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BY Michael Light / On August 17, 2017

 
Miami Beach offers a variety of exclusive islands that house some of the most gorgeous single-family homes and mega mansions in South Florida. A few of the most popular islands include Hibiscus, Palm and the Venetian Islands.

Both Hibiscus Island and Palm Island are separate, private man-made islands in the crystal blue waters of Biscayne Bay, accessible only via the MacArthur Causeway and part of the City of Miami Beach. Both Islands offer exquisite multi-million-dollar homes with stunning architectural designs ranging from Mediterranean to the famed Art Deco to modern, and most have private docks for a true relaxing South Florida lifestyle.

The Venetian Islands are a chain of 6 man-made islands in Biscayne Bay connected by bridges on the Venetian Causeway, which are part of both the cities of Miami and Miami Beach-depending on the island. The 6 beautiful islands that make up the Venetian Islands are Biscayne Island (Miami), San Marco Island (Miami), San Marino Island (Miami Beach), Di Lido Island (Miami Beach), Rivo Alto Island (Miami Beach), and Belle Isle (Miami Beach).

1374 S. Venetian Way is an amazing property on San Marco Island that epitomizes island living. Here is a video of the home:


Available Waterfront Single-Family Home Inventory

At this time, there are 27 waterfront single-family homes listed for sale on the Venetian Islands with an average list price of $10,052,370 and an average list price per square foot of $1,844.65. On Palm and Hibiscus Islands combined, there are 28 waterfront single-family homes for sale with an average list price of $12,734,250 and an average price per square foot of $1,777.07.

Venetian Islands Waterfront Single-Family Home Inventory

  • Total Waterfront Homes Available: 27
  • Average List Price: $10,052,370
  • Average List Price Per Square Foot: $1,844.65

Palm & Hibiscus Islands Waterfront Single-Family Home Inventory

  • Total Waterfront Homes Available: 28
  • Average List Price: $12,734,250
  • Average List Price Per Square Foot: $1,777.07

Available Non-Waterfront Single-Family Home Inventory

Currently, there are only 15 non-waterfront single-family homes listed for sale on the Venetian Islands with an average list price of $2,469,067 and an average list price per square foot of $863.55. Coincidentally, there are also 15 non-waterfront single-family homes currently for sale on Palm and Hibiscus Islands combined with an average list price of $3,371,700 and an average price per square foot of $836.95.

Venetian Islands Non-Waterfront Single-Family Home Inventory

  • Total Non-Waterfront Homes Available: 15
  • Average List Price: $2,469,067
  • Average List Price Per Square Foot: $863.55

Palm & Hibiscus Islands Non-Waterfront Single-Family Home Inventory

  • Total Non-Waterfront Homes Available: 15
  • Average List Price: $3,371,700
  • Average List Price Per Square Foot: $836.95

Single-Family Waterfront Homes Closed in the Last 6 Months

In the last 6 months, 8 waterfront single-family homes have sold on the Venetian Islands with an average sales price of $5,224,375 and an average price per square foot of $1,540.29. Together Hibiscus and Palm Islands have seen only 2 sales of waterfront single-family homes in the last 6 months with an average sales price of $5,812,500 and an average price per square foot of $1,201.58.

Venetian Islands Waterfront Single-Family Homes Closed in Last 6 Months

  • Total Waterfront Homes Closed in Last 6 Months: 8
  • Average Sales Price: $5,224,375
  • Average Sales Price Per Square Foot: $1,540.29

Palm & Hibiscus Islands Waterfront Single-Family Homes Closed in Last 6 Months

  • Total Waterfront Homes Closed in Last 6 Months: 2
  • Average Sales Price: $5,812,500
  • Average Sales Price Per Square Foot: $1,201.58

Single-Family Non-Waterfront Homes Closed in the Last 6 Months

In the last 6 months, 5 non-waterfront single-family homes have sold on the Venetian Islands with an average sales price of $1,832,000 and an average price per square foot of $670.46. Together Hibiscus and Palm Islands have seen only 1 sale of non-waterfront single-family homes in the last 6 months, which sold for $1,200,000, which was $500.42 per square foot.

Venetian Islands Non-Waterfront Single-Family Homes Closed in Last 6 Months

  • Total Non-Waterfront Homes Closed in Last 6 Months: 5
  • Average Sales Price: $1,832,000
  • Average Sales Price Per Square Foot: $670.46

Palm & Hibiscus Islands Non-Waterfront Single-Family Homes Closed in Last 6 Months

  • Total Non-Waterfront Homes Closed in Last 6 Months: 1
  • Average Sales Price: $1,200,000
  • Average Sales Price Per Square Foot: $500.42

Hibiscus/Palm & Venetian Islands Single-Family Home Months of Inventory

Waterfront Single-Family Homes

  • Venetian Islands: 20 Months of available inventory
  • Palm & Hibiscus Islands: 84 Months of available inventory

Non-Waterfront Single-Family Homes

  • Venetian Islands: 18 Months of available inventory
  • Palm & Hibiscus Islands: 90 Months of available inventory

Interested in the South Florida Real Estate Market???

If you, or someone you know, would like more information about luxury homes on any of the exclusive islands of Miami Beachplease contact Michael Light, Broker Associate and Director of Luxury Sales at Douglas Elliman Real Estate. You may reach Michael directly at his office at (305) 350-9842, on his cell phone at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.

Note: The information contained herein was retrieved from the Multiple Listing Service (MLS) on August 17, 2017, and is intended for informative purposes only and, thus, should not be relied upon.
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