Massachusetts Home Buyer Guide

The price of a single-family home in Belmont, Massachusetts has increased in 2013, according to data provided by the Warren Group, the publisher of Banker & Tradesman. 

From January through August 2013, the median price of a single-family home in Belmont, MA increased 15.07 percent to $782,500 compared to $680,000 during the same eight-month period in 2012.  For August 2013, the median price increased to $818,000 from $662,500 in August 2012. 

Single-family homes sales in Belmont increased slightly in August to 27 sales from 25 sales in August 2012; however, single-family home sales have declined in 2013 through August. During the first eight months of the year, single-family home sales decreased 4.51 percent to 127 sales from 133 sales during the same period in 2012. 

On the other hand, condominium sales and prices have declined during the first eight months of 2013 in Belmont. 

The median price of a condominium in August declined 15.31 percent to $437,000 from $516,000. Through August 2013, the median condo price declined 11.13 percent to $435,000 from $489,500 in January through August 2012. 

Condominium sales increased 50 percent, from 12 unit sales in August from eight sales in August 2012; however, condo sales declined 8.75 percent through the first eight months of 2013. There have been 73 condo sales in Belmont through August 2013 compared to 80 sales during the same period in 2012. 

There has not been much foreclosure activity in Belmont. Through August 2013 there has not been any foreclosure petitions recorded compared to 12 foreclosure petitions during the same period in 2012. There has been one foreclosure deed recorded compared to three recorded during the first eight months of 2012. Last year there were 11 auction announcements and just two from January through August this year, The Warren Group reported.