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Belle Meade Real Estate Market Report - August 2018

Ines Hegedus-Garcia
ines@miamism.com

How is The Belle Meade Real Estate Market Doing?

There are currently 26 single-family homes for sale (compared to 24 last month)

  • Highest priced listing is $8,450,000 for the modern, open bay, new construction at 7311 Belle Meade Island Drive with 75' of open bay frontage
  • Lowest priced listing is $555,000 for the charming cottage at 736 NE 74 St with 3 bedrooms / 2 bathrooms and built in 1937
  • Pending Sales (Properties under contract): 0
  • Median Sales Price in August: $565,000
  • Closed sales in August: 1

The Belle Meade home sold in August was located at 7280 NE 8th Avenue.  A corner home with 3 bedrooms/ 2 bathrooms, 1,791 SF on 7,629 SF lot. Built in 1939, in great condition, originally listed for $732,000 in June of 2017, with several price reductions and finally selling for $565,000 ($315/SF)

Price per square foot for Homes not on the water:

  • August average $315 (only one sale)
  • July average $302 (only one sale) 
  • The average price per square foot for non-waterfront homes for the first 6 months of 2016 was $353.  

Price per square foot for Homes on the water:

  • August average **no waterfront sales
  • July average $664 (only one sale)
  • The average price per square foot for waterfront homes for the first 6 months of 2016 was $723. 

When you have a sought out neighborhood like Belle Meade, with little inventory and few sales, these market reports tend to be a bit boring.  Keep in mind that it's important to look at 6 months or more worth of stats to know where you are standing whether buying or selling.  It's the reason we produce these on a monthly basis.

If you measure the current rate of sales versus the amount of inventory, you will note that The Belle Meade real estate market has a slight Buyer's Advantage.

Please contact us if you are thinking of selling your home in Belle Meade. In addition to these monthly reports that we prepare the last week of each month, we also have our REAL-TIME reports for the 33138 zip code that you can sign up with or request a home value report from MiamismValue.com.

Belle Meade House of The Month

The Miamism Sales Team recommends the gorgeous home at 774 NE 74 St. Immaculate property with 3 bedrooms / 2 bathrooms, 1,427 SF of living space on an average 5,900 SF lot. Tastefully renovated home with all the charm you expect from a 1939 Belle Meade home.

The listing price is $725,000 ($508/SF)

Please click HERE to get additional photos and information about the property and contact us to schedule a private showing appointment.


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