Belle Meade Real Estate – monthly market report – August 2021
How is the Belle Meade Real Estate Market Doing?
There are currently 10 homes for sale in Belle Meade (compared to 8 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 $899,000 for the 3/2 at 674 NE 75th St ($659/SF)
- Pending Sales (Properties under contract): 7
- Median Sales Price in August: $990,000
- Closed sales in August: 3 (same as July)
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What sold in Belle Meade last month?
For a list of all properties sold in August please email us at BelleMeade@miamism.com
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What is the average price per square foot in Belle Meade?
Belle Meade Waterfront Sales
There were no waterfront homes sold in Belle Meade in August Averages of previous months:
- July’s average – no sales
- June’s average – $1,497 (one sale)
- May’s average – $853 (one sale)
- April’s average – $675
- March’s average – no sales
- February’s average – $830
- January’s average – $790/SF
- 2020’s average of $416
Belle Meade Non-Waterfront Sales (Dry Lots)
The average sold price per square foot in Belle Meade for homes not on the water in August was $589 compared to:
- July’s average: $490
- June’s average: $568
- May’s average – $457
- April’s average – $501
- March’s average – $461
- February’s average – $339
- January’s average – $471
- 2020’s average of $921
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Top (and only) 3 Sales in Belle Meade in August (by square footage)
- 769 NE 76 St – 2 bedrooms / 2 bathrooms with 1,837 SF on 6,250 SF lot. This property was purchased for $601,400 in November of 2020 and resold for $1.1 Million ($599/SF) **cash transaction
- 7331 NE 7th Ave – 3 bedrooms / 2 bathrooms with 1,661 SF on 5,900 Lot. Listed for $999,999 in June and sold for $990,000 ($596/SF)
- 782 NE 77th St – 2 bedrooms / 2 bathrooms with 1,225 SF on 6,250 SF lot. Listed for $699,000 in March and sold for $699,000 ($571/SF **cash transaction
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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-$900k and homes above $2 Million.
- 28% of all deals are CASH
- 72% of buyers are primary residents