Thereâ€™s little change to report for sales in Belmont for the month of August 2010 but the Case-Shiller report which was released on September 26th showed another increase in the Bay Area metropolitan index for the sixth straight reporting period. This index follows the change in home prices across the country in 20 metropolitan areas. Their complete methodology can be found here.
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The median price rose to $885,750 over $837,500 in August of 2009. That represents a 6% increase but is partially negated because the pool of homes which sold were also 14% larger.
Home sales remained flat as compared to the previous month but the 20 sales in August 2010 were four more than August 2009.
DOM: (Days on Market)
The days a home took to sell were on average 44â€”almost half of what it was a year ago.
Of the 20 sales in August only three homes sold for over their asking price for an average of $15,000 more, while four sold right at the asking price and 13 sold for on average $30,000 less.