There were 2 closed sales at Fisher Island for the month of April, which brings the total to 5 closed sales for the first four months of 2008. Average days on market for the 5 sales was 319 days. Last year there were 4 closed sales in April 2007 and 15 sales in the first four months of 2007.
Currently, Fisher Island has 140 residential properties for sale. Based on the first four months of this year, it will take 9 years to sell the remaining inventory. Of course, we expect things to pick up, however, this is one of the worst hit areas in all of South Florida. There are no pending sales right now.
There are approximately 695 homeowners on Fisher Island, which consists of just over 0.35 square miles and is located just across for South Pointe in South Beach, which is separated from it by Government Cut - a channel where all the cruise ships and container ships pass through to exit the Port of Miami. The per capita income is over $236,000. In 2000, Fisher Island had the highest per capita income of any place in the United States.