Photo: A $2 million house? 

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

• 169 Orchard St., Brick Colonial (1930). Sold: $930,000. Listed at $1,999,000. Living area: 2,664 sq.-ft. 9 rooms, 5 bedrooms, 2 baths. On the market: 340 days.

• 38 Taylor Rd., Brick split ranch (1955). Sold: $886,000. Listed at $869,000. Living area: 1,759 sq.-ft. 8 rooms, 3 bedrooms, 3 baths. On the market: 47 days.

• 13 Francis St., Condo in a two family (1927). Sold: $610,000. Listed at $579,000. Living area: 1,729 sq.-ft. 7 rooms, 4 bedrooms, 2 baths. On the market: 60 days.

• 45 Middlecot St., Colonial (1953). Sold: $905,000. Listed at $869,000. Living area: 1,610 sq.-ft. 6 rooms, 3 bedrooms, 2.5 baths. On the market: 46 days.

• 11 Rutledge Rd., Colonial (1940). Sold: $1,125,000. Listed at $1,199,000. Living area: 2,535 sq.-ft. 10 rooms, 5 bedrooms, 2.5 baths. On the market: 74 days.

• 25 Thayer Rd., Condominium (1958). Sold: $275,000. Listed at $274,900. Living area: 615 sq.-ft. 4 rooms, 1 bedrooms, 1 baths. On the market: 80 days.

• 318 Trapelo Rd., New attached condominium townhouse (2015). Sold: $1,035,000. Listed at $1,100,000. Living area: 2,900 sq.-ft. 9 rooms, 3 bedrooms, 3 full, 2 half bedrooms baths. On the market: 208 days.

• 104 Lewis Rd # 2., Condominium in two family (1923). Sold: $525,000. Listed at $499,000. Living area: 1,349 sq.-ft. 7 rooms, 2 bedrooms, 1 baths. On the market: 60 days.

• 100 Lexington St. Apt C3, Classic Colonial (1977). Sold: $238,000. Listed at $239,000. Living area: 774 sq.-ft. 3 rooms, 1 bedrooms, 1 baths. On the market: 95 days.

• 55 South Cottage Rd., Townhouse (2012). Sold: $1,240,000. Listed at $1,249,000. Living area: 2,800 sq.-ft. 7 rooms, 2 bedrooms, 2.5 baths. On the market: 124 days.

• 53-55 Trowbridge St., Brick multi-family (1973). Sold: $900,000. Listed at $869,988. Living area: 3,200 sq.-ft. 13 rooms, 6 bedrooms, 3 full, 2 half bedrooms baths. On the market: 84 days.

• 21 Bartlett Ave., Second floor condominium (1964). Sold: $507,000. Listed at $484,000. Living area: 1,173 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 82 days.

If you attend St. Joe’s or walk your kids to Wellington Elementary, you are certain to have seen the brick Colonial at the north corner of the intersection of Common and Orchard streets. It’s at the crosswalk that’s busy twice each day school is in session and on Saturday before and after afternoon mass. It’s been owned by the same family for more than 50 years according to town assessor records. 

It’s one of several brick homes built by the same developer in and around 1930, solidly built (although the roof looks a bit threadbare) with lots of period interior features: wood floors, built-in cabinets in the dining room, original molding and baseboards and a custom center spiral staircase. There’s the standard upgraded kitchen with the standard cabinets and horrid granite countertop. It’s not a small house by any standard, at 2,700 sq.-ft. with five bedrooms, but several of the rooms do appear a bit … tight, such as the rectangular living room at 14×25 (the big bedroom is 20×16), dining room, 13×14, and a family room of 11×18. Throw furniture into the rooms and your walking sideways to get here to there. 

 All in all, a solid 85-year-old house … that’s worth $2 million? Gagh! Talk about reaching for the stars. While over the past decade, homes on Common Street have reached the $1 million threshold, rarely do you see a single family home breech $2 million outside of Belmont Hill. But there it was: a listing price of $1,999,000 in June, 2015, a mere thousand dollars from a double mill. Yes, Colonials are selling for a premium, but by more than a million dollars over its fiscal 2016 assessed value of $927,00?

[Editor: There is some readers who contend that the $1,999,000 is a misprint. Maybe so but it’s in the MLS under that amount.]

The initial price tag could have simply been a homeowner cashing in during a two-year stretch when property values soared by more than $200,000:  

• 2016: $927,000
• 2015: $845,000
• 2014: $711,000

But even your wildest dreams need some basis in reality, and quickly the sales price tumbled by $800,000 to $1,199,000. And while the new listed price was that’s nearly $300,000 greater than the assessed value, it appeared the salesperson and owner were going to make that price work come hell or high water, stubbornly sitting on the price for seven months. Yet the broker had to put the waders on as buyers were unwilling to part with their hard-earned cash. 

Despite two price reductions – $1,099,000 in February and $1,050,000 in March – the brick Colonial sat there as the Spring season was about to pass them by. Likely, a buyer put a “low-ball” bid on the property which was happily accepted at $930,000, nearly bang-on the assessed value of $927,000. And for once, the market value prevailed.

The twin is sold

Back in March, one half of newly-built attached townhouses was sold on busy Trapelo Road for $1,040,000. The story of the condos – located the the midst of the hurly-burly of the Fire Department, banks, parks and a busy roadway – showed that sometimes a good design and new construction can be a success, even if you have to share a common wall and no backyard. 

Last week, the other half of the townhouse was purchased for $1,035,000. A bargain.

Photo: A townhouse condo that took off like a single-family.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

• 80 Maple St., Townhouse condominium (1993). Sold: $715,000. Listed at $639,000. Living area: 2,008 sq.-ft. 6 rooms, 3 bedrooms, 2.5 baths. On the market: 66 days.

• 133 White St., Condominium (1928). Sold: $513,000. Listed at $515,000. Living area: 1,431 sq.-ft. 7 rooms, 2 bedrooms, 1 baths. On the market: 87 days.

Two former two families now individuals condominiums sold last week with differing outcomes. The newly-converted condo that once was a multiple family on White Street was able to hit its list price of just more than $500,000.

While over on Maple Street, the more traditional townhouse hit the right note for one buyer resulting in a $75,000 premium over the $639,000 list price. The final sales price is a whopping $150,000 more than the town’s appraised value of $561,000 and $220,000 more than when was last sold in 2009.

The nearly quarter-century old townhouse does provide three bedrooms and approximately 2,000 square feet, although the interior appears to have all the hallmarks of a townhouse; open floor plan, narrow room on the ground floor – note how tiny the living room is (is it more a living “space” with the small divider separating the entry way/front door), an updated but smallish kitchen area, and not so spectacular room details.

But with the medium price of single-family homes reaching the high six figures, buyers are willing to put down extra for a condo that resembles a traditional residential structure even if it does share a common wall with its neighbor. Take a look at the newly-constructed townhouse that sold last month on Trapelo. Despite being located across the street from the Fire Department headquarters, next to the VFW, a funeral parlor, a popular park and fronting a busy state highway, it sold for a million dollars. 

Photo: Small and livable on the Elm.

A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes”:

• 17 Little Pond Rd., Colonial (1947). Sold: $750,000. Listed at $779,000. Living area: 1,542 sq.-ft. 7 rooms, 3 bedrooms, 1.5 baths. On the market: 123 days.

• 54 Elm St., Brick Colonial condo (1928). Sold: $549,000. Listed at $549,000. Living area: 1,162 sq.-ft. 6 rooms, 2 bedrooms, 1.5 baths. On the market: 62 days.

Today, many home buyers wouldn’t deem it worth their time to view a house that is smaller than 2,000 square feet. And as for new construction, 3,000 square feet appears the new minimum. Anything smaller is too “cozy” (translation: SMALL) for most modern families, the thinking goes. 

But do you need a “great room” – remember when they were called living rooms? – with a kitchen the size of would equip a good-sized restaurant (so you can microwave dinner) in a floor plan in which you need roller skates to navigate the manse? Is it necessary to have five bedrooms when you only have two kids and relatives come by once a year and stay at the Meridian? A full size “play” space with the jacuzzi that no one uses? You’re a success of what you do, not what you own.

For a growing number of people, minimizing their footprint and their lives has become an important aspect of their lives. And there is a segment of the housing market to match these new demands. There is the extreme “tiny” home (300 square feet) phenomenon going on in the South and West – there aren’t any of these in Belmont … yet! – and the growing popularity of home designs and plans for homes with under 1,000 square feet, again outside of New England. 

A pair of properties that sold this week in Belmont show why you would be wrong to think that big is better. The classic center-entry Colonial – just a bit over 1,500 square feet – on Little Pond shows what a little living care can go a long way to bring warmth and a modern feel to a fairly standard post-war design. The kitchen was upgraded with design smarts behind it, with new appliances and warm cherry color cabinets and Cambria countertop (Yes! anything but granite!). Space is not wasted here; you do most of your eating at the kitchen table adjacent where you cook (what a concept), and the bikes are parked beside the side door. The living room is a hop and step way and there is a dining room that is fine for most events; the stairway leads to three bedrooms and the full bathroom which was updated. Again, not a master suite in the boudoir but a bedroom that serves its function. Not a half acre out back for the coyotes to roam but a place for a grill and games. 

The condo on Elm is fascinating as it was a single family segmented into condos. I know something of this as my grandfather and his employer, a banker, “bought” – they foreclosed on an elderly man and threw him into the street in 1930 – a beautiful 1874 Colonial Revival with Victorian elements on Aldersey Street in Somerville. They literally split the house down the middle including dividing the grand staircase (!) and master bathroom.

But here, a magnificent brick and frame Colonial was converted into condominiums in 2010 with the space separated horizontally (thankfully!) with the first-floor space having 38 percent ownership and the second and third floor with 62 percent (with 1,900 square feet).

As a side note; what a great way to foster affordability to Belmont by taking those big homes and turning it into condos or apartments. Solidly built, they can be converted with a little care allowing buyers who can’t afford a seven-figure mortgage into Belmont.

Sure it’s 1,100 square feet, but the buyer is getting a condo with a sense of largeness, big rooms and lots of windows, which, if smartly used, you can create a loft feel which is pretty cool. The kitchen is spare but again, just a few upgrades and you can have a combo kitchen/dining area. Plus, no stairs and a big porch where you can spend summers getting a bit tipsy on wine coolers. 

3,500 square feet? So passé! Go small.