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Fisher Island Real Estate Market Report for November 2013

December 18, 2013

Fisher Island Real Estate Market Report

Fisher Island Condo for Sale - 5341 Fisher Island Dr
**Fisher Island Condo For Sale – see below for property sale information**

There are currently  54  Fisher Island Condos for sale: (same as last month)

  • Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms)
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 5 (2 less than last month)
  • Closed sales in November: 2 (compared to 0 last month)

The 2 Fisher Island condos that sold in November were the following:

  • Oceanside at Fisher Island – 7600 Fisher Island Dr – Custom designed floor plan – contemporary 5 bedrooms / 5.5 bathroom with nanny/in-laws quarters – listed for $6.2 Million and selling for $5.4 Million
  • Marina Village Gardens No. 2 – 40304 Fisher Island Dr – foreclosure top floor 2 studio units combined with 1 bedroom and 2 bathrooms.  Listed for $304,900 and selling for $300,000.

Fisher Island Equity membership is $250,000 with annual membership dues.  There are also Yacht slips available for purchase up to 170 feet (17 meters).  Fisher Island remains unparalleled when it comes to security, privacy and exclusivity and this is what makes Fisher Island Living so prestigious.

Contact us at FisherIsland@miamism.com

**5341 Fisher Island Dr – Bayview Fisher Island Condo – corner residence on 4th floor with views of Biscayne Bay and Downtown Miami Skyline.  4 bedrooms / 4.5 bathrooms with wrap-around terraces and marble floors, 4,010 sq.ft. of living space (400 sq.meters).

Listing price is $3,700,000.00

Fisher Island Real Estate Market Report for October 2013

November 15, 2013

Fisher Island Real Estate Market Report

7245 Fisher Island Dr - by Miamism.com
**Fisher Island Condo For Sale – see below for property sale information**

There are currently  54  Fisher Island Condos for sale: (2 less than last month)

  • Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms)
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 7 (3 more than last month)
  • Closed sales in October: 0 (compared to 1 last month)

Fisher Island condo inventory is staying steady.  We’re talking the Realtor cliché of low inventory and high demand that drive prices up.  Arguably, Fisher Island is different and its audience is exclusive and elite and don’t always follow market trends.  But desirability continues to be this private island’s forte.

Contact us at FisherIsland@miamism.com

**7245 Fisher Island Dr – Oceanside Fisher Island corner residence at Villa Del Mare with wrap-around terraces that feature panoramic direct ocean views.  3 bedroom, 3.5 bathroom unit with 3,140 square feet of living space and includes equity membership. Listing price is $11,000,000.

Fisher Island Real Estate Market Report for September 2013

October 9, 2013

Fisher Island Real Estate Market Report

7764 Fisher Island Dr - Fisher Island Condo for Sale
**Fisher Island Condo For Sale – see below for property sale information**

There are currently  56  Fisher Island Condos for sale: (same as last month)

  • Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms)
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 4 (1 more than last month)
  • Closed sales in September: 1 (2 less than last month)

The Fisher Island property sold in September of 2013 was 6921 Valencia Dr at Lindisfarne on Fisher Island.  We’re talking a very rare residence with 5,468 sq ft of living space, built in 2002 with 4 bedrooms / 4 bathrooms.  Listed for $4.5 Million and selling for $4,050,000.

I keep telling you that Fisher Island is a different type of real estate but the only way to know that is by KNOWING Fisher Island.  Its exclusivity is world renown and people go out of their way to want to become a part of The Fisher Island Community.

Contact us at FisherIsland@miamism.com

**7764 Fisher Island Dr – Oceanside Fisher Island sought-after center stack residence with 6,820 square feet of living space, 4 bedrooms/ 4 bathrooms and in mint condition.  Overlooks ocean and ready to move in.  Listed at $11,500,000.

Fisher Island Real Estate Market Report for August 2013

September 11, 2013

Fisher Island Real Estate Market Report

15911 Fisher Island Dr - Fisher Island Cond For Sale
**Fisher Island Condo For Sale – see below for property sale information**

There are currently  56  Fisher Island Condos for sale: (2 less than last month)

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

Fisher Island Condos sold in August of 2013 were the following:

  • Oceanside at Fisher Island Condo – 7964 Fisher Island Dr – listed at $9,499,000 and selling for $8.2 Million.  This incredible ocean front penthouse with unobstructed private views of the ocean was originally listed for $11.5 Million on November of 2008, reduced to $10.5 Million in 09, then increased and decreased a few more times and finally sold on August 1st.
  • Oceanside at Fisher Island Condo – 7741 Fisher Island Dr – listed for $3,650,000 and selling for $3.2 Million.  Renovated with wrap-around terrace residence was listed for $3.25 Million in August on 2011, then increased to $3.89 Million in March of 2012…then decreased several times and finally selling on 8/27/13.
  • Bayview Fisher Island number 2 – 5332 Fisher Island Dr – listed for $3,199,000 and selling for $3.8 Million.  Listing history starts with original price of $6.2 Million back in 2006 with several reductions and closing on 8/23/13.

Please note that listing prices are all over the place on Fisher Island but comps don’t lie and when you do your homework and compare apples to apples, sale prices do make sense.  When looking to buy in Fisher Island, compare units with similar views in similar location within the island.  Residences that face the port of Miami will be completely different, as is to be expected, than those that face due east with direct ocean views.

We find most of the lower priced Fisher Island Condos to be in need of updates, so please keep that in mind as well and avoid the shock factor.

Contact us at FisherIsland@miamism.com

**15911 Fisher Island Dr – Ground Floor Seaside Villas Condo listed for $1,850,000. 1 bedroom/ 1 bathroom – 1,122 sq ft of living space.  1-car garage.  Built in 1988 with updated kitchen and white marble floors.

Fisher Island Real Estate Market Report for July 2013

August 16, 2013

Fisher Island Real Estate Market Report

7436 Fisher Island Dr For Sale
**see below for property sale information**

There are currently  58  Fisher Island Condos for sale: (2 less than last month)

  • Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms)
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 4 (1 less than last month)
  • Closed sales in July: 2 (4 less than last month)

The Fisher Island Condos sold in July were the following:

  • 5282 Fisher Island Dr – located in Bayview Fisher Island – listed for $5,450,000 and selling at $4,850,000. The property had been originally listed for $6.7 Million in January of 2008, taken off the market a year later, was re-listed for $5.45 Million in March of this year and going under contract just 10 days after listing.
  • 2322 Fisher Island Dr – located in Bayside Village – listed for $1,150,000 and selling for $1,075,000.  This condo faced SE with bay and ocean views and was originally listed in 2008 for $1.95 Million, reduced to $1.75 Million in February of 2009, re-listed at $1.15 several times since September of 2011 and finally going under contract in April of 2013.

We are seeing properties that never sold in Fisher Island in 2008-2009, being listed at more reasonable prices and finally selling.  We are also seeing Fisher Island Realtors not taking as many overpriced listings and asking sellers to be more realistic about their expectations.  Keep in mind that any east facing fisher island condos will be the most expensive in the island.

Contact us at FisherIsland@miamism.com

**7436 Fisher Island Dr – Oceanside Condo listed for $5,600,000.  3 bedrooms/ 4 bathrooms – 4,000 sq ft of living space.  2-car garage.  Built in 2002 with marble floors – direct ocean views!

Fisher Island Real Estate Market Report for June 2013

July 10, 2013

Fisher Island Real Estate Market Report

7213 Fisher Island Dr by miamism.com

There are currently  60  Fisher Island Condos for sale: (1 less 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: 5 (1 less than last month)
  • Closed sales in June: 6 (3 less than last month)

The Fisher Island Condos sold in June were the following:

  • 5251 Fisher Island Dr – Bayview Fisher Island Condos – listed at $3,850,000 and selling for $3,400,000
  • 7600 Fisher Island Dr – Oceanside at Fisher Island – listed at $3,650,000 and selling for $3,250,000
  • 4824 Fisher Island Dr – Bayview at Fisher Island Condos – listed at $2,550,000 and selling for $2,150,000
  • 2143 Fisher Island Dr – Bayside Village – listed at $1,595,000 and selling for $1,350,000
  • 15722 Fisher Island Dr – Seaside Villas – listed at $699,000 and selling for $480,000
  • 42208 Fisher Island Dr – Marina Village – listed at $599,000 and selling for $400,000

The median sales price in June in Fisher Island was $2.07 Million compared to the median list price of $3.2 Million.  The distressed inventory in Fisher Island, like the rest of Miami and Miami Beach, is almost non-existent.  Out of the 60 Fisher Island Condos for sale, one 1 is a foreclosure and there are no short sales.  That one foreclosure in Fisher Island is located at Marina Village and it’s a 1 bedroom / 2 bathroom residence, listed for $369,500.

Fisher Island Real Estate Market Report for May 2013

June 26, 2013

Fisher Island Real Estate Market Report

7213 Fisher Island Dr by miamism.com

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.

Fisher Island Condos – Real Estate Market Report for April 2013

May 15, 2013

7213 Fisher Island Dr by miamism.com

There are currently  55  Fisher Island Condos for sale: (12 less than last month)

  • Highest priced listing: $14,995,000 for an exclusive Oceanside (4 bedrooms / 5.5 bathrooms)
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 19 (5 more than last month)
  • Closed sales in April: 6 (2 more than last month)

The Fisher Island Condos sold in April were the following:

  • 5344 Fisher Island Dr – Bayview at Fisher Island II- Listed for $3.9 Million and selling for $3.75 Million
  • 5331 Fisher Island Dr – Bayview at Fisher Island II – listed for $3.9 Million and selling for $3.4 Million
  • 7912 Fisher Island Dr – Oceanside at Fisher  Island – listed for $3.8 Million and selling for $3.3 Million
  • 2443 Fisher Island Dr – Bayside Village – listed for $2.85 Million and selling for $2.25 Million
  • 7922 Fisher Island Dr – Oceanside at Fisher Island – listed for $2.295 Million and selling for $2.195 Million
  • 15714 Fisher Island Dr – Seaside Villas – Foreclosure listed for $425,000 and selling for $435,000

The median sales price in April in Fisher Island was $2.775 Million compared to the median list price of $3.025 Million.  We are getting calls asking for a reason in price discrepancy in the Island giving an impression that prices are all over the place.  That is NOT the case – prices are based on building, location within the island, condition of residence and most importantly, VIEWS!!  Please keep in mind that all units priced under $1 Million will have interior views (garden and street views).  We will be more than glad to explain the differences and help you make a decision on what will work best for you.

Fisher Island Condos – Real Estate Market Report for March 2013

April 6, 2013

Fisher Island Real Estate Market Report

7612 Fisher Island Dr for sale for $15 millionThere are currently  67  Fisher Island Condos for sale: (5 less than last month)

  • Highest priced listing: $15,000,000 for an exclusive Oceanside 7/7/1
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 14 (4 more than last month)
  • Closed sales in March: 4 (3 more than last month)

The Fisher Island Condos sold in March were the following:

  • 5383 Fisher Island Dr – Bayview at Fisher Island Condo listed for $6.4 Million and selling for $6.4 Million
  • 5123  Fisher Island Dr – Bayview foreclosure listed for $1,996,900  and selling for $2,255,000.
  • 7735 Fisher Island Dr – Oceanside  short sale listed for $1,950,000 and selling for $1,593,000
  • 2415 Fisher Island Dr – Bayside Village condo listed for $1,200,000 and selling for $1,100,000

Inventory continues to decrease for Fisher Island Condos and we are seeing more sales.  The median listing price in Fisher Island right now is $2.95 Million and  there is only 1 distressed property for sale which is the short sale at 40303 Fisher Island Dr for $330,000 (Marina Village Gardens).  Fisher Island continues to be the epitome of luxury living with unparalleled privacy and exclusivity.

Click here to search for Fisher Island homes for sale

**all information obtained from the Southeast Florida Multiple Listing Service**

Fisher Island Condos – Real Estate Market Report for February 2013

March 8, 2013

fisher island by linksmanjd

 

There are currently 72 Fisher Island Condos for sale: (9 less than last month)

  • Highest priced listing: $15,000,000 for an exclusive Oceanside 7/7/1
  • Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
  • Pending Sales: 10 (3 more than last month)
  • Closed sales in February: 1 (same as last month)

The Fisher Island Condo sold in February was a 2 bedroom / 2.5 bathroom residence at Bayside Village that was listed for $1,195,000 and sold for $935,000. It was a garden unit at 2112  Fisher Island Dr. and included  Club Membership which is $250,000!

Out of the 72 Fisher Island condos for sale, only 3 are distressed, so that inventory is almost done.  The median listing price at Fisher Island is $2,750,000 – so much for an area that according to a lot of the media, is not doing well.  Fisher Island’s exclusivity is still ranked amongst the best in the U.S. and some consider it priceless.

Click here to search for Fisher Island homes for sale

**all information obtained from the Southeast Florida Multiple Listing Service**

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