How is The Belle Meade Real Estate Market Doing?
There are currently 19 single-family homes for sale: (compared to 24 last month)
- 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 $555,000 for the charming 1935 3/2 at 7526 NE 6th Ct (outside of the gated area of Belle Meade)
- Pending Sales (Properties under contract): 7
- Median Sales Price in November: $1,105,000
- Closed sales in November: 1 (compared to 2 in October)
The Belle Meade home sold in November was beautifully remodeled with oversized lot of 14,785 SF. The home has 3 bedrooms / 3.5 bathrooms and 1,867 SF of adjusted area. It was listed for $1,299,000 in February and closed for $1,105,000 ($465/SF).
Average price per square foot for Belle Meade homes not on the water in November was $465 (only one sale), compared to previous months:
- October’s average $380 (one sale)
- September’s average $454
- August’s average $298 (one sale)
- July’s average $328
- June’s average –no sales
- May’s average $365
- April’s average $399
- March’s average $369 (one sale)
- February’s average $374
- January’s average $294 (one sale)
- 2018’s average (not on the water) $356
There were no waterfront homes sold in Belle Meade in November. The price per square foot for homes on the water in previous months was:
- October’s average $651 (one sale)
- September’s average $673 (one sale)
- August’s average $306 (one sale) **unbuilt land with plans
- July’s average $687 (one sale)
- June’s average – no sales
- May’s average – $796 (one sale)
- April’s average – no sales
- March’s average – no sales
- February’s average $414 (one sale)
- January’s average – no sales
- 2018’s average (waterfront) $683
There are 13 months of inventory in Belle Meade at the moment and only 44% of closings are CASH deals, without financing.
Our new market reports are available to you upon request or once a month if you request to be added to our mailing list. (We don’t spam and only send relevant content you request).
The micro-data provided in our new reports really help you understand the real estate market at a hyperlocal level and will help you make an educated decision on when to buy or sell, how to market aggressively and how to properly negotiate.
There’s a huge jump in price per square foot between 2 and 3 bedroom homes and same applies to lot size. Did you know that the price range that moves the most is between $500,000 and $700,000. We have the ability to really analyze the time it will take for your home to sell as well as know discount averages for the area and particular brokerages and agents.
And finally, for a no-obligation home value report, visit MiamismValue.com or contact us for a consultation.