It’s been a troubling year for Florida’s homeowners. Many have seen their property values plummet–and there is no bottom in sight.
Prices dropped by 20% in Miami, 18% in Tampa and 17% in Orlando over the past year, according to the National Association of Realtors, and the Sunshine State ranks at the top of the national foreclosure heap, along with Michigan and California. The troubling news on the horizon: a new round of Option ARM loans next year will reset.
But for residents of Fisher Island, Fla.,–a small community (pop. 475) of ritzy condos and sprawling homes and famous for its Vanderbilt mansion as well as its golf, tennis and yachting clubs–it’s been a pretty good year. Prices on the island, which sits in the Miami Beach archipelago, rose by $525,000 over the last year, making 33109 the most expensive ZIP code in America with a median home sale of $3.85 million.
Celebrities love Fisher Island’s privacy and the fact that you can only reach the island by water or air since there are no bridges connecting Miami Beach to Fisher Island. Oprah is selling her condo and it’s not unusual to catch a big shot driving around the island in a golf cart (the preferred method of transportation in Fisher Island….I may have even seen a Bentley Golf cart there once).
Runner ups were:
- Number 2: Alpine, NJ – 07620 – Bergen County – with Median Sales price of $3.59 million
- Number 3: Mill Neck, NY – 11765 – Nassau County – with Median sales price of $3 million
- Number 4: Newport Coast, CA – 92657 – Orange Conty – with Median sales price of $2.8 million
- Number 5: Water Mill, NY – 11976, Suffolk County – with Median sales price of $2.72 million
Here is this month’s market report showing Fisher Island’s Real Estate sales for the year:
There are currently 144 listings in Fisher Island: (same as last month)
- Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
- Lowest priced listing: $335,000 for a 1/1 at Marina Village
- Pending Sales: 1 (same as last month)
- Closed sales in 2008: 19 (0 in the month of September)
Fisher Island is Fisher Island…no explanation needed when it comes to Miami Beach Luxury Real Estate – but if you want to get an idea of Fisher Island’s Real Estate, read Miami Luxury Real Estate. Here’s the breakdown of sales at Fisher Island:
- Villa del Mare – 1 sale and highest this year in Fisher Island $12,360,000
- Seaside Villas – 4 sales
- Pallazzo de Mare – 5 sales
- Oceanside – 2 sales
- Marina Village – 3 sales
- Bayview – 3 sales
- Bayside Village – 1 sale