Currently, there is 15 and half months worth of inventory in Belle Meade. Some of them are new listings and others have been active for a while.
Average days on the market in Belle Meade before homes are selling is 79 days. Considering a majority of the homes in Belle Meade are in the million dollar plus range, the buyer pool for these properties is going to be smaller than other neighborhoods thus the abundance of homes and the time it is taking to sell these properties. With a strong fall market approaching, I expect to see prices drop on these homes that have been active for a while, continuing the trend of a strong buyers market.
ZIP Code: 37205
Location Characteristics: Belle Meade is one of Nashville's oldest and most charming neighborhoods. Consisting of both updated exisitng homes and new construction homes, the charm and characteristics of this "city within a city" makes Belle Meade the most exclusive neighborhood in Nashville. It's central location makes it easy to enjoy local shopping as well as local and down town activity.
Belle Meade is located just south and west of the heart of Nashville, and gets its name from the Greek Revival Ante-bellum plantation mansion erected in 1853 on the 5,400 acre thoroughbred horse nursery owned by the family of John Harding. Today, the evidence of skirmishes between Union and Rebel soldiers during the Civil War are still visible in the mansion's massive limestone columns quarried from the property. Belle Meade is listed in the National Register of Historic Places, and is featured on the Ante-bellum Trail of Homes.Belle Meade community is only 3.1 square miles, and is home to slightly more than 3,000 residents whose median age is 43.2. Median household income is substantially above that of the state average at $144,720.
Thursday, October 19, 2006
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