Profile of a Belmont Home Sold

What was the profile of the average home that sold in Belmont last year?

• The average home that sold in 2011 had three bedrooms, two baths was 1,925 square feet in size and was located on a 6,430 square foot lot

• It sold for $879,450 in 44 days

Belmont Statistics for 2011

• There were 186 single family home sales in 2011

• The average time a home was on the market before the seller received an offer was 44 days

• 32% of Belmont homes sold over the asking price in just 19 days

• 11% sold at the seller’s asking price in 29 days

• 57% sold under the asking price and took 60 days to do so

• 103% was the percent of the asking price the sellers received who sold their homes in 19 days

• 96% was the percent of asking the sellers whose homes were overpriced received in 60 days 

It becomes abundantly clear that the last thing any seller should want to do is overprice their home, yet more than half of the homes sold in 2011 were overpriced. These sellers also had to lower their asking price by on average $61,000 and in the end received an additional 7% less for their homes than ones priced correctly.

If you are considering selling your home this year, choosing a local agent who knows the values in Belmont and then of course listening to what they tell you will go a long way towards putting more money in your pocket.

All the best,

Drew & Christine

This story is part of our monthly newsletter. If you would like receive our newsletter you may email us at Newsletter@morganhomes.com and you’ll be added to the list. Note—we never share our email list with anyone for any reason without your express permission.

The information contained in this article is educational and intended for informational purposes only. It does not constitute real estate, tax or legal advice, nor does it substitute for advice specific to your situation. Always consult an appropriate professional familiar with your scenario.