Belle Meade Real Estate Market Report for 2019
2019 Belle Meade Real Estate Stats are in! My favorite time of the year for neighborhood stats is when I report the previous year’s numbers because it really puts into perspective the changes and gives you a good forecast of what’s to come.
You will see by the analysis that waterfront sales in Belle Meade proved to be challenging in 2019 but homes not in the water had a favorable outcome. Please keep in mind that inventory continues to be low but because of the rate of sales, it’s still a buyer’s market with 10 months of inventory. (It would take 10 months to sell all homes currently listed, a the rate of sales today).
Foreign markets like France, Mexico, Colombia and Argentina, are attracted and buying in Belle Meade and these are for 2nd homes/vacation properties, since there’s only a 22.2% investor ownership in the community.
We are providing micro-data that really gets granular and helps you identify when to buy or sell. We provide these reports at no cost, with no obligation. Please click HERE to download the complimentary real estate 3D Analyzer for Belle Meade.
There were 31 homes sold in Belle Meade in 2019, and 6 of them were waterfront. Take a look at the different stats below, which include changes in average price per square foot and highest sales.
Belle Meade Waterfront Homes – Price per Square Foot
Take a look at the changes in average price per square foot for homes on the water in Belle Meade:
| Year | Price per SF | Number of Sales | Highest Sale |
|---|---|---|---|
| 2019 | $588/SF | 6 | $3.435M |
| 2018 | $683/SF | 6 | $6.25M |
| 2017 | $646/SF | 3 | $4.3M |
| 2016 | $450/SF | 4 | $1.5M |
The highest waterfront sale in 2019 for the new construction at 7333 Belle Meade Blvd. This 5,000 SF home sits on an 11,528 SF lot with 73′ of canal frontage and sold at $687/SF and was a cash transaction. In 2018, there were 6 waterfront sales in Belle Meade with the highest being at $6.25 Million and lowest at $1,089,500 – the highest price per square foot was $816 and the lowest $538.
Please keep in mind that Belle Meade has different types of waterfront and this makes a huge difference when making comparisons. You will have canal-front homes facing the marina. You will have Belle Meade Island homes on the canal or open bay and you will have bay-front homes on actual Belle Meade. Although there are not a lot of sales to be able to make the right comparisons, Belle Meade Island because of its double privacy (second security gate), is more desirable. Four out of the 6 waterfront sales in 2019 were in Belle Meade Island.
The highest priced waterfront home in Belle Meade right now is asking $7.95 Million (new construction bay front on Belle Meade Island), and the lowest priced waterfront home is asking $1.449 Million – canal front facing Belle Meade Island.
Belle Meade Dry-Lot Homes – Price per Square Foot
Take a look at the changes in average price per square foot for homes NOT on the water in Belle Meade:
| Year | Price per SF | Highest Sale |
|---|---|---|
| 2019 | $382/SF | $1,105,000 |
| 2018 | $356/SF | $949,000 |
| 2017 | $361/SF | $739,000 |
| 2016 | $347/SF | $840,000 |
Although waterfront sales are struggling in Belle Meade, that’s not the case for homes not on the water. Prices continue to increase but that increase is conservative. I mentioned to keep an eye out for increases because of remodeling in construction that was evident in 2018 and the increase definitely reflects that.
The highest priced non-waterfront home in Belle Meade right now is asking $1,449,000 (4 bedrooms/3 bathrooms, 2,400 SF on 12,362 SF lot), and the lowest priced non-waterfront home is asking $549,000 (small 3 bedroom/2 bathroom home outside of guard gate)
Belle Meade Real Estate Market Report for 2019
The general figures for Belle Meade homes in 2019 are the following:
- There were 31 Belle Meade homes sold in 2019. The median sales price was $660,000 compared to $637,500 in 2018 and $592,500 in 2017.
- The highest sale in Belle Meade in 2019 was for the canal front, new construction at 7333 Belle Meade Blvd. This was a 5 bedroom / 5.5 bathroom home with 5,000 SF on 11,528 SF lot and 73′ of water frontage. This home was originally listed for $3.95 Million in January of 2019 with a few price reductions and selling for $3.435M in July at $687/SF.
- The lowest Belle Meade home sold in 2019 was for a small, starter home at 739 NE 73 St. This 2 bedroom / 1 bathroom home with 1,169 SF on 5,900 SF lot, was originally listed for $570,000 in May of 2018, relisted for $505,000 in December of 2018 and sold for $470,000 ($402/SF)
- There were no distressed sales in 2019 in Belle Meade (foreclosures or short sales).
List of Belle Meade Homes Sold in 2019
To get a list of all Belle Meade homes sold in 2019, please contact us.