How is the Belle Meade Real Estate Market Doing?
There are currently 5 homes for sale in Belle Meade:
- 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 $855,000 for the 3/2 home at 960 NE 74th St with 1,528 SF and 7,080 SF lot ($560/SF)
- Pending Sales (Properties under contract): 11
- Median Sales Price in January: $3.3 Million
- Closed sales in January: 4
What sold in Belle Meade last month?
For a list of all properties sold in January, please email us at BelleMeade@miamism.com
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 January was $790 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 January was $471 compared to:
Top 3 Sales in Belle Meade in January (by square footage)
- New construction on the water at 885 NE 76th Street with 4 bedrooms / 4.5 bathrooms, 4,279 SF on 9,150 SF lot with 61′ of water frontage. This home was listed for $3.595 Million in July of 2020 and sold for $3.35 ($783/SF)
- New construction on the water (same builder as property above) – at 875 NE 76 St with 5 bedrooms / 4.5 bathrooms, 4,141 SF on 9,150 SF lot with 61′ of water frontage. This home was listed for $3.495 Million in July of 2020 and sold for $3.3 Million ($797/SF) with $150,000 seller’s contribution.
- Non-waterfront home at 901 NE 73 St with 4 bedrooms / 3 bathrooms, 1,804 SF on 10,620 SF lot. It was listed for $895,000 in August of 2020 (MLS shows a contract that fell through), relisted for $950,000 and sold for $825,000 ($457/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 5 months of inventory.
- Average Sales Price is $1 Million
- Average Discount is 6%
- 2 Sweet spots in sales: homes between $500k-700k and homes above $2 Million.
- 25.6% of all deals are CASH
- 77.8% of buyers are primary residents