2007 Miami-Dade County Real Estate Market Conditions Summary – Fisher Island

Fisher Island Real Estate Market Condition Summary for 2007

38.39% drop in home sales – 38.67 % in condo sales

Fisher Island, the wealthiest zip code in the US once again defies the real estate market trends in Miami.

Although Fisher Island sales did drop 8% from the previous year, the market conditions have only improved.

The average price of a Fisher Island Luxury Property in 2006 was $2,686,826 and that number goes to $4,400,417 in 2007.

The average price per square foot of a Fisher Island Luxury Property in 2006 was $1,081.39 and it went up to $1,266.56 in 2007.

But as pretty as this picture may seem, there are 92 active Fisher Island Properties for sale now, giving the private island 44 months of inventory.

Some may claim that 2007’s great numbers are due to Palazzo Del Mare obtaining their Certificate of Occupancy.  Whatever the reason, Fisher Island’s number look much better than the rest of the county.