Fisher Island Housing Market Report for May 2013

Fisher Island Real Estate Market Report

There are currently  61  Fisher Island Condos for sale: (6 more than last month)

• Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms – pictured above)
• Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
• Pending Sales: 6 (13 less than last month)
• Closed sales in May: 9 (3 more than last month)

The Fisher Island Condos sold in May were the following:

• 5171 Fisher Island Dr – Bayview at Fisher Island – listed for $12.9 Million and selling at $9.85 Million
• 7813 Fisher Island Dr – Oceanside Fisher Island – listed for $7.375 Million and selling at $6.5 Million
• 5274 Fisher Island Dr – Bayview Fisher Island – listed for $3.4 Million and selling at $3.3 Million
• 8041 Fisher Island Dr – Oceanside at Fisher Island – listed for $2.95 Million and selling for $2.65 Million
• 4814 Fisher Island Dr – Bayview at Fisher Island – listed for $2.9 Million and selling for $2.6 Million
• 19141 Fisher Island Dr – Seaside Village – listed for $2.75 Million and selling for $2.15 Million
• 19116 Fisher Island Dr – Seaside Village – listed for $1.685 Million and selling for $1.525 Million
• 2423 Fisher Island Dr – Bayside Village – listed for $1.6 Million and selling for $1.4 Million
• 2433 Fisher Island Dr –  Bayside Village – short sale listed for $1.15 Million and selling for $1.15 Million

The median sales price in May in Fisher Island was $2.6 Million compared to the median list price of $2.9 Million.  Mega luxury condos are moving in Fisher Island evidenced by the highest sale of $9.85 Million.  This condo was originally listed for $15.9 Million back in January of 2011, cancelled and then relisted in January of 2013.  The second highest sale of $6.5 Million had been listed in 2009 for $8.9 Million and taken on and off the market several times.  This shows that sellers that may have overpriced their properties, did not give them away when the market was slow and are starting to sell now – maybe at more reasonable prices, but definitely never giving them away.

Contact us at FisherIsland@miamism.com