Sold in Belmont: Reasonable Sales Prices on Three Below Medium Priced Homes

Photo: 37 Bartlett Ave.

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

20 Winter St. Brick Ranch (1961). Sold: $650,000. Listed at $649,000. Living area: 1,248 sq.-ft. 6 rooms, 3 bedrooms, 2.5 baths. On the market: 75 days.

37 Bartlett Ave. Framed Colonial (1905). Sold: $540,000. Listed at $579,000. Living area: 1,334 sq.-ft. 6 rooms, 2 bedrooms, 2.5 baths. On the market: 208 days.

• 103 Shaw Rd. Custom-crafted Ranch (1955). Sold: $815,000. Listed at $809,900. Living area: 1,562 sq.-ft. 7 rooms, 3 bedrooms, 1-full, 2-half baths. On the market: 71 days. 

Three reasonably priced homes, all below Belmont’s median house value of $850,000, sold this week.

For two, the ranch on Winter and the old Colonial on Bartlett, the final sales price was less than 10 percent from the town’s assessed value: The Ranch sold for $650,000 with an assessed value of $592,000 (about nine percent) and the Colonial bought for $540,000 with a town valuation of $494,000 (right at eight-and-a-half percent).

The outlier this week was the custom ranch on Shaw Road in the Shaw Estate’s neighborhood, which has seen house prices bumped up by a smattering of “McMansions.” The final sales price was $815,000, exactly 20 percent greater than its valuation of $652,000.

While hardly a representation of the entire residential market, could this be a harbinger of a more reasonable sales season where values closely relate to true valuations or is that the impact of the snowiest winter ever with buyers staying on the sidelines?

Come back in July for the answer.

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Comments

  1. Jim C says

    Another interesting question is: what impact will a second “no” Override vote have on Belmont’s thriving real estate market? Will househunters who value public schools turn increasingly to other towns where overrides were passed? Will your house be worth $50,000 less because you didn’t want to pay an extra $500 annually in property taxes?

    I hope we don’t have to find out.

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