Belmont CA 94002 Market Update

Belmont is the second to last of our seven cities. It, too, is now a Cool Buyer's Market. The median price of $948,000 was reflected over 51 homes for sale.

Belmont is a small communities sitting between San Mateo and San Carlos, generally up in the hills. There are some fabulous views from some of these homes and of course, the better the view, the more the house costs.

Belmont is the home to Notre Dame de Namur University, a private Catholic co-ed university in the heart of the town. The Belmont-Redwood Shores Elementary School District has four elementary schools and one intermediate school. They feed into Sequoia Union High School District's Carlmont High School or children attend the private Notre Dame High School.

Prices for homes in Belmont are heading down a bit. Altos Research believes there will be a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

The Market Action Index is in the Cool Buyer's zone at 24. Keep in mind that 30 is the line between cool and warm, and it is not strongly into Cool Buyer's so Altos Research believes that buyers should expect to find reasonable levels of selection in homes for sale. This is indicated to be so, with the 51 houses for sale and only 31% of those has seen price reductions.

Houses are staying on the market a little less than some of our other cities, at 46 days average. Belmont is across 101 from Redwood Shores where Oracle and Electronic Arts are headquartered. It's an easy commute south to the Silicon Valley or up to San Francisco.

If you'd like to see a more in-depth report about Belmont please let us know. We're here to serve you in all of your real estate needs.