FISHER ISLAND MIDYEAR HIGHLIGHTS

Fisher Island Average Sales Price

FISHER ISLAND JAN-JUNE PERIOD

Fisher Island’s average sales price and sales price per square foot have risen, even surpassing previous records. Additionally, properties on the market are being sold at a faster pace.

(Note) The majority of Fisher Island properties fall into the luxury and ultra-luxury price range, making it a singular category for comparisons.

Fisher Island has long been recognized as one of the richest areas in the United States, and property prices continue to reach new heights as more luxurious homes are constructed and affluent buyers flocked to the island, particularly during the pandemic. They are now 120% than what they were in 2019.

Fisher

Average Sales Price

In 2023, all months except for April and May saw better performance compared to 2022. Despite already having high-priced items, Fisher Island experienced a 7.5% increase in performance compared to the previous year.

SINGLE-FAMILY HOMES

- The average sales price of a singlefamily home is $5 million, up 40% fromm 2019

- The data shows that the overall single-family home market and the market for homes valued at $1 million or more have same stats

-The average sales price for all homes is up 40% from 2019

- Average sales price for condos have increased 59% from 2019

-# of closed sales are starting to normalize following elevated levels of the past two years

Price

JAN-JUNE PERIOD

The average sales price for homes in Key Biscayne has edged 2022 sales price by 3% to $5,066,813. Average sales price per square foot was at $1,381. Pace of maket picked up with days on the market declining by 10%.

(Note) The sold statistics for both the general single-family home market and the market for homes priced at $1 million or more in 2023 are identical, so we only need to consider one set of data.

The entry barrier into Key Biscayne is high. The average sales price for single-family homes has consistently increrased year over year with a 40% surge since 2019.