Is Belmont, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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, NC
How much do homes in Belmont, NC cost?
Median Sold Price
$410,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Belmont have sold for 7.5% less than they did a year ago.
Summary: The median home sold price in Belmont was $410,000 in May 2024, down 7.5% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | - | N/A |
| 2 Bedrooms | $278K | $282.4K | +1.6% |
| 3 Bedrooms | $380K | $375K | -1.3% |
| 4 Bedrooms | $550K | $619.9K | +12.7% |
| 5+ Bedrooms | $565K | $775.3K | +37.2% |
Summary: Belmont housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 37.2%.
Median Sold Price Compared To Nearby Cities
| Cramerton | $347.7K | $358K | +2.9% |
| Mount Holly | $343.3K | $344.5K | 0.3% |
| South Point Township | $374.7K | $375.2K | 0.1% |
| Belmont | $443.4K | $410K | -7.5% |
Housing Supply in Belmont, NC
How many homes are available in Belmont, NC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 151 | 177 | +17.2% |
Summary: The Belmont real estate market had 177 homes for sale in May 2024, a 17.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 18 | 16 | -11.1% |
| 3 Bedrooms | 77 | 93 | +20.8% |
| 4 Bedrooms | 35 | 43 | +22.9% |
| 5+ Bedrooms | 21 | 24 | +14.3% |
Summary: The Belmont housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 36 | -25.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Belmont, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Belmont in May 2024, down by 25.0% month-over-month. Of the 36 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for Belmont, NC
How long does it take to sell a home in Belmont, NC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 19 Days | -24.0% |
Summary: Homes in Belmont had an average of 19 days on market in May 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
6 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 May 2024, 36 homes were sold in Belmont; 81% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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