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Belle Meade Real Estate - monthly market report - June 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 11 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): 5
  • Median Sales Price in June: $1,075.000
  • Closed sales in June: 4 (compared to 3 in May)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Belle Meade last month?

For a list of all properties sold in June 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 June was $1,497(only one sale), compared to previous months:

  • 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 June was $568, compared to:

  • 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 June (by square footage)

  • 1065 Belle Meade Island Dr was the highest price per square foot sale in June, 2021.  3 bedrooms / 3 bathrooms, 2,170 SF on 12, 375 SF lot with 75' of canal frontage. Listed for $3.249M in April, under contract in less than a week, and selling at full price ($1,497/SF)
  • 790 NE 77th Ter - Beautifully renovated, mid-century modern with 3 bedrooms / 2 bathrooms, 1,511 SF on 7,605 SF lot. Listed for $1.1 M in May, under contract in less than a week, selling for $1,075,000 ($711/SF) **cash transaction
  • 761 NE 77th St - gorgeous 40's home with 3 bedrooms / 2 bathrooms, 1,568 SF on 7,800 SF lot. Listed for $895,000 in January, increase to $965,000 then lowered to $945,000, MLS shows 2 contracts that fell through and finally selling at $945,000 ($603/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 3 months of inventory.
  • Average Sales Price is $1.4 Million
  • Average Discount is 6%
  • 2 Sweet spots in sales: homes between $600k-$1.5M and homes above $2 Million.
  • 25.5% of all deals are CASH
  • 69.6% of buyers are primary residents
  • Buyers are not just local and from the U.S., they also come from Colombia, France, Germany and Italy.

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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