Belmont recent sale data and analysis 09/18/2008

Yu Lam (Eddie Lam) — Fri, 19 Sep 2008 02:56:26 +0000

This mainly keeps track of the entry level SFR in Belmont

Inventory: min. 3 bedroom / 1 bath with 1000 sq ft and above, under $1M

Sale data in the last 3 months in Belmont as of 09/18/2008

Sale Date	no. of sale	min. price	max. price	avg. pr/sq ft
Sept-07	5	$705,000	$980,000	$528.82
Oct-07	9	$650,000	$932,000	$604.76
Nov-07	4	$710,000	$865,000	$648.68
Dec-07	4	$707,000	$855,000	$619.09
Jan-08	2	$615,000	$725,000	$551.05
Feb-08	5	$910,000	$969,000	$602.98
Mar-08	16	$610,000	$1,000,000	$551.50
Apr-08	6	$590,000	$1,000,000	$471.82
May-08	11	$599,888	$979,000	$549.85
Jun-08	16	$660,000	$955,000	$578.79

The Belmont market has become active since March 2008. The inventory level remains low, please check out Market Condition in Bay Area – 9/16/2008. Overall residents in Belmont are wealthy, not much short sale or REO listings. People in Belmont can wait till the market come back, they are not in a rush to sell, so the price doesn’t go down by that much. The average price / sq ft is fluctuating.

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Belmont recent sale data and analysis 09/18/2008