Flat lined in Belmont (MA)

At the risk of jumping the gun, what with 8 more business HOURS left to this pale of a year of 2011, we can report that sales in Belmont were flat compared to 2010. So far for 2011, 146 homes changed hands according to MLS. This compares out to 143 homes for the previous year. Flat yes, but to dig a bit deeper shows a bit of contour to the Real Estate terrain...

Days on market went form 78 days in 2010 down to a stealthy 58 in 2011. Average price rose from 780k to 804k. It would seem, from the numbers view at least, that we had somewhat of a bidding war on our little hands -- a little war, anyway. Buyers were there -- sellers were not...when someone did put the "chalet" on the market, it went.

Now let us not jump the gun in the other direction (read that as shoot ourselves in the foot -- or face). Buyers were not throwing themselves at anything and everything -- they were NOT willing to die by the sword if they failed to sign a Purchase and Sale. In fact, they kept their collective cool and allowed 42 listings to EXPIRE (no sale) in 2011. In 2010, they refused to ink deals on 35 homes.

What does it all mean -- not much, I should hazard. Flat sales in a bad market can be great, but it should be reminded at many times, flat surfaces are, indeed, as slippery as a slippery slope.