Is Belle Meade, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Belle Meade has remained a Seller's Market.
Key Takeaway
Belle Meade is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Belle Meade, TN
How much do homes in Belle Meade, TN cost?
Median Sold Price
$3,000,000
$704/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Belle Meade have sold for 25% more than they did a year ago.
Summary: The median home sold price in Belle Meade was $3,000,000 in March 2024, up 25% from last year, and the median price per square foot was $704.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $950K | $1.9M | +105.3% |
| 3 Bedrooms | $1.8M | $1.2M | -31.5% |
| 4 Bedrooms | $2.7M | $3.0M | +11.1% |
| 5+ Bedrooms | $3.2M | $5.5M | +71.9% |
Summary: Belle Meade housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 105.3%, 3 bedroom homes decreased by 31.5%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 71.9%.
Median Sold Price Compared To Nearby Cities
| Belle Meade | $2.4M | $3.0M | +25.0% |
| Nashville | $522.6K | $525.1K | 0.5% |
| Forest Hills | $2.1M | $1.9M | -11.0% |
Housing Supply in Belle Meade, TN
How many homes are available in Belle Meade, TN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Summary: The Belle Meade real estate market had 14 homes for sale in March 2024, a 12.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 2 | -50.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Belle Meade housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 50%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Belle Meade, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Belle Meade in March 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% were sold over asking.
Days on Market for Belle Meade, TN
How long does it take to sell a home in Belle Meade, TN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 3 Days | 64 Days | +1782.4% |
Summary: Homes in Belle Meade had an average of 64 days on market in Mar 2024, up by 1782.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Belle Meade are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Belle Meade; 60% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.