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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.

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

DOWNLOAD MIAMISM 3D MARKET ANALYZER REPORT


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