Fisher Island Ranked Worst Overall Coastal Condo Market In South Florida In August

In this issue of the Miami Condo Market Intelligence Report™, we rank the best and worst Overall and Vintage condo markets in the tricounty region of Miami-Dade, Broward and Palm Beach.

Volume 2025, Issue 35 (Subscribe here)

For this week’s Miami Condo Market Intelligence Report™ newsletter, we explore the findings of a pair of new reports that rank the Overall and Vintage condo markets in the tricounty South Florida region of Miami-Dade, Broward and Palm Beach.

The reports - Overall and Vintage markets - evaluate the current climate for condo transactions in 23 markets stretching from Coral Gables in the south to West Palm Beach (Downtown - Island) in the north as of Aug. 26, 2025.

The rankings are based on the Miami Condo Cliff Index™, which was created on Jan. 1, 2025, to track, measure and compare markets using the same criteria for both the Overall and Vintage markets in all geographies.

The Overall market is comprised of all condos within each submarket, and the Vintage market focuses exclusively on units in projects that are at least 30 years old.

Vintage condos are under added scrutiny in the wake of the Surfside condo collapse in June 2021 when nearly 100 people died and a $1 billion settlement was paid out to the families of the victims.

New legislation adopted in the aftermath of the Surfside tragedy requires Florida condos - especially Vintage projects - to undertake inspections by licensed architects or engineers and then fund the fixes identified by the experts to ensure the buildings are safe for residents.

This requirement has resulted in rising maintenance fees, hefty special assessments and pricey insurance for condo owners as we predicted in June 2024 with our call of a 2025 Florida Condo Association Financial Cliff.

South Florida is now “saddled” by an oversupply of condo resale listings, prompting the New York Times to describe the current situation as a buyers market, according to a recent report.

Besides Florida’s Condo Cliff, South Florida is faced with a number of headwinds, including:

• Record high asking prices;

• Escalated mortgage rates;

• Concerns related to the Liberation Day tariffs;

• Fears that foreign buyers will go elsewhere given current U.S. immigration policies;

• And falling overseas passenger traffic at Miami International Airport.

It is against this backdrop that we pulled the numbers to rank the South Florida condo markets.

Our Index measures each respective market based on active listings and pending sales to provide a realtime assessment of each market rather than relying on closed sales that measure a moment in time that could be as long as 120 days ago.

For those wondering which South Florida condo markets are outperforming and underperforming, we have the details based on our proprietary research.

The markets that we evaluated are:

1. South Florida;

2. Miami-Dade County;

3. Broward County;

4. Palm Beach County;

5. Greater Downtown Miami;

6. Key Biscayne;

7. Fisher Island;

8. Miami Beach;

9. North Bay Village;

10. Bal Harbour - Surfside - Bay Harbor Islands;

11. Sunny Isles Beach;

12. Aventura;

13. North Miami - North Miami Beach;

14. Miami’s Upper East Side

15. Miami’s Little Havana

16. Miami’s Coconut Grove

17. Coral Gables;

18. Hollywood - Hallandale Beach;

19. Fort Lauderdale (Downtown - Beach);

20. Pompano Beach;

21. Boca Raton;

22. Delray Beach - Boynton Beach;

23. And West Palm Beach (Downtown - Island).

Based on the Index, the Top 3 Best Overall condo markets in South Florida through August 2025 are:

1. Miami’s Little Havana (13.85 points)

2. Boca Raton (10.00 points)

2. Key Biscayne (10.00 points)

The Bottom 3 Worst Overall condo markets in South Florida for the same time period are:

1. Fisher Island (0.00 points)

2. North Bay Village (3.16 points)

3. Sunny Isles Beach (3.76 points)

As for the older projects, the Top 3 Best Vintage condo markets in South Florida are:

1. Miami’s Little Havana (14.71 points)

2. Miami’s Upper East Side (10.00 points)

3. Key Biscayne (9.33 points)

The Bottom 3 Worst Vintage condo markets in South Florida are:

1. Fisher Island (0.00 points)

1. Miami’s Coconut Grove (0.00 points)

3. Aventura (3.16 points)

For a complete list of both the Overall and Vintage condo market rankings in South Florida, here are the links to each respective report:

• Overall condo rankings

• Vintage condo rankings

We are pleased to offer a portion of our research for free to our newsletter subscribers and MiamiCondo.Club readers, providing a glimpse into our insights.

For full access to our comprehensive reports, statistical charts, virtual Monthly Meetings and exclusive MeetUp events, we invite you to join the Miami Condo Investing Club™.

The Club's mission is to foster a community that shares realtime, actionable intelligence on the latest real estate trends, emerging opportunities and trusted service providers throughout South Florida.

Whether you are a Do-It-Yourself (DIY) condo buyer or a seasoned real estate professional, the Club provides invaluable resources, including up-to-date statistics, expert analysis and access to tailored consulting services.

An added benefit of the Club is that members receive discounts on all Miami Condo Correction Walking Tours™. Please visit MiamiCondoClub.eventbrite.com for a schedule of upcoming tours.

We also encourage you to explore our podcast, available on all major platforms such as Apple, Spotify and YouTube, for insightful discussions and updates.

As always, our consulting, expert witness and buyside brokerage services remain available to you, building on our established reputation since 2006.

For specific information regarding discounted condo resales or bulk deals in South Florida, please visit CondoVulturesRealty.com or contact our office directly at 305.865.5859.

— Peter Zalewski, Founder of the Miami Condo Investing Club™

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This information is intended for general informational purposes only and is based on research, personal experience, and interviews. It does not constitute legal advice, as we are not legal professionals. While we strive for accuracy and completeness, this information is provided on an "as is" basis, without any warranties or guarantees.

Copyright © 2025 Condo Vultures®, LLC. All Rights Reserved.