Welcome to 2009 and our weekly review of homes for sale in Belmont. This year weâ€™ve been slow to get out of the gate with new listings. The inventory of homes for sale in Belmont is currently at 31 but that includes 29 carried over from December which didnâ€™t sell. To give an idea how out of whack that is the average days on market (including the two new listings in January) is at 125! With the average home selling in Belmont in 2008 in 44 days these stale listings are going to need some serious price reductions in order to sell in 2009.
So we begin the year with over three months of inventory which is the same as last year but double what it has been averaging during an active market year.
Here are the only two new listings so far in 2008:
2408 Palmer Ave. 3 Bed 1 Bath 1200 Sq. Ft. home on a 5,200 Sq. Ft. lot LISTED for $749,950. This home is a little tired but with a little fresh paint and some cosmetic work it could be a fine home in a great neighborhoodâ€”just around the corner form Cipriani Elementary school and the dog park. The downside is the one car garage buy at this price it rivals homes listed on the east side near 101. We give this a BEST DEAL of the week and not just because we don't have much to choose from. Listed By Sandy Paoli, RE/MAX Today. OPEN SUNDAY 1/11 1:30-4:00
2662 Belmont Canyon Road– 4 Beds 3 bath 2205 Sq. Ft. home on a 14,375 Sq. Ft. lot LISTED for $ 1,013,000. If this address sounds vaguely familiar it should. It was listed last year in April for $1,188,888. It received an offer when listed at that price in July but soon fell out of escrow (no we do not know why). It was lowered to $1,035,000 but never sold. Itâ€™s a nice home, though it resides on a rather steep hillside which could turn off people with small children. Listed By Christina J. Galletti, Alain Pinel Realtors. NO OPEN HOUSE INFORMATION AVAILABLE.
As you might expect itâ€™s too early in the new year to have many homes close escrow, and most buyers like to close at the end of the year for tax purposes, but this home slipped into 2009.
â†‘3407 Lower Lockâ€”3 bed 2 bath 1,550 Sq. Ft. home on a 5,500 Sq. Ft. lot LISTED for $ 899,888 SOLD for $905,000. So the first sale of the new year went over asking. Nice.