Photo: A classic pre-war Cape.
A weekly recap of residential properties sold in the past seven-plus days in the “Town of Homes.”
12 Bayberry Ln., Townhouse condominium (2006). Sold: $1,260,000. Listed at $ 1,298,000. Living area: 2,740 sq.-ft. 8 rooms, 3 bedrooms, 2.5 bath. On the market: 92 days.
33 Homer Rd., Garrison Colonial (1940). Sold: $1,550,000. Listed at $1,639,000. Living area: 3,469 sq.-ft. 11 rooms, 4 bedrooms, 3.5 baths. On the market: 157 days.
64 Hoitt Rd., Classic Cape (1951). Sold: $714,000. Listed at $689,000. Living area: 1,272 sq.-ft. 7 rooms, 4 bedrooms, 1.5 baths. On the market: 70 days.
3-1 Agassiz, Condominium (2006). Sold: $570,000. Listed at $ 569,000. Living area: 2,157 sq.-ft. 7 rooms, 3 bedrooms, 2.5 bath. On the market: 63 days.
9 Gilmore Rd., Cape (1938). Sold: $755,000. Listed at $719,000. Living area: 1,488 sq.-ft. 7 rooms, 3 bedrooms, 1.5 baths. On the market: 49 days.
89 Hammond Rd., Colonial (1925). Sold: $900,000. Listed at $869,000. Living area: 1,776 sq.-ft. 7 rooms, 3 bedrooms, 2.5 baths. On the market: 77 days.
76 Lawrence Lane, Colonial (1937). Sold: $992,000. Listed at $1,195,000. Living area: 3,293 sq.-ft. 11 rooms, 6 bedrooms, 5 baths. On the market: 84 days.
15 Marlboro St., #1, Condominium (1906). Sold: $495,000. Listed at $489,900. Living area: 1,064 sq.-ft. 6 rooms, 2 bedrooms, 1 bath. On the market: 48 days.
The Belmont residential market appears to have returned to last year’s script: high-end houses will take a haircut before selling while prices for more modest abodes – especially lower than the town’s median value of $845,000-ish – will hold up in an environment where the inventory for more affordable units can not keep up with demand.
A great example is the solid Colonial on Lawrence Lane up on Belmont Hill. This pre-war house is large, at approximately 3,300 square feet, with five baths and six bedrooms which appears to be what every buyer is clamoring to find. But despite great period detail such as a wonderful in-wall bookshelf in the den and an updated kitchen (including two dreadful skylights), the final sales price was $200,000 below the original list, falling before the seven figure benchmark. Could it be that while priced right for a similar-sized house built within the past five years, it may have been seen as “old” and lacking the finer points of the new mega-homes such as 15-foot ceilings and an open floor plan?
The buyer who “won” the week was the person who purchased the beautiful Cape on Gilmore. At 1,500 square feet, it would be considered a bit of a squeeze for some families. But others would find it warm and cozy with a great three-season porch that will get a great deal of use, that is until the construction of the Uplands gets underway.