Ever wonder what's on the other side of that Fisher Island Ferry?

Often a 2nd or 3rd residence destination for many, we are seeing an increase in the number of full time or primary residents on Fisher Island, Florida.  One attraction of many is the Fisher Island Day School, known for small class sizes.  After a year(+) downturn in the South Florida real estate market, sales at Fisher Island are on the rise as properties have become more reachable to local buyers.

Some Interesting Market Stats for Fisher Island Condos:

• 32 Sold in 2009, averaging $685 per S.F.  Higher sales in newer Oceanside units sold with just a few over $1,000 per S.F.  Lower sales in $400 per S.F. range sold including a foreclosure sale and units in need of renovation.

• 24 Sold in 2008, average much higher with most sales going over $1,000 per S.F. and topping $1,400 per S.F.  A few lower sales took place around $800 per S.F., mostly 1 bedroom units.

• 30 Sold in 2007. With a few exceptions, most price per S.F. averages above $1,000 with high sales over $2,000 per S.F.

2010 is off to a good start with several great opportunities already under contract.  Two Oceanside units already closed for around $650 per S.F.  Several other units I know of are under contract between $399 to $600 per S.F.   This is about 50% less than what they were selling for a few years back, and pending contracts are up. We expect more sales of this nature, great to get into now for future appreciation.

Call me for more information about Fisher Island properties!