$5,047 Closing Credit*
$425,000
1,316 SqFt
4 Beds
•3 Full Baths
Jeffrey A Marion, Listing Office: Berkshire Hathaway HomeServices Michigan Real Esta
Is Belmont, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 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
$458,750
$262/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$28,750(+6.7%)
Key Takeaway
Homes in Belmont have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Belmont was $458,750 in September 2024, up 6.7% from last year, and the median price per square foot was $262.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $467K | N/A |
| 2 Bedrooms | $405K | $435.7K | +7.6% |
| 3 Bedrooms | $355K | $340K | -4.2% |
| 4 Bedrooms | $576K | $522.5K | -9.3% |
| 5+ Bedrooms | $618.7K | $667.5K | +7.9% |
Summary: Belmont housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.6%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes increased by 7.9%.
Median Sold Price Compared To Nearby Cities
| Cannon Township | $437.5K | $484.8K | +10.8% |
| Algoma Township | $395K | $425K | +7.6% |
| Belmont | $430K | $458.7K | +6.7% |
| Comstock Park | $291K | $310K | +6.5% |
| Plainfield Charter Township | $365K | $381K | +4.4% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 33 | 35 | +6.1% |
Summary: The Belmont real estate market had 35 homes for sale in September 2024, a 6.1% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 11 | 8 | -27.3% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Belmont housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 27.3%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 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 10 homes were sold or pending in Belmont in September 2024, up by 25.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 18 Days | 139 Days | +662.0% |
Summary: Homes in Belmont had an average of 139 days on market in Sep 2024, up by 662% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Belmont are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 10 homes were sold in Belmont; 90% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
