The 2022 market trends for Belmont MA show Condo, Single Family, and Multi-Family average home sale prices increased due to very strong home buyer demand.
Market Trends Belmont MA 2022
Average & Median Sale Prices
Comparison of 2022 home sale prices for residential Condominium, Single Family, and Multi-Family homes sold in Belmont, Massachusetts:
|Belmont MA||Average Sale $ 2022||1 Year Change||Median Sale $ 2022||1 Year Change|
|Condo||$805,970||1% Increase||$731,000||1% Decrease|
|Single||$1,723,401||14% Increase||$1,560,000||10% Increase|
|Multi-Family||$1,219,000||3% Increase||$1,200,000||1% Decrease|
Home Sale Price Trends: Belmont MA
- In 2022 the average sale price for Condominiums increased 1% but the median sale price decreased 1%.
- For Single Family homes in 2022 the average sale price increased 14% and median sale price increased 10%.
- The average sale price in 2022 increased 3% for Multi-Family homes while the median sale price decreased 1%.
2022 Home Inventory
Comparison of 2021 and 2022 residential Condominium, Single Family, and Multi-Family homes listed for sale in Belmont, Massachusetts:
|Belmont MA||# Listings 2021||# Listings 2022||1 Year Change|
Home Inventory Trends: Belmont MA
- In 2022 the number of Condominium listings decreased 30% from 2021.
- Single Family homes listed for sale decreased 18% in 2022.
- The number of Multi-Family homes listed for sale in 2022 decreased 37%.
2022 Market Timing
Comparison of 2021 and 2022 Days to Offer for residential Condominium, Single Family, and Multi-Family homes sold in Belmont, Massachusetts:
|Belmont MA||# Days to Offer 2021||# Days to Offer 2022||1 Year Change|
|Condo||19 Days||17 Days||2 Days Shorter|
|Single||14 Days||18 Days||4 Days Longer|
|Multi-Family||13 Days||21 Days||8 Days Longer|
Market Timing Trends: Belmont MA
- In 2022 the number of days to offer for Condominium listings decreased from 19 to 17 days.
- For Single Family homes the number of days to offer increased from 14 to 18 days in 2022.
- The number of days to offer for Multi-Family homes increased from 13 to 21 days in 2022.
Market Timing Terms
The term “days to offer” refers to the number of days from the original listing date until the date upon which a seller accepts a buyer’s offer to purchase. This represents the most accurate measurement of market speed because it shows the buyer’s true sense of urgency.
“Days on market” is a term used to measure the number of days from original listing date to the date a property status is changed in MLS to “under agreement”. This status code is highly subjective and used inconsistently; therefore, “days to offer” is the most reliable measurement for market speed.
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About Tamela Roche, Realtor® – RE/MAX Destiny