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Belmont Home Sales for January 2016 and 2015 Recap

February 4th, 2016 No Comments »

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The Belmont Market is off to a strong start for 2016.  January saw a total of 13 home sales, of which 12 were single family homes.  Many of these homes were on the market and accepted offers in December, but closed escrow in January.  Below is a list of all the homes that sold in January.

There were a total of 238 single family and condo/townhouse sales in 2015 and the median price was $1,455,000 for 2015–that’s a $235,000 increase over 2014.For 2016, we anticipate the market to continue to be just as strong as it was in 2015, however the rate of appreciation will likely slow, but that doesn’t mean prices will come down anytime soon, given the low interest rates.  Unfortunately, we are still going to see low inventory through 2016, but if you’re a seller, it’s keeps you in a competitive position.  If you’re looking to buy in 2016, the good news is that the rate of appreciation will likely slow, but you still need to be prepared  to write a competitive offer.

Belmont Home Sales for October, 2015

November 5th, 2015 No Comments »

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Belmont saw a total of 22 home sales for October.  Of the 22, there were 19 single family home sales and 3 townhouse/condo sales.  The median sales price for October was $1,455,000, which is $55,000 more than the median sales price in September.   The median sales price in Belmont for single family homes is $1,546,500, where as in September it was $1,425,000, that’s a $121,000 jump than in September.  Bear in mind that September had a total of 37 sales where as October had 22, and most of the October sales had a higher price point and September had a wider range of price points.

While the market is still strong, there seems to be somewhat of a slow down lately, and price reductions are occurring more often.  Don’t be mistaken though, there are homes that are still going with multiple offers (especially if it has a level yard), but the homes that pose some challenges (think: lots of stairs, needs a lot of cosmetic work or improvements, challenging floor plans, etc.) are not selling as quickly as earlier in the year.  I think what we’re seeing is a classic case of buyer fatigue, where they have just lost out on too many homes that they’ve decided to put their search on hold while they recover a bit.  It’s not uncommon for buyers to put in 5-10 offers before finally landing a home, but it does have it’s effects on buyers.  So, if you are a buyer looking to get into a home, now could be a great time for you to get in with less competition.

Another reason why there could be a slow down is that we are approaching the holiday season, which historically tends to be a slower time of year, but rest assured, the market will pick back up in the first quarter of 2016. The market may also be correcting itself–at some point there $50-$100K+ price increases month over month have to plateau at some point, so a correction in the market is bot a bad thing, it just means that we may be headed towards a more “normal” market.   If you are a seller, there is no need for alarm–interest rates are still at historic lows, banks are lending, the job market is strong, and rents are skyrocketing, pushing more buyers into the market.  Just remember, even in a good market, an overpriced home won’t sell, and it’s key to have an agent on your side that can market your home properly and negotiate the highest possible price. Below is a list/link to all the homes/condos that sold in October.

 

Belmont Home Sale for September 2015

October 1st, 2015 No Comments »
Sold. Digitally Generated Image isolated on white background

Sold. Digitally Generated Image isolated on white background

 

Belmont saw a total of 14 home sales for the month of September, 2015.  Of these home sales, only one of them was East of El Camino Real (410 Hiller St).  The median sales price was $1,550,000 and the average sales price was $1,587,610.  Although August- September seem to be a bit slower with school starting up again and labor day weekend, the prices are holding firm, though the amount of overbids is not as much on all properties.  I think we are starting to see the market plateau a bit (doesn’t mean all homes are not getting multiple offers, as some still are), but right now we are seeing a bit of a slow down in the market, which means that if you are a buyer looking to purchase a home, now is a great time to get in without possibly having to compete with 10 other buyers!

As of today, there are 9 active residential listings on the market, (7 single family homes and 2 condos), and 18 pending home sales.  We are still experiencing a shortage of homes for sale, so just because the market may be plateauing does not mean that it’s still not a great time for sellers to take advantage of the market too!

Here’s a great opportunity to own a move-in ready home!

September 30th, 2015 No Comments »

 

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Newly renovated 3 bedroom, 2.5 bath home plus 2 rooms offer space galore! Main level features the bright living and dining room combo with fireplace, and expansive kitchen with quartz counter tops, stainless steel appliances, and a large breakfast nook. All 3 bedrooms, including the master suite, plus a family room and laundry room are on the lower level. All baths have been updated with high end tile and contemporary touches. There is a spa and large deck off family room, new hardwood and lighting!  This home offers the opportunity to create a fourth bedroom and sitll have a family room.  Contact us today to schedule you a private tour!  Click here for additional photos and information!

Introducing 2 New Homes In Belmont–Open Saturday and Sunday!

August 14th, 2015 No Comments »

frontexterior1_700We are honored to be marketing these 2 beautiful homes in Belmont.  The firs home is locate at 1672 Sunnyslope Ave. and offers Bay Vies, 3 Bedrooms, 2 baths, and a large and private level yard.  This light filled home has a master suite, a spacious kitchen with a breakfast nook, formal dining room and a living room with a fireplace and picture windows that bring the views in.  This home has character and charm with a wonderful layout and sits right at the Belmont/San Carlos Border.  You can visit www.1672Sunnyslope.com for more information or stop in to our open house Saturday or Sunday from 1:30-4:30.  As always, you can contact us for a private tour as well!

 

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The next home is located at 2025 Arbor Avenue and sits amongst mature trees in a very private setting. This home offers 4 bedrooms, 2 baths plus a family room and multiple decks along with a level yard area that overlooks a serene creek.  On the main level there are 3 bedrooms, 2 baths, a kitchen with a large dining area, the living room with fireplace and a deck.  The lower level boasts a sprawling family room with a second fireplace, a large bedroom and bath, access to the larger deck and yard, as well as a large bonus room, workshop and storage space.  For more details, visit www.2025Arbor.com or stop in to our open house on Saturday and Sunday from 1-4 pm.

Belmont Home Sales For July, 2015

August 5th, 2015 No Comments »

July saw a total of 20 home sales, 17 of which were single family homes and 3 of them were condo/townhouses.  The median home price was $1,495,o00 compared to June, where the median home price was $1,629,000.  That’s a $174,000 decrease from June.  July was the first month this year where there was a decrease in the median price, however there were less home sales in July, and 3 of them were in Sterling Downs, where homes tend to sell for less because they are east of El Camino Real.  However, Sterling Downs has seen a large jump in home values this year, where homes are selling well above the $1,000,000 mark.

While July and August tend to be slower months since many people go on vacation, there are still active buyers and many homes are selling for multiple offers.  If you are a buyer actively looking for a home, August may be the perfect time to ramp up your search before the fall frenzy, as many home buyers and sellers are squeezing in their last vacations or getting ready for the school year to start. There is still competition, but perhaps not as much as the months leading up to summer.

Below is a list of Belmont homes that sold in July.

2311 Cipriani– Listed at $2,300,000 and sold for $2,300,000.

6 Korbel Way– Listed at $2,200,000 and sold for $1,950,000

1809 Oak Knoll Dr.– Listed at $1,475,000 and sold for $1,908,000

2201 Semeria– Listed at $1,598,000 and sold for $1,890,000

2808 Alhambra– Listed at $1,399,000 and sold for $1,625,000

2109 Forest Ave.– Listed at $1,349,950 and sold for $1,560,000

3207 Adelaide Way- Listed for $1,399,000 and sold for $1,555,000

2609 Prindle Rd.- Listed at $1,438,000 and sold for $1,525,000

2511 Carmelita- Listed at $1,299,950 and sold for $1,505,000

45 Rinconada Circle– Listed at $1,249,000 and sold for $1,485,000

1840 El Verano Way- Listed at $1,098,000 and sold for $1,425,000

614 Hiller St.– Listed at $948,000 and sold for $1,300,000

2925 San Juan Blvd. – Listed at $1,098,800 and sold for $1,300,000

2012 Notre Dame Ave.– Listed at $998,000 and sold for $1,225,000

40 Arroyo View Circle– Listed at $1,088,000 and sold for $1,188,000

 

Introducing out Newest Listing- 1914 Bishop Rd. in Belmont

August 3rd, 2015 No Comments »

 

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This 3 Bedroom, 2 Bath Home offers sweeping canyon Views all one level, plus a separate family room! Feel free to call us for your own private tour! Offered at $1,249,000

Belmont Home Sales for the Month of June, 2015

July 8th, 2015 No Comments »

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Belmont saw a total of 25 residential home sales in June, 2015.  Of these 25 sales, there was only one condo that sold.  The market has continued to rise with demand just as high as it’s been all year.  The median sales price of single family homes in Belmont for June, 2015 is $1,629,000.  The median price for single family homes in May was $1,550,000.  June was a median price increase of $79,000.  Although January, 2015 had only 9 home sales, the median price then was $1,210,000.  So, in a nutshell, we’ve seen a $410,000 increase in median costs over a 6 month period.

July has been a relatively quiet month, as many people are on vacation or were away for the Fourth of July Holiday, but that is still not deterring buyers.  However, if you are a buyer actively looking July may be a good month for you since the number of buyers you are competing with is temporarily decreased.   There are currently 6 active homes on the market in Belmont, but by the end of the week, I anticipate a number of new homes to come on since many sellers held off for the Fourth of July holiday.

 

Below is a list of all the homes that sold in June, 2015.

 

2774 Belmont Canyon Rd- Listed at $1,849,000 and sold for $2,315,000

2637 Hallmark Rd.- Listed at $1,995,000 and sold for $2,152,500

1938 Oak Knoll Dr.- Listed at $1,798,000 and sold for $2,125,000

2104 Arthur Ave.- Listed at $1,948,000 and sold for $1,925,000

2425 Dekoven Ave- Listed at $1,565,000 and sold for $1,865,000

2407 Hastings Dr.- Listed at $1,495,000 and sold for $1,810,000

2654 Belmont Canyon Rd.- Listed at $1,840,000 and sold for $1,771,000

2715 Sequoia Way- Listed at $1,399,000 and sold for $1,707,000

1425 Sixth Ave.- Listed at $999,888 and sold for $1,675,000

2707 Sequoia Way- Listed at $1,488,000 and sold for $1,640,000

1 Oxford Ct.– Listed at $1,688,000 and sold for $1,618,000

1111 Notre Dame Ave.– Listed at $1,099,000 and sold for $1,600,000

2401 Palmer Ave.– Listed at $1,198,000 and sold for $1,555,000

2049 Monroe Ave.- Listed at $1,188,000 and sold for $1,530,000

2201-A Thurm Ave.- Listed at $1,250,000 and sold for $1,410,000

1565 Molitar Rd.- Listed at $1,198,000 and sold for $1,395,000

2318 Cipriani Blvd.- Listed at $1,088,000 and sold for $1,355,000

614 Hiller St.- Listed at $948,000 and sold for $1,300,000

2925 San Juan Blvd.– Listed at $1,098,000 and sold for $1,300,000

2012 Notre Dame Ave.- Listed at $998,000 and sold for $1,225,000

2666 Belmont Ave.- Listed at $1,199,000 and sold for $1,204,000

2734 Monserat Ave.- Listed at $998,000 and sold for $1,125,000

348 Treasure Island Dr.- Listed at $999,000 and sold for $1,099,000

1241 Judson St.– Listed at $898,000 and sold for $1,026,000

1101 Continentals Way #205– Listed at $499,000 and sold for $570,000

Belmont Home Sales for May 2015

June 1st, 2015 No Comments »

 

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May, 2015 was a busy month for the Belmont Real Estate Market.  There were 24 single family homes that sold and 4 sold condo/townhouses, bringing the grand total to 28 residential sales in Belmont.   The median sales price for May is $1,540,000 for both townhouses and condos.  The median price for single family homes only  is $1,550,000–that’s a $68,500 increase than April.  The market has been very competitive for about a year now and there is no sign of it shifting drastically.  We anticipate interest rates to go up slightly buy the end of the year, but that may not be enough of a jump in rates to normalize the market and get us to a point where there are enough homes available for the number of active buyers.

If you are thinking of buying a home, don’t let the market conditions deter you–the appreciation in the Bay Area, coupled with low interest rates being offered today are still a better investment than renting a comparable home at $4000-$6000 a month, and the rental market doesn’t seem to be easing up any time soon.

2700 All View Way– Listed at $1,998,000 and sold for $2,300,000

2007B Notre Dame Ave– Listed at $1,798,000 and sold for $2.051,000

875 Holly Road– Listed at $1,578,000 and sold for $1,925,000

3266 Lori Dr.- Listed at $1,799,000 and sold for $1,865,000

1 English Ct.- Listed at $1,749,950 and sold for $1,861,000

3840 Naughton Ave. – Listed at $1,695,000 and sold for $1,800,000

2535 Sherborne Dr. – Listed at $1,648,000 and sold for $1,800,000

2751 Wemberly Dr.- Listed at $1,528,000 and sold for $1,751,000

1 Debbie Lane– Listed at $1,525,000 and sold for $1,680,000

3600 Hillcrest Dr. – Listed at $1,298,000 and sold for $1,663,000.

829 Alameda de las Pulgas- Listed at $1,395,000 and sold for $1,553,000

2129 Pullman Ave.– Listed at $1,595,000 and sold for $1,550,000

4111 Skymont Dr.- Listed at $1,389,000 and sold for $1,550,000

3416 Lodge Dr.- Listed at $1,198,000 and sold for $1,530,000

2312 Cipriani Blvd.- Listed at $1,388,000 and sold for $1,525,000

1604 El Verano Way– Listed at $1,499,950 and sold for $1,500,000

3218 Upper Lock Ave.- Listed at $1,358,000 and sold for $1,500,000

1343 Paloma Ave. – Listed at $1,149,000 and sold for $1,427,00

2516 Dekoven Ave.– Listed at $1,238,000 and sold for $1,425,000

1 Dionne Ct.- Listed at $1,189,500 and sold for $1,425,000

618 Hiller Dr.– Listed at $949,000 and sold for $1,275,000

1040 Judson- Listed at $899,000 and sold for $1,225,000

521 Chesterton Ave.- Listed at $958,000 and sold for $1,150,000

1100 Continentals Way– Listed at $878,000 and sold for $1,070,000

1221 Judson St.– Listed at $875,000 and sold for $967,500

334 Treasure Island Dr.- Listed at $799,000 and sold for $905,000

400 Davey Glen Rd. #4810– Listed at $525,000 and sold for $635,000

1101 Continentals Way #107- Listed at $450,000 and sold for $450,000

 

 

Belmont Home Sales For The Month of April, 2015

May 1st, 2015 No Comments »

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Belmont had a total of 24 home sales in April.  Of those 24, only 2 of them were condos/townhouses and saw a median home price of $1,538,000.  March saw a total of 40 single family home sales, with a median price of $1,481,500.  That’s a $56,500 increase in the median home price in one month.  Not one home sold under $1 million and properties in Sterling Downs have topped well above the $1.1 range.

It’s a crazy market out there and buyers are getting more and more aggressive with their offers.  Yesterday I wrote an offer on a property that received a total of 31 offers!!  Many of the buyers are very well qualified and have large down payments, and we are still seeing all cash offers, but the supply is simply not meeting the demand.

 

807 Miramar Terrace– Listed at $2,150,000 and sold for $2,801,000

2441 Hastings Dr.- Listed at $1,439,000 and sold for $1,950,000

51 Ralston Ranch Rd.- Listed at $1,889,000 and sold for $1,945,000

575 South Rd. – Listed at $1,949,000 and sold for $1,890,000

1109 Ladera Way– Listed at $1,589,888 and sold for $1,725,000

1200 Lane St. – Listed at $1,285,000 and sold for $1,718,000

1255 Chula Vista Dr– Listed at $1,495,000 and sold for $1,700,000

2632 Monte Cresta Dr.- Listed at $1,448,000 and sold for $1,680,000

1507 Folger Dr.– Listed at $1,198,000 and sold for $1,660,000

1424 Sunnyslope Ave.- Listed at $1,175,000 and sold for $1,565,000

2702 Barclay Way– Listed at $1,349,000 and sold for $1,551,000

1560 Sunnyslope Ave.- Listed at $1,399,000 and sold for $1,525,000

3211 Adelaide Way– Listed at $1,297,000 and sold for $1,515,000

914 Avon St.- Listed at $1,540,000 and sold for $1,450,000

3325 Plateau Dr.- Listed at $1,188,000 and sold for $1,450,000

1346 Sunnyslope Ave.– Listed at $1,180,000 and sold for $1,410,000

3610 Hillcrest Dr.- Listed at $1,198,000 and sold for $1,400,000

2510 Read Ave.– Listed at $1,195,000 and sold for $1,385,000

1018 Villa Ave.- Listed at $1,225,000 and sold for $1,370,000

2129 Coronet Blvd.- Listed at $1,188,000 and sold for $1,350,000

514 Chesterton Ave.– Listed at $895,000 and sold for $1,181,000

400 Davey Glen Rd. #4522– Listed at $650,000 and sold for $697,500

400 Davey Glen Rd. #4325– Listed at $479,000 and sold for $535,000