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 MAAverage Sale $ 20221 Year ChangeMedian Sale $ 20221 Year Change
Condo$805,9701% Increase$731,0001% Decrease
Single$1,723,40114% Increase$1,560,00010% Increase
Multi-Family$1,219,0003% Increase$1,200,0001% 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 20221 Year Change
Condo1389730% Decrease
Single19215718% Decrease
Multi-Family714537% Decrease

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 20221 Year Change
Condo19 Days17 Days2 Days Shorter
Single14 Days18 Days4 Days Longer
Multi-Family13 Days21 Days8 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.

Data Source:  MLS Pinergy® as of 3-29-2023
©2023 Intellectual property of Tamela Roche, all rights reserved

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