Boom! Boom! in Belmont CC (and I Don’t Mean Fred Couples)

A couple of weeks ago I wrote about the hottest selling zip codes in LoCo, and Belmont Country Club was at the top. Today, let’s take a look at what having the option to join an exclusive private club in Ashburn means for your real estate investment.

Over the last 90 days, 16 townhomes have sold (non-new construction) in Belmont at an average of $473,093. That’s almost double the number of sales during the same time frame last year, with a staggering increase in average sales price from $347,478. Even removing the four foreclosures in 2012 from the equation, there was still more than a $100,000 gain. The days on market also improved year over year, from 58 to 34. As of this morning, there are sixteen townhomes for sale in Belmont, with six of those under contract.

Single family homes sales have increased slightly in the past three months. Interestingly, despite half of this year’s sales being short sales or foreclosures, the average price has jumped almost 6% to $788,195. It is taking a little longer for sellers to realize that extra value, as the average days on market went from fifty-five last year to sixty-nine this year. As of this morning, 29 single family homes are on the market, 12 of which are under contract.

What does this mean for someone interested in Belmont CC? A nice combination of homes available and increased value, making this community a neutral market. We still recommend putting together your best offer to purchase, while sellers can look to recent solds to boost asking prices. If you are thinking about selling your home this spring, the first step is to see what your home may be worth. Click here to get our home value report delivered to your inbox. Thinking about buying? Sign up here for our new listing email alerts.

Cheers,
Mike