Home Values - Belmont Woods Townhomes
Average and Median Home Price of Belmont Woods Townhomes Sold
When trying to understand Belmont Woods neighborhood values for townhouses the first and most often real estate trend looked at is either average or median townhouse sales price. The average price can be pushed up by a particularly expensive townhouse being sold. Much less often an especially low price for several townhouses can push the average price down. By looking at both average and median price a quick judgment can be made about any unusually high or low prices. When a townhouse development is offered for sale, the number of units offered can shift both average and median prices distorting Belmont Woods real estate trends.
Quarterly Average Price of Belmont & Belmont Woods Townhomes Sold
Price Per Square Foot for Belmont Woods Townhomes Sold
The average sales price of townhouses is typically affected by the average size of the townhouses sold. If a new development comes up for sale, the average size can be affected which in turn affects the average sales price. This same development may affect trends a second time about five years later if many of the first purchasers decide to sell and move to a bigger home. Looking at price per square foot gives a partial adjustment for changes in the typical townhouse sold.
Quarterly Average Price Per Square Foot for Belmont & Belmont Woods Townhomes Sold
Sales Price vs. List Price for Belmont Woods Townhomes Sold
Belmont Woods townhome buyers and sellers want to know the typical relationship between list price and sales price. This relationship varies with city and time. The plots below show trends for this relationship using color coding which generally highlights changes in the market. More townhomes being sold over list price is a very good indicator of rising townhome prices. More townhomes being sold under list price is a very good indicator of falling townhome prices. Comparing Belmont Woods townhome prices to Belmont Woods house prices can give you more insight into whether there is a general change in Belmont Woods home prices or if something unique to townhomes is happening.
Quarterly Average Sales Price & List Price for Belmont Woods Townhomes Sold
Number of Belmont Woods Townhomes Sold
A quick estimate of how active the Belmont Woods townhome real estate market is, can be found by looking at the number of townhomes sold. Locally there is a strong seasonal change in the number of homes sold. The lowest number of homes sold typically occurs around December & January. The highest number of homes sold typically occurs around May. This seasonal trend is often altered for townhome sales by a large new development beginning to sell their townhomes. Price changes do not track the seasonal change in the number of townhomes sold.