Explanation: An upward sloping trend line indicates an increase in the Number of Single Family Homes in Belmont, CA for Sale; a downward sloping trend line indicates a decrease in the Number of Single Family Homes in Belmont, CA for Sale; a flat trend line indicates there is very little change in the Number of Single Family Homes in Belmont, CA for Sale.

The Number of Under Contract Single Family Homes in Belmont, CA by Month

Chart Explanation: This chart shows the total number of single family homes in Belmont, CA where a buyer and a seller have come to an initial agreement during each month for the last 25 complete months. These properties are considered “in escrow”. Belmont Real Estate Agents monitor the number of Single Family Homes Under Contract as an early indicator of changes in the level of demand for single family homes. Because single family homes can take 30 or 60 days to close escrow, the number of Single Family Homes in Belmont Under Contract is an early indication of changes to future demand as measured by “Number of Single Family Homes Sold”.

An upward sloping trend line indicates an increase in the number of Single Family Homes in Belmont, CA Under Contract; a downward sloping trend line indicates a decrease in the number of Single Family Homes in Belmont, CA Under Contract; a flat trend line indicates there is very little change in the number of Single Family Homes in Belmont, CA Under Contract.

The Number of New Single Family Homes Listed for Sale in Belmont, CA by Month

Chart Explanation: This chart shows the number of New Single Family Homes that came onto the Belmont real estate market for the first time each month for the last 25 complete months. Belmont Real Estate Agents monitor the Number of New Single Family Homes on the Market to identify any changes in the supply of properties. A large increase in supply can be an early warning that prices may fall (particularly when matched by any decrease in demand). Conversely, a significant drop in the number of New Single Family Homes in Belmont, CA for Sale may indicate a future increase in price levels.

An upward sloping trend line indicates an increase in the number of New Single Family Homes in Belmont, CA coming onto the market; a downward sloping trend line indicates a decrease in the number of New Single Family Homes in Belmont, CA coming onto the market; a flat trend line indicates there is very little change in the number of New Single Family Homes in Belmont, CA that have come onto the market.

Number of Expired Single Family Homes in Belmont, CA By Month

This chart shows the number of single family homes in Belmont, CA that expired and came off the market each month for the past 2 years. This metric (Number of Expired Listings) is an indicator of the “balance” between supply and demand in the Belmont single family home real estate market. When the number of expired listings is increasing over time it is a sign that prevailing market prices have shifted downward; when the number of expired listings is decreasing over time it is a sign that prevailing market prices have shifted upwards. When the number of expired listings remains constant over time it is an indicator that market pricing is in an equilibrium condition.

The chart subtitle clearly states the percentage change between the first month’s value and the last month’s value (notice they are the same month but in different years). This “same” month comparison over different years is a popular Belmont real estate “yardstick” because there is no “seasonality” involved in the measurement. Thus, any changes that have taken place are primarily due to market “forces”, i.e. the collective behavior of all consumers participating in the Belmont real estate market.

Invoking the “linear” trend line provides a good visual indicator of how the number of “expired listings” is changing over time. An upward sloping trend line indicates an increase in the number of expired listings in Belmont, CA; a downward sloping trend line indicates a decrease in expired listings. A flat trend line indicates a stable condition.

Supply and Demand of Belmont Homes by Month

Chart Explanation: This chart reflects the nature of supply and demand for single family homes in Belmont, CA. It provides valuable insight into current Belmont real estate market conditions because imbalances in supply and demand will have a significant impact on pricing. When Supply is greater than Demand, prices of single family homes in Belmont, CA are often pushed downward. When Demand approaches Supply, prices are maintained or can be moved higher.

Trends in Supply and Demand can help Belmont Real Estate Agents to forecast future changes to prices. For example, a rising supply coupled with falling demand leads to an over supplied market that usually generates downward pressure on prices. In real estate this is called a “Buyer’s Market” and the trend lines will tend to diverge. A Falling supply, coupled with high demand, tends to move prices upward. This is called a “Seller’s Market” and the trend lines will be seen converging. The hallmark of a balanced market is when supply and demand are in a state of equilibrium. Under these conditions the trend lines will be running in parallel.

Average Days on Market for Single Family Homes in Belmont, CA

Chart Explanation: This chart shows the number of days (on average) that single family homes in Belmont, CA were on the market before their owners accepted an initial offer. This metric is used by Belmont Real Estate Agents to monitor the speed and decisiveness of the market. In markets where this metric is below 30 days, the market is considered to be “Fast”. Slow markets can be identified by 90 days and longer measures.

Note: This metric only measures the days that it takes for a a reasonably priced property exposed to the Belmont real estate market to draw an offer and will have no bearing on the amount of time that a single family home that is priced above or below the market will typically wait to attract a reasonable offer.

Months Supply of Inventory of Single Family Homes in Belmont

Chart Explanation: This report is a measure of how long it would take, in months, to sell the existing single family home inventory available on the market at the current rate of sale. Belmont Real Estate Agents use Months Supply of Inventory to measure the balance, or health in a specific market. The absolute value of this index provides an indication of whether the market can be considered a “Buyer’s Market”, a “Balanced Market” or a “Seller’s Market”. A Months Supply of Inventory index level at, or below 3 months is often referred to as a “Seller’s Market” since there is relatively little inventory available to meet demand. In a “Seller’s Market” prices are often bid up since there may be competing offers for the same property. Conversely, a Months Supply of Inventory index level at, or above 6 months is often referred to as a “Buyer’s Market” since there is plenty of inventory available to meet demand. In a “Buyer’s Market” prices may need to be managed downward since there is an abundance of supply for the level of demand. Months Supply of Inventory between 3 and 6 months is often considered a “Balanced Market” with a reasonable level of inventory available to meet demand.

The formula for Months Supply of Inventory is: The number of properties that were on the market on the last day of the month divided by the number of properties where an offer was accepted during the month.

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This report is compiled monthly and will be updated on this page. If you’d like to receive The Belmont Real Estate Price Report for single family homes via email every month, please fill out the form below.

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How’s the Real Estate Market in YOUR Neighborhood?

As you’ve been reading on our blog, LivingWellinSanMateo.com, all real estate is local. The real estate market will be different from neighborhood to neighborhood in the same city. If you’re interested in the real estate market activity around your home, our Market Snapshot tool is for you.

To get a “Snapshot” of the real estate market in your neighborhood, or a neighborhood you’re looking to move to (this report works great for buyers too), please fill out the form at www.PropertyValuesNow.com. This report will reveal what recent buyers were willing to pay for your neighbors’ homes, properties currently listed for sale, market statistics and community information. View a sample neighborhood market report.

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