Belle Meade Real Estate – monthly market report – October 2021
How is the Belle Meade Real Estate Market Doing?
There are currently 8 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 $725,000 for the 2/1 home at 828 NE 76th St.
- Pending Sales (Properties under contract): 8
- Median Sales Price in October: $1,350,000
- Closed sales in October: 5 (compared to none in September)
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What sold in Belle Meade last month?
There were 5 Belle Meade Homes sold in October. 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 October averaging $823 per square foot. Averages of previous months:
- 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 October averaging $594/SF, average sold price per square foot in past months as follows:
- 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 October (by square footage)
- Big mid-century home on the water with 4 bedrooms / 3/5 bathrooms, located at 1025 Belle Meade Island Dr. This 3,699 SF house sits on a 12,300 SF lot with 75′ of water frontage. This home sold for $1.7M in February of 2019, was relisted in August of 2021 for $3.299M and sold for $3.1M ($838/SF) **cash transaction
- Beautiful and charming 30’s home with 3 bedrooms / 2.5 bathrooms located at 7701 NE 8th Ave. This 1,982 SF home has a 7,200 SF lot with 50′ of water frontage. It was listed for $1.550M in March, shows a contract that fell through, was increased to $1.6M and sold for $1.6M ($807/SF) **cash transaction
- Another beautiful and charming 30’s home with 3 bedrooms / 3 bathrooms (not on the water) and located at 721 NE 74th St. This 1,866 SF home sits on a 8,850 SF lot, was listed for $1.485M and sold for $1.3M ($697/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 3 months of inventory.
- Average Sales Price is $1.5 Million
- Average Discount is 6%
- Sweet spot in sales: homes above $2 Million
- 34.3% of all deals are CASH
- 75% of buyers are primary residents