In the beautiful Belmont Communities, the real estate market kept the upward pace of both national and local Orange County activity last year.  Overall, the OC saw an increase of 9 % in the median selling price of single family homes, while Belmont prices gained over 8%.  The average Belmont selling price of a single-family residence in February 2018 was $1,105,000, down slightly from December 2017’s average selling price of $ 1,115,000, but higher than February 2017’s average median price of $913,750.

LOW INVENTORY -FASTER SELLING TIME

Currently, the real estate market favors sellers all over Orange County.   Available inventory is still  low, with closed sales this year down over 4% from last year.  Total SALES REVENUE is up 4.5%, – while the number of sales were less, homes sold at a higher price.  Less inventory is less time on market-As of February 2018, homes in Belmont average 55 days on market, with selling prices within 96% of original asking price, and averaging $318 per square foot.  At this point, there is less than 3 months supply of homes in our market, and sellers continue to hold the upper hand.

DO UPGRADES MATTER?

Upgrades AND location DO make a difference in selling price.  Upgraded kitchens, master baths, windows and flooring are the most popular updates and will increase your selling price over a home that is not updated. Wood and engineered wood floors are still a favorite, but new elements such as wood-like ceramic tile or even the newer vinyl plank flooring are current as well.   Outdoor living spaces with both hardscaping and lower maintenance, drought-tolerant landscaping is nearly as desirable as a pool.

Market value is determined on an individual basis, as each home is different from the next.  If you would like to know your home’s current market value before adding or upgrading, or, if you are considering selling your home, click below for a more personalized comprehensive report tailored to your home and your situation-

http://www.vickikaiser.com/find-market-value-home-orange-county-search-zip-area-size-locatio