Belmont real estate is in high demand right now, and there are no signs of the market slowing down. However, you may have questions about the current trends in Belmont real estate. For example, is now a good time to buy or sell? Are other markets affecting prices in the bay area? What should you look for when it comes to homes for sale in Belmont? How do you know if this area is right for you?
Luckily, trusted real estate professionals like Mary Ann Teixeira help uncover some of the latest trends in the Belmont real estate market each year, so you can get a better idea of what’s going to be the best decision for your family. Keep reading to learn more!
Trend #1: Homes for sale in Belmont are strategically located.
It takes roughly half an hour to get to either San Francisco or San Jose from Belmont. Silicon Valley is well known for housing some of the largest tech companies in the country and even in the world. However, when the pandemic hit in 2020, most of these employees were sent home and allowed to work remotely. As it turns out, the switch was a huge hit. Employees started selling homes and moving to the suburbs or even across the country.
Now, we’re seeing these same companies recalling their workforce back to the office. This means that high-income people are starting to flood back into the housing market. San Francisco and San Jose both have an average home price of around $1.3 million, so people who are willing to commute for half an hour will likely find that Belmont real estate is the right move for them.
Trend #2: Belmont real estate is beating other financial markets.
Traditionally, the stock market has outpaced the overall real estate market. Given the recent bearish sentiment in the market coupled with rising inflation, local housing markets are now outpacing stocks. Both the San Jose and San Francisco markets are seeing an appreciation rate of 7% or higher with median home sales up 22% year over year in some areas.
If you’re determined to sell your home in 2022, now is the time to speak to an agent. However, this growth is not showing any signs of slowing down. While we are still in a seller’s market, real estate is one of the best and safest investments you can be in right now. We expect home prices to continue to rise as people sell off stocks that are expected to dip even further.
Silicon Valley used to see a lot of wealthy investors using their stock portfolios to borrow money at attractive interest rates. As stock prices come down, some investors may start to sell off the property to pay off loans, which could put buyers in a unique position. Unfortunately, you have to be fast, as most houses in the Bay area are selling in under two weeks.
If you’re looking to pull the trigger on a real estate investment, you aren’t going to have much time to sleep on it. Moves are being made at the speed of business, which is only getting faster as 2022 marches on.
Trend #3: Buyers want family-friendly neighborhoods.
As people start coming back to work, they will be spending less time with their kids. For most families working from home, the last couple of years allowed parents a lot of freedom with tasks like taking kids to school, going to the store whenever they wanted, and planning fun family outings. However, with so many returning to the office, families may have to rely on their community to keep their kids safe during the day.
Luckily, the Belmont area is known for being a great place to raise a family, with 14 parks and playgrounds, youth recreation leagues, and easy access to hiking trails and the Bay, all with a population under 30,000. Belmont is a place where neighbors know each other, neighborhood kids play together, and they go to school together.
When you want some time away, you can enjoy the nightlife of two major cities in under an hour. Being that every buyer is unique in what they want to get out of their new house and the community, Belmont real estate offers something for everyone.
Trend #4: The competition is fiercer than ever.
Not only are homes for sale in Belmont selling quickly, but they’re also selling for more than the listing price. In neighboring Santa Clara County, 89% of houses sold above the asking price. What this means is there are more buyers than there are houses for sale in the area. Belmont’s attractive location is receiving a lot of demand from buyers, but the area doesn’t have the sellers to meet this demand, creating a substantial amount of scarcity.
If you want a new house in the Belmont area, speak with an agent as soon as you can. You’ll need to view houses, make offers, negotiate, and do several other things to get a home under contract. Real estate has a lot of moving parts, and none of them can happen until you make a decision.
The Belmont real estate trends continue to impress. As other markets go up and down, the Belmont real estate scene continues to bring in great yields for investors, provide homes to happy families, and give everyone an opportunity to buy and live in their dream house.
Do you want to take advantage of all that Belmont has to offer and start looking at homes for sale? If so, working with a local agent like Mary Ann Teixeira is your next best step. Mary Ann would be happy to help you find the Belmont home of your dreams!
