$5,616 Closing Credit*
$472,900
1,873 SqFt
2 Beds
•2 Full Baths
Jeff Costello, Listing Office: Eastbrook Realty
Is Belmont, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Belmont was a Seller's Market.
Key Takeaway
Belmont is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Belmont, MI
How much do homes in Belmont, MI cost?
Median Sold Price
$480,912
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$65,912(+15.9%)
Key Takeaway
Homes in Belmont have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Belmont was $480,912 in November 2024, up 15.9% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $467K | N/A |
| 2 Bedrooms | $405K | $436K | +7.7% |
| 3 Bedrooms | $340K | $340K | 0.0% |
| 4 Bedrooms | $578K | $535K | -7.4% |
| 5+ Bedrooms | $549.9K | $645K | +17.3% |
Summary: Belmont housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes did not change, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 17.3%.
Median Sold Price Compared To Nearby Cities
| Belmont | $415K | $480.9K | +15.9% |
| Cannon Township | $440K | $487.5K | +10.8% |
| Comstock Park | $291K | $318.4K | +9.4% |
| Algoma Township | $400K | $430K | +7.5% |
| Plainfield Charter Township | $365K | $390K | +6.8% |
Housing Supply in Belmont, MI
How many homes are available in Belmont, MI?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 28 | -15.2% |
Summary: The Belmont real estate market had 28 homes for sale in November 2024, a 15.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 13 | 10 | -23.1% |
| 4 Bedrooms | 11 | 10 | -9.1% |
| 5+ Bedrooms | 6 | 2 | -66.7% |
Summary: The Belmont housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 23.1%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was 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 4 homes were sold or pending in Belmont in November 2024, down by 55.6% month-over-month. Of the 4 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 14 Days | 34 Days | +133.5% |
Summary: Homes in Belmont had an average of 34 days on market in Nov 2024, up by 133.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were 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 November 2024, 4 homes were sold in Belmont; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
