Mike Bohnert | The Bohnert Group
Belmont, CA
Single-Family Homes
DRE #01325031
Belmont, CA
Tue Dec 03 2024
This week the median list price for Belmont, CA is $2,800,000 with the market action index hovering around 75. This is less than last month's market action index of 77. Inventory has decreased to 7.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market Narrative
The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $2,800,000 | |
| Median Price of New Listings | $0 | |
| Per Square Foot | $1,302 | |
| Average Days on Market | 136 | |
| Median Days on Market | 63 | |
| Price Decreased | 57% | |
| Price Increased | 0% | |
| Relisted | 14% | |
| Inventory | 7 | |
| Median Rent | ||
| Market Action | 75 | |
| Strong Seller's Market | ||
The market seems to have paused around this plateau. 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 |
|---|---|---|---|---|---|---|---|---|
| $5,695,000 | 4,050 | - | 5 | 5.5 | 2 | 0 | 0 | 679 |
| $4,344,444 | 2,400 | 0.5 - 1 acre | 4 | 3 | 49 | 0 | 1 | 45 |
| $2,729,000 | 2,539 | 4,500 - 6,500 sqft | 4 | 3 | 63 | 0 | 1 | 77 |
| $2,191,500 | 1,960 | 4,500 - 6,500 sqft | 3 | 2 | 62 | 0 | 1 | 14 |