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Belle Meade Real Estate Market Report - November 2020

Ines Hegedus-Garcia
ines@miamism.com

How is The Belle Meade Real Estate Market Doing?

There are currently 13 single-family homes for sale: (compared to 16 in October)

  • Highest priced listing is $3,595,000 for the 4/4.5 new, waterfront construction at 885 NE 76 St (840/SF)
  • Lowest priced listing is $540,000 for the 2/2 at 770 NE 77th St.
  • Pending Sales (Properties under contract): 7
  • Median Sales Price in November: $615,000
  • Closed sales in November: 4 (same as in October)

DOWNLOAD BELLE MEADE MARKET REPORT HERE

Belle Meade Homes Sold in November

There were 4 single-family homes sold in Belle Meade in November:

  • 770 NE 76th St - 3 bedrooms / 2 bathrooms, 1,398 SF on 6,250 SF lot. Originally listed for $685,000 in October of 2019, showing a contract that fell through in the MLS, and closing for $624,000 ($413/SF)
  • 769 NE 76 St - 3 bedrooms / 3 bathrooms, 1,987 SF on 6,250 SF lot. Originally listed for $675,000 in May of 2018, canceled and relisted for $669,000 in September of 2019 - MLS shows a contract that fell through and closed for $601,400 ($327/SF)
  • 670 NE 77th St - 2 bedrooms / 2 bathrooms, 1,814 SF on 9,375 SF lot. Originally listed for $745,000 in June of 2019, canceled and relisted for $699,000, lowered a few times and closing for $615,000 ($413/SF)
  • 860 NE 75 St - 2 bedrooms / 2 bathrooms, 1,518 SF on 7,080 SF lot. Listed for $619,000 in August and selling for $605,000 ($443/SF)

DOWNLOAD BELLE MEADE MARKET REPORT HERE

Belle Meade Average Price per Square Foot

The average price per square foot for  dry lot homes (non-waterfront) homes sold in Belle Meade in November was $399, with past averages are as follows:

  • October's average $435
  • September's average $432
  • August's average $372
  • July's average $387 (one sale)
  • June's average - no sales
  • May's average - no sales
  • April's average $388
  • March's average $422
  • February's average $280
  • January's average $418
  • 2019's average (not on the water) $382

There were no waterfront homes sold in Belle Meade in November. Past averages are as follows:

  • October's average $1,239 (one sale)
  • September's average $843
  • August's average - no waterfront sales
  • July's average - no waterfront sales
  • June's average - no waterfront sales
  • May's average $631 (one sale)
  • April's average - no waterfront sales
  • March's average - no waterfront sales
  • February's average - no waterfront sales
  • January's average - no waterfront sales
  • 2019's average (waterfront) $588

DOWNLOAD BELLE MEADE MARKET REPORT HERE

Belle Meade's Real Estate Stats and Opinion

We are seeing very little change in Belle Meade's real estate market from last month.  Months of inventory dropped to 8 months from 9, still a buyer's market. The average price per square foot also increased a bit to $462.

It's interesting to note that 3 bedroom homes ($465) sell for much higher per square foot than 2 bedroom homes ($371/SF).  So please keep this in mind if you are buying or selling. Also, 26% of sales in the last 12 months have been cash (low number for Miami in general), and buyers came from the U.S. and Colombia.  As for primary residents, they made up 75% of all sales, making Belle Meade an area of permanent residents, not transient.

Although we post these market reports on a monthly bases, our 3D market stats are based on 12 month periods, For a free copy of this report, click HERE.

We provide micro-data for markets around South Florida.  Real Estate is hyper-local and it's crucial to analyze data at a micro level to identify not only the right time to buy or sell, but who is buying and what factors will maximize your goals.  We also look into demographic information to help identify audiences buying in the area.

We are happy to meet for a no-obligation home valuation consultation, which includes home preparation recommendations as well as marketing strategies.  Call me at 306-206-9366 (direct cell) or email me at ines@miamism.com

Featured Belle Meade Home For Sale

This month's featured Belle Meade home is a gorgeous 1935 home right outside the gates with separate loft space perfect for AirBNB/vacation rental income, private office or in-law quarters.  It's located at 7534 NE 6th Ct and main home has 2 bedrooms / 2 bathrooms with renovated kitchen and bathrooms and beautiful open-beamed ceilings.

Asking price $659,500 ($350/SF)

For additional information, please contact us.


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