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Belle Meade Real Estate - monthly market report - August 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Belle Meade Real Estate Market Doing?

There are currently 10 homes for sale in Belle Meade (compared to 8 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 $899,000 for the 3/2 at 674 NE 75th St ($659/SF)
  • Pending Sales (Properties under contract): 7
  • Median Sales Price in August: $990,000
  • Closed sales in August: 3 (same as July)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Belle Meade last month?

For a list of all properties sold in August 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

There were no waterfront homes sold in Belle Meade in August Averages of previous months:

  • 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)

The average sold price per square foot in Belle Meade for homes not on the water in August was $589 compared to:

  • 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

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

Top (and only) 3 Sales in Belle Meade in August (by square footage)

  • 769 NE 76 St - 2 bedrooms / 2 bathrooms with 1,837 SF on 6,250 SF lot.  This property was purchased for $601,400 in November of 2020 and resold for $1.1 Million ($599/SF) **cash transaction
  • 7331 NE 7th Ave - 3 bedrooms / 2 bathrooms with 1,661 SF on 5,900 Lot. Listed for $999,999 in June and sold for $990,000 ($596/SF)
  • 782 NE 77th St - 2 bedrooms / 2 bathrooms with 1,225 SF on 6,250 SF lot. Listed for $699,000 in March and sold for $699,000 ($571/SF **cash transaction

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-$900k and homes above $2 Million.
  • 28% of all deals are CASH
  • 72% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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