How is the Belle Meade Real Estate Market Doing?
There are currently 9 homes for sale in Belle Meade (compared to 6 last month):
- Highest priced listing $19.5 Million for the huge open bay property with 480′ of water frontage and 29,452 SF of land which includes 7301 and 7305 Belle Meade Island Dr
- Lowest priced listing is $950,000 for the property at 860 NE 72 St which is being sold with already approved architectural plans by the City of Miami
- Pending Sales (Properties under contract): 8
- Median Sales Price in April: $923,000
- Closed sales in April: 6 (compared to 7 in March)
What sold in Belle Meade last month?
For a list of all properties sold in April please email us at BelleMeade@miamism.com
What is the average price per square foot in Belle Meade?
Belle Meade Waterfront Sales
The average price per square foot for Belle Meade waterfront home in April was $675, compared to previous months:
- March’s average – no sales
- February’s average – $830
- January’s average – $790/SF
- 2020’s average of $416
- 2019’s average of $382
Belle Meade Non-Waterfront Sales (Dry Lots)
The average sold price per square foot in Belle Meade for homes not on the water in April was $501, compared to:
- March’s average – $461
- February’s average – $339
- January’s average – $471
- 2020’s average of $921
- 2019’s average of $588
Top 3 Sales in Belle Meade in April (by square footage)
- 1155 Belle Meade Island Dr – Wide Bay home with 120′ of open bay frontage!! This home was originally listed for $2,990,000 in November of 2017. MLS shows a few contracts that fell through and finally sold for $2,450,000 ($721/SF) <<can’t wait to see what is built on this beautiful lot. **cash transaction
- 760 NE 77th St – beautiful and quaint home built in 1937, tastefully updated, with 3 bedrooms / 2 bathrooms, 1,583 SF on 6,250 SF lot (non-waterfront). Listed for $1.1 Million in January and selling for asking price ($663/SF)
- 1100 Belle Meade Island Dr – remodeled home on Belle Meade Island with 5 bedrooms / 5.5 bathrooms, 4,168 SF on 11,390 SF lot with 58′ of water frontage. Listed for $2,950,000 in October of 2020 and selling for $2,850,000 ($629/SF)
Belle Meade Opinion
We provide a comprehensive 3D market report with in-depth data from the last 12 months that you can download HERE.
Some key points you should know:
- Seller’s market with only 2 months of inventory.
- Average Sales Price is $1.3 Million
- Average Discount is 6%
- 2 Sweet spots in sales: homes between $600k-700k and homes above $2 Million.
- 28.6% of all deals are CASH
- 70% of buyers are primary residents