There’s great news happening in Belmont…residents interested in selling their homes are benefiting from a strong market!
The market reflects stronger sales in Belmont comparing information from 2010 to 2011, leaving a strong indication that 2011 will finish stronger than the previous 12 month period ending December 31, 2010. A decrease of more than 35% in “Average Days on Market” – days on market is calculated from the original listing date to the date a property is taken off the market because it is “under agreement”. The higher demand for homes in this town is fueled by Belmont’s proximity to Cambridge & Boston and a strong school system. Home prices have increased by 6.2% YTD from the same 2010 period. Additionally, the number of single family home sales increased by 2.9% in 2011.
How does Belmont compare to the rest of the state? I took the opportunity to review single family home sales statistics throughout Massachusetts provided by the Greater Boston Association of REALTORS®. Belmont is well positioned within the state’s housing market. As stated above Belmont has had a 2.9% increase in number of homes sold YTD over 2010. In the state of Massachusetts as a whole, the number of homes sold YTD has decreased by 7.6% compared to the same period of 2010. Lastly, please take note of the significant difference between “Days on Market” when comparing the Massachusetts state average of 107 days, to that of Belmont, averaging 49 days. This is more than a 200% difference in days a property stays on the market, strongly suggesting to consumers that buying in Belmont would be a good investment.
To sum it up, if you own a home in Belmont and you’re interested in selling, now is a GREAT TIME!
For a Free Market Analysis, contact me and I will be happy to consult with you on marketing your Home for Sale.