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Belle Meade Real Estate Market Report - July 2018

Ines Hegedus-Garcia
ines@miamism.com

How is The Belle Meade Real Estate Market Doing?

There are currently 24 single-family homes for sale (same as 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): 2
  • Median Sales Price in July: $2,152,000
  • Closed sales in July: 2

The Belle Meade homes sold in July were the following:

  • 1000 NE 72 Ter - dry lot home (not waterfront) with 3 bedrooms / 3.5 bathrooms, 3,146 SF of living space on a 21,700 SF lot.  Designed by Robert Fitch Smith and built in 1949. The home was originally listed for $1,295,000 in December of 2017, had 2 price reductions and sold for $949,000 ($302/SF) **cash transaction
  • 765 NE 77 St - brand new construction with 55' of water frontage, 40' dock, modern design by Sebastian Olarte with over 5,000 SF of living space and 12,295 SF lot. It was listed for $3.4 Million in June and sold for $3,355,000 ($664/SF) **cash transaction

This is our second Belle Meade market report, so bear with us as the data gets more robust. 

  • The average price per square foot for non-waterfront homes for the first 6 months of 2016 was $353.  The average price per square foot for non-waterfront homes in July was $302 (only one sale).
  • The average price per square foot for waterfront homes for the first 6 months of 2016 was $723.  The average price per square foot for waterfront homes in July was $664 (also, only one sale).

Belle Meade continues to be one of the most sought out neighborhoods in Miami's Upper East side because of gates, location, architecture and ease of access.  Prices vary according to location with relation to bay and gate, size of lot, square footage and obviously, condition of property.

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 1960's courtyard home at 7308 Belle Meade Island Dr.  We are talking expansive home with 4,321 SF of living space, 16,131 SF lot and 100' of protected water frontage.  I've always loved this home because of it's tropical "u-shaped" design where every bedroom faces pool area.  It sits on double gated Belle Meade Island with no bridges to bay and has metal roof and big spaces with great finishes.

The listing price is $3.5 Million

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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