“During the pandemic, the market in Belmont was extremely hot,” said Nancy Grignon of Berkshire Hathaway HomeServices Commonwealth. “There wasn’t enough inventory. You were getting multiple offers on properties. They were going way over asking,” she said.
The fall real estate market is expected to continue to be strong as it was this past spring, according to seasoned brokers/realtors Grignon and David Hurley, also of Berkshire Hathaway HomeServices Commonwealth.
“It’s still a sellers’ market,” said Hurley.
The interest rate for mortgages is also still very good, in the high 2s, according to Grignon.
The average sale price for a single family home as of Sept. 20 is $1,545,279 million. There are currently six single family homes listed for more than $2.5 million.
Sales strong despite pandemic
Some buyers offered $20,000 to $300,000 over the asking price, and an average of 10% to 15% over the asking price was commonplace, Grignon said.