How is the Belle Meade Real Estate Market Doing?
There are currently 11 homes for sale in Belle Meade (compared to 9 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): 5
- Median Sales Price in May: $1,500,000
- Closed sales in May: 3 (compared to 6 in April)
What sold in Belle Meade last month?
For a list of all properties sold in May 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 May was $853 (only one sale), compared to previous months:
- 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 May was $457, compared to:
- April’s average – $501
- March’s average – $461
- February’s average – $339
- January’s average – $471
- 2020’s average of $921
Top (and only) 3 Sales in Belle Meade in May (by square footage)
- 905 Belle Meade Island Dr – 4 bedroom/3 bathroom waterfront home with 3,177 SF on 16,500 SF lot with 100′ of water frontage. Home was listed in February for $2,799,999, increased to $2,800,000 2 days later and sold for $2,650,000 ($853/SF) **cash transaction
- 941 NE 73 St – 6 bedrooms / 5 bathrooms, 3,241 SF on 15,930 SF lot (non-waterfront). Listed in March for $1,650,000 an sold for $1.5 Million ($463/SF)
- 7526 NE 6 Ave – 3 bedrooms / 2 bathrooms, 1,390 SF on 5,400 SF lot (non-waterfront). Listed in April for $615,000 and sold for $625,000 ($450/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 3 months of inventory.
- Average Sales Price is $1.4 Million
- Average Discount is 6%
- 2 Sweet spots in sales: homes between $600k-700k and homes above $2 Million.
- 25.9% of all deals are CASH
- 70.9% of buyers are primary residents