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Belle Meade Real Estate - monthly market report - May 2021

Ines Hegedus-Garcia
ines@miamism.com

How is the Belle Meade Real Estate Market Doing?

There are currently 11 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 $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): 5
  • Median Sales Price in May: $1,500,000
  • Closed sales in May: 3 (compared to 6 in April)

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT

What sold in Belle Meade last month?

For a list of all properties sold in May 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 May was $853 (only one sale), compared to previous months:

  • 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 May was $457, compared to:

  • 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 May (by square footage)

  • 905 Belle Meade Island Dr - 4 bedroom/3 bathroom waterfront home with 3,177 SF on 16,500 SF lot with 100' of water frontage. Home was listed in February for $2,799,999, increased to $2,800,000 2 days later and sold for $2,650,000 ($853/SF) **cash transaction
  • 941 NE 73 St - 6 bedrooms / 5 bathrooms, 3,241 SF on 15,930 SF lot (non-waterfront). Listed in March for $1,650,000 an sold for $1.5 Million ($463/SF)
  • 7526 NE 6 Ave - 3 bedrooms / 2 bathrooms, 1,390 SF on 5,400 SF lot (non-waterfront). Listed in April for $615,000 and sold for $625,000 ($450/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-700k and homes above $2 Million.
  • 25.9% of all deals are CASH
  • 70.9% of buyers are primary residents

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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