Record breaking year does not even begin to describe Belle Meade’s Real Estate stats in 2021. Very much like the rest for the country, ver little inventory and super high demand, sent prices soaring!! Some buyers even going door knocking because they are willing to overpay for a place they can call home. I personally don’t blame them, the name of the game is how high are you willing to go.
But let’s be realistic about the market –> if you do your numbers right, consider record low interest rates, historic appreciation, and you are looking to remain in your home for at least 3-5 years, pulling the trigger at what seems like high prices, may be the right strategy.
Belle Meade is currently an aggressive seller’s market with only days of inventory. This is a market where you can expect multiple offers and bidding wars. Buyers need to be creative, need to have finances and paperwork ready and most importantly, work with REALTORS with a great reputation amongst their peers, in order to have a better chance of getting offers accepted.
Although CASH is king, only 37.9% of all deals in 2021 were actual cash transaction. Belle Meade is community driven with 70.7% of buyers occupying their home as a primary resindence.
Please note that we prepare Belle Meade Real Estate monthly reports on the 4th week of every month. So come back to check out the stats.
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.
Although inventory is low, there were 51 homes sold in 2021 compared to 32 in 2020 (this gives you an idea that the market is not at all as depressed as many may think). 16 of those 51 homes were waterfront sales, compared to only 5 in 2020. 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:
Price per SF
Number of Sales
The highest waterfront sale in 2021 was for the new construction at 1133 Belle Meade Island Dr. This home is almost bay front, was listed for $14.9 Million in August and sold for $13,250,000. A gorgeous 5 bedroom / 5.5 bathroom modern home with 8,200 SF, 13,172 Sq.Ft. lot with 12′ of water frontage and closed at $1,616/Sq.Ft. as a cash transaction.
The 16 Belle Meade waterfront sales ranged between $1.6 Million to $13.25 Million and between $629 and $1,883 Sq.Ft. Only 5 homes out of the 16 were located outside of Belle Meade Island.
The highest priced waterfront home actively for sale right now in Belle Meade is asking $19.5 Million (480′ of water frontage with 2 properties at 7301 and 7305 Belle Meade Island) and has been on the market since December of last year. The lowest priced waterfront home is asking $1,999,000 and it’s for the historic, Tudor-looking home at 795 NE 77th Ter with 50′ of water frontage.
The general figures for Belle Meade homes in 2020 are the following:
There were 51 Belle Meade homes sold in 2021, compared to 32 in 2020. The median sales price was $1,100,000 in 2021 compared to $670,000 in 2020 and $660,000 in 2019.
The highest sale in Belle Meade in 2021 was the waterfront home built in 2021 (described above), selling at $13.25 Million.
The lowest Belle Meade home sold in 2021 was a charming 1937 home with 2 bedrooms / 2 bathrooms and 6,250 Sq.Ft. lot. It was listed for $540,000 in December of 2020 and sold for $530,000 in February at $339/Sq.Ft. and as a cash transaction.