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

Belle Meade Real Estate – monthly market report – November 2021

How is the Belle Meade Real Estate Market Doing?

There are currently 8 homes for sale in Belle Meade (same as 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 $725,000 for the 2/1 home at 828 NE 76th St.
  • Pending Sales (Properties under contract): 8
  • Median Sales Price in November: $1 Million
  • Closed sales in November: 5 (same as October)

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What sold in Belle Meade last month?

There were 5 Belle Meade Homes sold in November. For a list of all properties sold in past months 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 2 waterfront homes sold in Belle Meade in November averaging $1,503 per square foot. Averages of previous months:

  • October’s average -$823
  • September’s average – no sales
  • August’s average – no sales
  • 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)

There were 3 dry-lot Belle Meade homes  sold in November averaging $645/SF, average sold price per square foot in past months as follows:

  • October’s average – 594
  • September’s average – no sales
  • August’s average: $589
  • 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 3 Sales in Belle Meade in November (by square footage)

  • 1950’s  canal-front home in Belle Meade Island with 4 bedrooms / 3 bathrooms, 2,257 SF on 21,945 SF lot with 133′ of water frontage. This home was listed for $3.75 Million in May, MLS shows a contract that fell through and was relisted for $3.65 Million – It sold for $3,558,750 ($1,577/SF) *cash transaction
  • Canal front home in Belle Meade Island with 4 bedrooms / 3 bathrooms, 1,996 SF on 12,375 SF lot with 75′ of water frontage. It was listed for $2.85 Million in August and sold for full price ($1,428/SF) *cash transaction
  • Beautiful 30’s home on a dry lot at 641 NE 92 St with 3 bedrooms / 2 bathrooms, 1,010 SF on 8,850 SF lot. This home sold for $620,000 in October of 2020, was relisted for $1,075,000 the same day and sold for $1 Million ($990/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.

Belle Meade by Miamism Dec 2021
Belle Meade by Miamism Dec 2021

Some key points you should know:

  • Seller’s market with only 3 months of inventory.
  • Average Sales Price is $1.8 Million
  • Average Discount is 6%
  • Sweet spot in sales: homes between $1-1.5 M and above $2 Million
  • 34.5% of all deals are CASH
  • 72.2% of buyers are primary residents

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