Weâ€™ve got a lot to cover at the beginning of a new year as we go back and examine all of 2008 as well as the month of December.
This is our month-end report of home sales in Belmont for the month of December 2008. Note that while the median price dropped significantly from November, so did the size home which sold in December. The difference in size of homes in the two months was 190 square feet. At the price per square foot of $514 that could account for $97,660 of the difference in the median home priceâ€”meaning that home prices were actually higher in December if you factor in for the size of home which sold.
Sales were up too. There were eight sales in November and eleven in December. Thatâ€™s an anomaly as typically sales in November are greater than December. Weâ€™ll chalk that one up to the dire economic news in October (October sales are Novemberâ€™s closings).
Click on the chart for a readable picture.