Mike Bohnert | The Bohnert Group
Belmont, CA
Single-Family Homes
DRE #01325031
Belmont, CA
Fri Dec 01 2023
This week the median list price for Belmont, CA is $2,000,000 with the market action index hovering around 63. This is an increase over last month's market action index of 61. Inventory has decreased to 11.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
In the last few weeks, the Market Action Index has resumed a climb. Despite the fact that we’re in a Seller’s market, prices have not yet resumed upward momentum. However, it is likely that given these conditions, prices will at least level off very soon. If the increasing trend continues, expect that prices could shift higher quickly.
Real-Time Market Profile
| Median List Price | $2,000,000 | |
| Median Price of New Listings | $1,961,500 | |
| Per Square Foot | $1,298 | |
| Average Days on Market | 70 | |
| Median Days on Market | 35 | |
| Price Decreased | 27% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 11 | |
| Median Rent | ||
| Market Action | 63 | |
| Strong Seller's Market | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $4,297,500 | 3,035 | 0.5 - 1 acre | 4 | 4 | 36 | 0 | 0 | 217 |
| $2,150,000 | 1,820 | 4,500 - 6,500 sqft | 3 | 2 | 85 | 1 | 0 | 42 |
| $1,750,000 | 1,550 | 6,500 - 8,000 sqft | 3 | 2.5 | 58 | 0 | 0 | 70 |
| $1,575,000 | 960 | 4,500 - 6,500 sqft | 2 | 1 | 72 | 1 | 1 | 7 |