belle-meade-real-estate-monthly-market-report-feb-2021

Belle Meade Real Estate – monthly market report – Feb 2021

How is the Belle Meade Real Estate Market Doing?

We have buyers actively looking in Belle Meade right now.  If you are considering selling your home, please contact us ASAP!

There are currently 8 homes for sale in Belle Meade (compared to 5 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 $829,000 for a 3 bedroom / 3 bathroom home at 775 NE 76 St with 1,925 SF, on a 6,250 SF lot ($431/SF)
  • Pending Sales (Properties under contract): 8
  • Median Sales Price in February: $2,075,000
  • Closed sales in February: 4 (same as previous month)

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What sold in Belle Meade last month?

For a list of all properties sold in February, 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

The average sold price per square foot in Belle Meade waterfront homes in February was $830 compared to:

Belle Meade Non-Waterfront Sales (Dry Lots)

The average sold price per square foot in Belle Meade for homes not on the water in February was $339 (only one sale) compared to:

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Top 3 Sales in Belle Meade in February (by square footage)

  • 919 Belle Meade Island Dr – Fully renovated and located inside Belle Meade Island with 5 bedrooms / 5.5 bathrooms, 3,464 SF on 12, 375 SF lot with 75′ of water frontage. Listed in August of 2020 for $3,061,000 and selling at full price ($850/SF) **cash transaction
  • 7308 Belle Meade Island Dr – 3 lots from wide-bay with 5 bedrooms, 5 bathrooms, 3,693 SF on 16,131 SF lot with 103′ of water frontage. Listed in January for $2,795,000 and selling at full price ($828/SF)
  • 1055 Belle Meade Island Dr – remodeled 50’s home with 4 bedrooms / 3 bathrooms, 2,559 SF on 12,375 SF lot with 85′ of water frontage. Originally listed in May of 2018 for $2.347M, lowered to $2.3M in January of 2020, then to $2.075M in December of 2020 and selling for $2.075M ($811/SF)

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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 4 months of inventory.
  • Average Sales Price is $1.1 Million
  • Average Discount is 6%
  • 2 Sweet spots in sales: homes between $500k-700k and homes above $2 Million.
  • 24.4% of all deals are CASH
  • 80.9% of buyers are primary residents

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We have buyers actively looking in Belle Meade right now.  If you are considering selling your home, please contact us ASAP!

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