Belmont Brings it Home (in May at least)

Brokers have not been doing "mother's hours", in Belmont at least. With about a week left in the flower month, 21 deals have been put into the books. 16 singles sold after 55 days on the market, compared to 11 for the ENTIRE MONTH OF MAY, 2010. In that 2010 May, 11 homes sold for an average of $754k. This year, the average price is a whopping $866 according to MLS.

Condo sales are down (3 so far vs 9 for last year's entire May) but average price is up (thanks to an 830K sale in Governor Romney's neighborhood.

Multis?...well, 1 on 2010, 2 in 2011 -- not much of a trend there unless you are looking at the trend of turning 2 Fams into mini Condo Associations.

So what's the mood in little Belmont? Well, as of today there are 107 props being offered for sale. Of the 58 singles in that group, 12 are currently entertaining offers (per flagging in MLS). Average days on market for those 58 singles for sale comes out to 81 days (note -- the ones that sold did it in an average of 55.
days).

And average price on those props still on the inventory shelf?...$1,148,178 -- nearly $300,000 MORE than the sold properties.

Looks like things are selling, but if you want to sell it, "ya" better price it where people can afford it.