Belle Meade Real Estate – monthly market report – November 2021
How is the Belle Meade Real Estate Market Doing?
There are currently 8 homes for sale in Belle Meade (same as last month):
- Highest priced listing $19.5 Million for the huge open bay property with 480′ of water frontage and 29,452 SF of land which includes 7301 and 7305 Belle Meade Island Dr
- Lowest priced listing is $725,000 for the 2/1 home at 828 NE 76th St.
- Pending Sales (Properties under contract): 8
- Median Sales Price in November: $1 Million
- Closed sales in November: 5 (same as October)
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What sold in Belle Meade last month?
There were 5 Belle Meade Homes sold in November. For a list of all properties sold in past months please email us at BelleMeade@miamism.com
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What is the average price per square foot in Belle Meade?
Belle Meade Waterfront Sales
There were 2 waterfront homes sold in Belle Meade in November averaging $1,503 per square foot. Averages of previous months:
- October’s average -$823
- September’s average – no sales
- August’s average – no sales
- July’s average – no sales
- June’s average – $1,497 (one sale)
- May’s average – $853 (one sale)
- April’s average – $675
- March’s average – no sales
- February’s average – $830
- January’s average – $790/SF
- 2020’s average of $416
Belle Meade Non-Waterfront Sales (Dry Lots)
There were 3 dry-lot Belle Meade homes sold in November averaging $645/SF, average sold price per square foot in past months as follows:
- October’s average – 594
- September’s average – no sales
- August’s average: $589
- July’s average: $490
- June’s average: $568
- May’s average – $457
- April’s average – $501
- March’s average – $461
- February’s average – $339
- January’s average – $471
- 2020’s average of $921
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Top 3 Sales in Belle Meade in November (by square footage)
- 1950’s canal-front home in Belle Meade Island with 4 bedrooms / 3 bathrooms, 2,257 SF on 21,945 SF lot with 133′ of water frontage. This home was listed for $3.75 Million in May, MLS shows a contract that fell through and was relisted for $3.65 Million – It sold for $3,558,750 ($1,577/SF) *cash transaction
- Canal front home in Belle Meade Island with 4 bedrooms / 3 bathrooms, 1,996 SF on 12,375 SF lot with 75′ of water frontage. It was listed for $2.85 Million in August and sold for full price ($1,428/SF) *cash transaction
- Beautiful 30’s home on a dry lot at 641 NE 92 St with 3 bedrooms / 2 bathrooms, 1,010 SF on 8,850 SF lot. This home sold for $620,000 in October of 2020, was relisted for $1,075,000 the same day and sold for $1 Million ($990/SF) *cash transaction
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Belle Meade Opinion
We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.
Some key points you should know:
- Seller’s market with only 3 months of inventory.
- Average Sales Price is $1.8 Million
- Average Discount is 6%
- Sweet spot in sales: homes between $1-1.5 M and above $2 Million
- 34.5% of all deals are CASH
- 72.2% of buyers are primary residents