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Belle Meade Real Estate - monthly market report - April 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Belle Meade Real Estate Market Doing?

There are currently 9 homes for sale in Belle Meade (compared to 6 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): 8
  • Median Sales Price in April: $923,000
  • Closed sales in April: 6 (compared to 7 in March)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Belle Meade last month?

For a list of all properties sold in April please email us at BelleMeade@miamism.com

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

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 April was $675, compared to previous months:

Belle Meade Non-Waterfront Sales (Dry Lots)

The average sold price per square foot in Belle Meade for homes not on the water in April was $501, compared to:

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top 3 Sales in Belle Meade in April (by square footage)

  • 1155 Belle Meade Island Dr - Wide Bay home with 120' of open bay frontage!! This home was originally listed for $2,990,000 in November of 2017.  MLS shows a few contracts that fell through and finally sold for $2,450,000 ($721/SF) <<can't wait to see what is built on this beautiful lot. **cash transaction
  • 760 NE 77th St - beautiful and quaint home built in 1937, tastefully updated, with 3 bedrooms / 2 bathrooms, 1,583 SF on 6,250 SF lot (non-waterfront). Listed for $1.1 Million in January and selling for asking price ($663/SF)
  • 1100 Belle Meade Island Dr - remodeled home on Belle Meade Island with 5 bedrooms / 5.5 bathrooms, 4,168 SF on 11,390 SF lot with 58' of water frontage. Listed for $2,950,000 in October of 2020 and selling for $2,850,000 ($629/SF)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

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-700k and homes above $2 Million.
  • 28.6% of all deals are CASH
  • 70% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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