Belle Meade Real Estate Market Report - July 2020

How is The Belle Meade Real Estate Market Doing?

There are currently 22 single-family homes for sale: (compared to 18 in June)

Highest priced listing is ~~$7,850,000~~ $7,495,000 for the bay front, new construction home at 7311 Belle Meade Island Dr.
Lowest priced listing is $595,000 for the 3 bedroom / 3.5 bathroom home at 930 NE 74th St (demolished / unfinished project)
Pending Sales (Properties under contract): 9
Median Sales Price in July: $595,000 (only one sale)
Closed sales in July : 1 (compared to none in June)

Belle Meade Homes Sold in July

There was one home sold in Belle Meade in July. The home located at 820 NE 74th Street with 2 bedrooms / 2 bathrooms, 1,707 sq.ft. on 7,080 sq.ft. lot was listed for $675,000 in November of 2019, had a couple of price reductions and sold for $595,000 ($387/SF).

DOWNLOAD BELLE MEADE MARKET REPORT HERE

Belle Meade Average Price per Square Foot

The average price per square foot for dry lot homes (non-waterfront) homes sold in Belle Meade in July was $387 (only one sale), past averages are as follows:

June’s average – no sales
May’s average – no sales
April’s average $388
March’s average $422
February’s average $280
January’s average $418
2019’s average (not on the water) $382
2018’s average (not on the water) $356

There were no waterfront homes sold in Belle Meade in July. Past average are as follows:

June’s average – no waterfront sales
May’s average $631 (one sale)
April’s average – no waterfront sales
March’s average – no waterfront sales
February’s average – no waterfront sales
January’s average – no waterfront sales
2019’s average (waterfront) $588
2018’s average (waterfront) $683

DOWNLOAD BELLE MEADE MARKET REPORT HERE

Belle Meade’s Real Estate Stats and Opinion

Belle Meade is doing the opposite of neighboring communities. Inventory is slowly increasing and with little to no sales, it’s increasing absorption rates. Prices have not been affected since changes are not significant but this is a trend to watch closely. Absorption rate is at 13 months (buyer’s market) with average price per square foot in the last 12 months at $401 and average discount remains at 6%.

It’s very important to note that buyers are not just local, but coming from Argentina and Colombia as well. There’s a 25.8% investor pool in Belle Meade and these are second home, vacation and true investors. 31% of all deals are cash and the price range that moves the most is between $500,000 and $700,000.

Remember we provide micro-data for markets around South Florida. Real Estate is hyper-local and it’s crucial to analyze data at a micro level to identify not only the right time to buy or sell, but who is buying and what factors will maximize your goals. We also look into demographic information to help identify audiences buying in the area.

For a free copy of this report, click HERE .

We are happy to meet for a no-obligation home valuation consultation, which includes home preparation recommendations as well as marketing strategies. Call me at 306-206-9366 (direct cell) or email me at ines@miamism.com

Featured Belle Meade Home For Sale

Wow is the first word that comes to mind to describe this mid-century beauty on the water in Belle Meade.(photo on header) This home has been impeccably remodeled with 4 bedrooms / 4.5 bathrooms and 3,376 total sq.ft. Every nook and cranny has been thoughtfully designed and the exterior areas are a dream, not no mention the fact that it has 129′ of water frontage and a 14,711 Sq.ft. lot. This magnificent home is located at 7415 Belle Meade Blvd. and was listed on July 31 for $2.7 Million.

For additional information and photos, please contact us.