“During the pandemic, the Belmont market was extremely hot,” said Nancy Grignon of Berkshire Hathaway HomeServices Commonwealth. “There was not enough inventory. You were getting several offers on the properties. They went much further than asking,” she said.
Seasoned real estate brokers and agents Grignon and David Hurley, also of Berkshire Hathaway HomeServices Commonwealth, said the fall real estate market should continue to be as strong as it was last spring.
“It’s always a seller’s market,” said Hurley.
The mortgage interest rate is also still very good, in the highs of 2, according to Grignon.
The average sale price of a single-family home as of September 20 was $ 1,545,279 million. There are currently six single family homes listed for over $ 2.5 million.
Solid sales despite the pandemic
Some buyers offered $ 20,000 to $ 300,000 above the asking price, and an average of 10 to 15% above the asking price was common, Grignon said.
People wanted to get out of town and move into bigger houses where they could work remotely and it was happening all of a sudden, she said.
Grignon said many people working for Pfizer and Moderna, Novartis and other biotech start-ups have moved to Belmont.
New or renovated home market, $ 2.5 million and more
Even before the pandemic, the number of homes sold in Belmont for more than $ 2.5 million was increasing, according to Grignon and Hurley. They have seen this trend continue and develop.
More and more people with children are looking for renovated homes or new construction, they said. They like Belmont’s proximity to Cambridge and the Boston hospitals. Many builders are tearing down smaller homes and building new homes, like the recent demolitions on Birch Hill Road, three of which sold for more than $ 3 million, according to Hurley.
Latest listing at Belmont, $ 4.8 million
On September 22, Grignon and Hurley announced a five-bedroom, 6,000 square foot Georgian colonial home for $ 4.8 million on 29,000 square feet of land in a cul-de-sac at 21 Edmunds Way. It is ideally located near Belmont Hill School with easy access to Route 2.
The house was custom built in 1994 and is completely renovated. It has three levels, including a finished basement, five bedrooms, five full bathrooms and two powder rooms and a three-car garage. There is also a convertible attic for additional storage.
Unique additional features and amenities include a heated aisle, five central air zones, eight heat zones, built-in 90-inch TV, Sonos speaker system, radiant heated floors, custom cherry wood cabinets, a steam shower, nine foot ceilings, mahogany moldings and doors, granite and brick patio and walkway and a fully organic landscaped yard.
For more information, visit Berkshire Hathaway HomeServices Commonwealth.
Homes Currently On The Market For $ 2.5 Million Or More
There are currently five homes on the market for $ 2.5 million or more in Belmont. They are:
- 21 Edmunds Way, $ 4.8 million, 5,460 square feet (not including finished basement), land of 28,818 square feet, 10 rooms, five bedrooms, 5.3 baths, three garages, listed on September 22.
- 60 Rockmont Road, $ 2.5 million, 4,202 square feet, land of 30,784 square feet, 10 rooms, five bedrooms, 4.2 bathrooms, two garages, 61 days on the market as of September 20.
- 38 Audubon Lane, $ 3,490, 7,112 square feet, 19,609 square foot lot, 13 rooms, five bedrooms, 6.1 bathrooms, four garages, 131 days on the market to September 20
- 89 Fletcher Road, $ 5.85 million, 7,801 square feet, 54,830 square feet land, 15 rooms, six bedrooms, 6.1 bathrooms, two garages, 130 days on the market to September 20
- 15 St. James Court, $ 4.2 million, 10,997 square feet, 43,310 square feet land, 19 rooms, six bedrooms, 7.3 baths, three garages, 426 days on the market as of September 20
- 275 Somerset Street, $ 8.5 million, 8,948 square feet, 76,666 square feet land, 15 rooms, five bedrooms, 5.2 baths, three garages, 96 days on the market to September 20
Recent home sales in Belmont, $ 2.5 million or more
- 47 Homer Road, listed at $ 2.3 million, sold for $ 2.629 million on July 7, six days on the market
- 50 Woodfall Road, listed at $ 2.85 million, sold for $ 2.75 million on June 18, 89 days on the market
- 7 Tyler Road, listed for $ 2.5 million, sold for $ 2.5 million on May 28, 43 days on the market
- 33 Birch Hill Road, listed for $ 3.25 million, sold for $ 3.26 million on May 21, nine days on the market
- 210 Clifton St., listed for $ 3.3 million, sold for $ 2.850 million on May 4, 113 days on the market
- 151 Rutledge Road, listed for $ 2.2 million, sold for $ 2.658 million on May 3, 10 days on the market
- 16 Cumberland Road, listed for $ 3.495 million, sold for $ 3,350,250 on April 1, 230 days on the market
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