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

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.

Belle Meade Oct Real Estate Market Benchmark
Belle Meade Oct Real Estate Market Benchmark

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

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