$3,324 Closing Credit*
$279,900
1,082 SqFt
2 Beds
•1 Full Bath
Helena J Rosenberger, Listing Office: Real Broker LLC
Is Belmont, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Belmont has remained a Seller's Market.
Key Takeaway
Belmont is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Belmont, MI
How much do homes in Belmont, MI cost?
Median Sold Price
$466,000
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$38,500(+9.0%)
Key Takeaway
Homes in Belmont have sold for 9% more than they did a year ago.
Summary: The median home sold price in Belmont was $466,000 in October 2024, up 9% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $467K | N/A |
| 2 Bedrooms | $417.5K | $435.7K | +4.4% |
| 3 Bedrooms | $349.2K | $327.4K | -6.2% |
| 4 Bedrooms | $578K | $535K | -7.4% |
| 5+ Bedrooms | $549.9K | $645K | +17.3% |
Summary: Belmont housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4.4%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Cities
| Cannon Township | $437.5K | $482K | +10.2% |
| Belmont | $427.5K | $466K | +9.0% |
| Comstock Park | $295K | $310K | +5.1% |
| Plainfield Charter Township | $369K | $385.2K | +4.4% |
| Algoma Township | $415K | $425K | +2.4% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Summary: The Belmont real estate market had 35 homes for sale in October 2024, a 2.8% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 9 | 7 | -22.2% |
Summary: The Belmont housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 22.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 8 | -38.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Belmont, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Belmont in October 2024, down by 38.5% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Belmont, MI
How long does it take to sell a home in Belmont, MI?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 47 Days | 18 Days | -61.7% |
Summary: Homes in Belmont had an average of 18 days on market in Oct 2024, down by 61.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Belmont are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Belmont; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
