Activity last week was slow in Belmont as the housing market always takes lazy summer pace about this time of year. Once people get back from their last vacations and get the kids ready for school, the market picks up again from just after Labor Day until Thanksgiving.
There were only three new listings last week, three homes that went pending and six that closed escrow lowering Belmontâ€™s total inventory to 44. Of the six that closed escrow only 1 went over asking but it did so the tune of over $100,000! Historically, home sell closer to asking in the summer monthâ€™s so thereâ€™s no real trend here thatâ€™s not expected. It will probably drop once more before climbing again in September. Weâ€™d be remise if we didn’t say to Sellers to get their home on the market earlier rather than later after Labor Day.
As for the new listings, none of these homes made it on the market in time for last Tuesday’s tour so we donâ€™t have a lot of feedback as of yet.
1514 Pine Knoll Dr Belmont 2/1 Pine Knoll is a GREAT street in Belmont. It sits atop one of Belmont earliest bluffs where people built summer vacation cottages back in the 30’s. This one looks really nice at the price looks good too. Definitely one to check out if you can handle only two bedrooms. OPEN SUNDAY 1:30-4:30 8/17
1134 North Ct Belmont 3.2 Another short sale story, this 1,400 sq. ft. home was sold in 2005 for $951,000. Re-listed in 2006 at $968,000, it never sold. Now it’s a lender short sale at $765,000. That’s a good deal to be on the west side. If you’re patient, this one may be worth checking out but remember short sales can be problematic. If youâ€™re unfamiliar with short sales you can check out our blog article on them here. OPEN SUNDAY 1:00-4:00 8/17
320 Treasure Island Dr Belmont 3/2 &1/2 This is a townhome style condominium association in Belmont out near Oracle. At 1,770 square feet it’s a lot of home for the money and if you work at Orcale that’s a nice commute! OPEN SUNDAY 1:00-4:00 8/17
Pending Sale homes.
Three homes went into pending status last week and the one that needs mention is San Ardo. This was our Best Belmont Deal last week and sure enough it sold in four days. Remember, this home was listed for only $725,000 for a 3/2 1420 square foot home in the Belmont Hills! Anyone care to guess what it will close for? Letâ€™s just say it could close for as high as $825,000 and still be a fair price.
1400 Arden Lane Belmont 3/2 This home was located near the San Carlos border on the eastern side of the hills. We knew this would go fast and indeed it did. It was only on the market for 10 days when it sold for $1,111,000 a whopping $136,000 over asking! It had a nice floor plan on one level and some usable flat yard area–always a premium in the hills.
2721 Sequoia Way Belmont 4/2& 1/2 This home stuck around awhile on the market. With some of the best views in Belmont–overlooking Sugarloaf Mountain and San Francisco City views, frankly I’m surprised that they couldn’t have got more for this home. There’s a lesson here about how to market a home for sale… It sold under the asking price of $1,010,000 at $950,000.
2627 Barclay Way Belmont 4/4+ We used live across the street from this home before we moved to Hallmark. I love this neighborhood. You feel like youâ€™re in the Tahoe wilderness up there. There’s a sad story that goes along with this home. It sold back in 2005 for $1,129,000 for what we thought at the time as WAY too high of a price. Sure enough when they went to try and sell, the same fervor in the market did not exist and they had a heck of a time selling it once again and ending up selling short of what they owed at $860,000.
1909 Arbor Av Belmont 3/ 2 This home was only 1,100 sq. ft. hence the low sale price for the Belmont Hills. It closed after being on the market for only 13 days at $798,000 some $15,000 under the asking price of $813,888
2022 Monroe Av Belmont 3/2 Another short sale property in the Belmont Hills, this home was on the market for 173 days. Still at only 1,100 square feet it sold for $668.00 per square foot at $735,000, though it was listed higher at $799,000.
1101 Continentals Way, #301. 1 Bed 1 Bath At only 740 square feet the condo is the lowest sale in Belmont but we threw it in so you can tell your friends who are renting to buy a one bedroom like this instead. It sold for only $350,000!