belle-meade-real-estate-market-report-october-2018

Belle Meade Real Estate Market Report – October 2018

How is The Belle Meade Real Estate Market Doing?

There are currently 22 single-family homes for sale (compared to 26 last month)

  • Highest priced listing is $8,450,000 for the modern, open bay, new construction at 7311 Belle Meade Island Drive with 75′ of open bay frontage
  • Lowest priced listing is $555,000 for the 3/2 home at 736 NE 74 St
  • Pending Sales (Properties under contract): 2
  • Median Sales Price in October – no sales
  • Closed sales in October: 0

There were no Belle Meade sales in October

Price per square foot for Homes not on the water:

  • October **no sales
  • September **no sales
  • August average $315 (only one sale)
  • July average $302 (only one sale) 
  • The average price per square foot for non-waterfront homes for the first 6 months of 2016 was $353.  

Price per square foot for Homes on the water:

  • October **no sales
  • September **no sales
  • August average **no waterfront sales
  • July average $664 (only one sale)
  • The average price per square foot for waterfront homes for the first 6 months of 2016 was $723. 

Let me start this real estate market report with a huge **YAWN** – no sales in the last 2 months!! This is not a misprint, inventory in Belle Meade continues to drop and with nothing to report in sales, this has to be the most boring market report ever!

What exactly does it mean when a neighborhood reports no sales?  If you are a glass half-full type of person, it means your neighborhood is strong, resistant to change and will not conform to a changing market.  If you are a pessimist, it means homes are listed too high and if you want to sell, you will need to drop that price!

Either way, remember that a sale is dependent on 2 parties willing to make a deal.  Your willingness to negotiate as both seller and/or buyer will be key in Belle Meade’s market and we’ll keep a close eye on movement.

If you grab 33138’s stats, that go beyond Belle Meade, you’ll see that conditions favor buyers and the market has shown evidence of slowing down. Check out our REAL-TIME reports for the 33138 zip code that you can sign up with or request a home value report from MiamismValue.com.

Belle Meade House of The Month

The Miamism Sales Team recommends the 1938 home at 769 NE 76 St.  The main home has 2 bedrooms and 2 bathrooms, with an open plan and really great kitchen and details and it has a separate 1 bedroom / 1 bathroom cabana with a pool.  Total square footage is 2,175 and lot is an average size of 6,250 SF.  This amazing home is fully renovated, has great curb appeal and sits within Belle Meade’s gate and it’s being offered for $675,000. ($367/SF)

Please click HERE or below to get additional photos and information about the property and contact us to schedule a private showing appointment.