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

Belle Meade Real Estate – monthly market report – July 2021

How is the Belle Meade Real Estate Market Doing?

There are currently 8 homes for sale in Belle Meade (compared to 10 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): 5
  • Median Sales Price in July: $1,100,000
  • Closed sales in July: 3 (compared to 4 in June)

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What sold in Belle Meade last month?

For a list of all properties sold in July 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 July. Averages of previous months:

  • 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 July was $490, compared to:

  • 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 July (by square footage)

  • 7260 NE 7th Ave – gorgeous updated home with 3 bedrooms / 2 bathrooms, 1,765 SF on 7,670 SF lot. This home was listed for $969,000 in June and sold for $1,100,000 ($623/SF)
  • 920 NE 73 St – charming 40’s home with 2 bedrooms / 2.5 bathrooms, 1,926 SF on 10,620 SF lot.  Listed for $869,000 in May and selling for $871,000 ($452/SF)
  • 674 NE 72 Ter – large home with 5 bedrooms / 4 bathrooms, 3,391 SF on 9,075 SF lot. Originally listed for $1.399M in March, lowered to $1.365M and selling for $1.335 M ($394/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 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.
  • 25.9% of all deals are CASH
  • 69.5% of buyers are primary residents

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