Real Estate Market Report - Belmont, CA (Feb, 2024)

The median sale/list price for one dataset shows a steady increase from $1,697,500 in February 2023 to $3,413,000 in January 2024. The median sale/list price for the other dataset shows a more fluctuating trend, with a low of $1,380,000 in February 2023 and a high of $2,150,000 in October 2023.

The median sale price per square foot in February 2023 was $654.206, which increased to $923.611 by May 2023 and further rose to $1158.372 by October 2023. This indicates a steady increase in property values over the course of the year.

The median sale price to list price ratio in February 2023 was 0.986, indicating that homes were selling slightly below their listed price. By May 2023, the ratio had increased to 1.018, indicating that homes were selling for slightly above their listed price. In October 2023, the ratio jumped up to 1.166, indicating that homes were selling for significantly above their listed price.

In February 2023, there were a total of 3 properties sold/listed, with an additional 1 property sold/listed in May 2023 and a total of 4 properties sold/listed in October 2023 and January 2024.

The median days on market for residential properties increased from 12 days in February 2023 to 92 days in May 2023, and then decreased to 35 days in October 2023.