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Belle Meade Real Estate Market Report - January 2019

Ines Hegedus-Garcia
ines@miamism.com

How is The Belle Meade Real Estate Market Doing?

There are currently 24 single-family homes for sale

  • Highest priced listing is $8,450,000 $7,950,000 for the modern, open bay, new construction at 7311 Belle Meade Island Drive with 75' of open bay frontage
  • Lowest priced listing is $519,000 - 3/2 at 736 NE 74 St
  • Pending Sales (Properties under contract): 8
  • Median Sales Price in January: $599,000 (one sale)
  • Closed sales in January: 1 

The Belle Meade home sold in January was for the home at 775 NE 74th St and we represented the buyer.  Gorgeous 30's home with open-beamed ceilings, 3 bedrooms / 2.5 bathrooms, 1-car garage and big lot with 8,850 SF.  The home was listed for $599,000 and sold at full-price with $16,000 in seller concessions. ($294/SF)

Average price per square foot for homes not on the water in January was $294 with one single sale, compared to last year's average:

Price per square foot for Homes on the water with no waterfront homes sold in January:

The general real estate market was affected by a rise in mortgage rates but we should be seeing a change in the next few months.  Belle Meade remains a conservative market where movement is limited not only because it remains a hidden enclave, but the clear pride of ownership keeps prices high compared to neighboring communities.

 

Real-time market stats for 33138 suggest a slight Buyer's Advantage,

Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.

We also offer home value reports at MiamismValue.com or contact us for a no-obligation consultation.

Belle Meade House of The Month

The Miamism Sales Team recommends the 1958 waterfront home at 1055 Belle Meade Island Drive.  This Belle Meade Island home was listed for $2.347 M in May of 2018 and has been reduced to $2,227,000.  It offers 3 bedrooms / 3.5 bathrooms, 2,559 SF of living space, 12,375 SF lot with 90' water frontage, 2-car garage, private dock and boat lift and is only a few homes from the open bay with no fixed bridges.

It's beautifully and tastefully remodeled and offered at $2.227 Million ($870/SF)

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


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