55+ Community · Miami Beach, FL
Island Terrace Miami Beach, FL Homes For Sale & Real Estate
Island Terrace, Miami Beach, FL, is a 55+ community in Miami-Dade County with 8 homes for sale right now. Island Terrace Condo is an age-restricted 55+ community in Miami Beach, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA).
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Market Overview
Island Terrace real estate market
There are 8 active listings for sale in Island Terrace right now. The median list price is $469,500, or about $494 per square foot. Listings span $400,000 to $950,000, so there is inventory across most budgets. Homes are averaging 102 days on market. These figures update from the MLS as the market moves.
Island Terrace Market Stats
MLS data updated October 2, 2026- Active Listings
- 8
- Median List Price
- $469,500
- Median $/Sq Ft
- $494
- Avg Days on Market
- 102
- Price Range
- $400,000 to $950,000
Frequently Asked Questions
- How many homes are for sale in Island Terrace?
- There are 8 active listings for sale in Island Terrace right now, and these counts update from the MLS as homes come on the market and go under contract. Prices cluster fairly closely, with the top of the market about 2.4 times the entry level. Ask us to set up a search alert and you will see new Island Terrace listings the day they reach the market.
- What is the median home price in Island Terrace?
- The median list price in Island Terrace is $469,500, or roughly $494 per square foot. The median is the midpoint of what is currently listed, so about half of Island Terrace homes ask more and half ask less, within a broader range of $400,000 to $950,000. The median sits in the lower part of that range, so most Island Terrace homes are nearer the entry level and a few high-end listings pull the top up. We can pull recent comparable sales to price a specific home more precisely.
- What price range do homes in Island Terrace cover?
- Homes for sale in Island Terrace currently range from about $400,000 at the entry level to $950,000 at the top of the market. That spread reflects unit size, floor, and finish level across the condos and townhomes here, with the median list price around $469,500. The spread is moderate, so there is real choice here without the extremes some markets show. Tell us your budget and must-haves and we will send the Island Terrace listings that actually fit.
- How long do homes take to sell in Island Terrace?
- Homes in Island Terrace are averaging 102 days on market, measured from the day a listing goes live to the day it goes under contract. That is a measured pace, which usually leaves buyers room to negotiate and makes pricing at the outset matter more for sellers. Days on market in Island Terrace also shift with the season and with how a home is priced, so a sharply priced listing can still sell well ahead of the average.
- Is Island Terrace a 55+ community?
- Yes. Island Terrace is an age-restricted, 55-and-over active adult community, which generally means at least one resident per home must be 55 or older and the community is built around an active adult lifestyle. These communities usually pair lower-maintenance homes with amenities such as a clubhouse, pool, fitness center, and a full social calendar. Rules on age, occupancy, leasing, and pets are set by the HOA and vary, so confirm the current governing documents for Island Terrace before you write an offer.
- Are there waterfront homes in Island Terrace?
- Yes. Island Terrace includes waterfront homes with canal, lake, or Intracoastal frontage.
About Island Terrace
Island Terrace, Miami Beach, FL, is a 55+ community in Miami-Dade County with 8 homes for sale right now. Island Terrace Condo is an age-restricted 55+ community in Miami Beach, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $459,000 to $1,300,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Island Terrace and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.
Homes & Architecture
Homes for sale in Island Terrace
Homes for sale in Island Terrace offer 1 to 2 bedrooms and 1.5 to 2 baths. Floor plans span roughly 950 to 1,305 square feet. The mix here includes condo homes. Current prices run from $400,000 to $950,000.
Schools
Schools near Island Terrace
Homes for sale in Island Terrace are typically zoned for the Miami Beach public schools below, based on current MLS listings. Confirm the exact attendance zone for any specific address with the Miami-Dade County school district before you buy.
- Elementary School
- North Beach
- Middle School
- Miami Beach Nautilus
- High School
- Miami Beach
HOA
Island Terrace HOA fees
- Median HOA fee
- $1,491/mo
- Typical range
- $1,425 to $1,628
- Lowest to highest
- $1,425 to $1,924
- Listings with a fee
- 8 of 8
Across the 8 homes for sale in Island Terrace that list an HOA fee, the median is $1,491 a month. Half of them fall between $1,425 and $1,628. Fees quoted quarterly or yearly are converted to a monthly figure so they compare directly.
The fee most often covers grounds maintenance, trash pickup, common areas, pool upkeep, water and sewer. Coverage differs from one building or section to the next, so read what a specific listing includes before comparing it with another.
Listings here most often mention elevators, fitness center, grounds maintenance, pool, laundry facilities and on-site management.
6 of the 8 listings that state a pet policy allow pets, often with limits.
From current MLS listings in Island Terrace; the figures change as homes come and go. Confirm the fee, any special assessments and the association's rules with the HOA before you buy.
Recent Sales
Recently sold homes in Island Terrace
These are the last 5 recorded closings in Island Terrace, with the price each home actually sold for rather than what it was listed at. They closed at a median of $520 per square foot. The most recent closed on September 15, 2026. Closed sales are what an appraiser and a buyer's agent will look at, so they are the starting point for pricing a home here.
Sold$440,000
Sold · September 15, 2026
5 Island Avenue 15A
1 bed · 1.5 bath · 950 sqft · $463/sqft
$35,000 under the asking price
Sold$679,000
Sold · August 27, 2026
5 Island Avenue 12C
2 bed · 2 bath · 1,305 sqft · $520/sqft
$221,000 under the asking price
Sold$575,000
Sold · April 28, 2026
5 Island Avenue 15G
1 bed · 1.5 bath · 950 sqft · $605/sqft
$60,000 under the asking price
Sold$485,000
Sold · December 29, 2025
5 Island Avenue 4E
1 bed · 1.5 bath · 950 sqft · $511/sqft
$15,000 under the asking price
Sold$1,463,000
Sold · September 5, 2025
5 Island Avenue 15D
2 bed · 2 bath · 1,333 sqft · $1,098/sqft
$187,000 under the asking price
See every recorded sale in Island Terrace or find out what your Island Terrace home is worth.
Market & Value
Island Terrace market and home values
The Island Terrace real estate market reads best through the community's own recent activity, not a county-wide average. The median list price in Island Terrace is around $469,500, or roughly $494 per square foot. That sits about 21% below the Miami-Dade County median, which shows where Island Terrace lands in the local market. Recent asking prices have run from $400,000 to $950,000, so the home you choose within Island Terrace matters as much as the community average. Homes here have recently taken about 102 days to go under contract, a useful gauge of how quickly the Island Terrace market is moving. For pricing an offer or a listing, comparable sales within Island Terrace carry more weight than any headline number, since homes of the same type and size set the real range. Pure Equity can pull the active and recently sold homes in Island Terrace so you work from real numbers, not an estimate.
How It Compares
Island Terrace compared to nearby Miami Beach communities
Island Terrace sits 6 of 7 on median price among these Miami Beach communities. Price per square foot is the fairer comparison between communities, because it adjusts for the fact that one neighborhood builds bigger homes than another. Days on market shows how quickly each one is actually selling.
| Community | Homes | Median | $/Sq Ft | Days |
|---|---|---|---|---|
| Fontainebleau | 40 | $1,424,000 | $1,672 | 284 |
| Roney Palace | 51 | $1,299,000 | $1,476 | 214 |
| Central Carillon Beach | 33 | $590,000 | $844 | 280 |
| Seacoast | 34 | $573,500 | $601 | 341 |
| The Decoplage | 46 | $492,450 | $724 | 255 |
| Island Terrace this page | 8 | $469,500 | $494 | 102 |
| Mirador | 54 | $399,500 | $507 | 223 |
Medians come from active listings in each community and move as inventory turns over. They describe the homes currently for sale, not what any one home is worth.
Who It Suits
Is Island Terrace right for you?
It helps to know who Island Terrace tends to suit before you tour. As an age-restricted community, Island Terrace fits active adults, downsizers, and seasonal residents who want a lock-and-leave home and a full social calendar. At least one resident usually needs to meet the age requirement, so confirm the specific age rule and any younger-spouse provision before you buy. On price, Island Terrace lands in the middle of the market, a common fit for move-up buyers and full-time residents. Whether Island Terrace is right for you depends on how you plan to use the home, full time or seasonally, and Pure Equity can walk you through the tradeoffs before you commit.
Amenities & Lifestyle
Living in Island Terrace
Waterfront homes here offer canal, lake, or Intracoastal frontage, and some sites include private dockage. As an age-restricted community, Island Terrace centers on an active adult lifestyle, with amenities and a social calendar built for residents 55 and over.
Location
Island Terrace location
Island Terrace is located in Miami Beach, part of Miami-Dade County, Florida. The Miami Beach area's shopping, dining, schools, and parks are all nearby, and the region's job centers, beaches, and airports are within driving distance.
Buying in Island Terrace
Buying a home in Island Terrace
The buying process in Island Terrace is the one used across Miami-Dade County. Getting a mortgage pre-approval first tells you your real budget and lets you move quickly when the right home comes up. Ask for the association's governing documents, budget, and reserve study before you write an offer. Association fees, any club or membership costs, and rules on rentals, pets, and leasing vary by community and materially affect the true cost of ownership. Property taxes factor into the monthly payment: the median annual property tax in Miami-Dade County is about $3,516. Florida's homestead exemption lowers the taxable value of a primary residence, and the Save Our Homes cap limits how fast that assessed value can rise from year to year. Budget for homeowners insurance as well. Rates in Florida reflect wind and flood exposure, so gather quotes early and check whether a specific address sits in a FEMA flood zone. Once you are under contract, plan for a home inspection and, if you are financing, a lender appraisal, both of which fall inside the inspection period. Working with an agent who knows Miami Beach means you see new listings in Island Terrace the day they reach the market.
Selling in Island Terrace
Selling a home in Island Terrace
Selling a home in Island Terrace starts with pricing it correctly for current conditions. List prices in Island Terrace currently center around $469,500, which is a starting reference for where a comparable home might be positioned. Homes that are decluttered, professionally photographed, and priced to recent comparable sales tend to draw the most interest in the first two weeks, when a listing is newest and gets the most views. Buyers in an association community also want to see the HOA or condo docs, the reserve study, and any pending or special assessments up front, so having those ready before you list avoids delays once you are under contract. Florida sellers usually pay the documentary stamp tax on the deed, currently $0.70 per $100 of the sale price in most counties, along with prorated property taxes and, by local custom in many areas, the owner's title insurance policy. We provide a no-obligation home valuation for Island Terrace owners in Miami Beach, so you can see what your property could sell for before you commit to listing.
Thinking of Selling?
What is your Island Terrace home worth?
Online estimates miss what makes a home different. Tell us about yours and a licensed listing agent will send you a pricing opinion based on what has actually closed near you in Island Terrace.
Listing agents and seller representation in Island Terrace
Thinking about selling in Island Terrace? The agent you pick shapes two numbers: what your home closes for, and how long it takes. A listing agent, also called a seller's agent, prices the property against what has actually closed nearby. They also prepare and market it, screen the offers that arrive, and negotiate the terms rather than just the price.
Conditions in Island Terrace sit close to balanced, which rewards sellers who price against real closed sales instead of neighboring asking prices. Homes here are averaging about 102 days from listing to accepted offer, so build that into your moving timeline.
Community-level detail matters most here. Association rules, what the fees cover, and which buildings sell fastest all affect your outcome. So does whether a buyer needs board approval before closing. None of it appears in a listing description. All of it decides whether a sale closes on time.
Pure Equity is a licensed Florida brokerage serving Island Terrace. Onias Derilus is the broker of record, Florida Real Estate Broker license BK3276618. A broker holds a higher license than an agent working under one. In practice that means the person advising you on price is also the one legally responsible for the file. That matters most when a deal gets complicated.
More on this: understanding your listing agreement · selling a house with hurricane damage
Realtors and real estate agents serving Island Terrace
People search for realtors, real estate agents, and real estate brokers more or less interchangeably. For most purposes the job title matters less than licensing and representation. Every licensed agent in Florida works under a broker. That broker carries final responsibility for the transaction.
What separates real estate professionals in Island Terrace is specificity. Can they answer questions about your street, not just your city? Ask what they have closed nearby and how they arrived at a price. A grounded answer cites particular recent sales. It also explains why those homes compare to yours. Vague reassurance is the warning sign.
More on this: does a busy street lower your home value? · how much is my house worth in South Florida? · selling in a difficult situation
Buyer's agents in Island Terrace
A buyer's agent represents the purchaser rather than the owner. They identify properties that actually fit and research what comparable homes sold for, not what they asked. They also advise on offer strategy. Finally, they manage inspection and financing deadlines through to closing.
Where buyers have room to negotiate, as they do in Island Terrace, the leverage is only worth something if you know where it exists and what to ask for. If you are buying and selling at the same time, which is common for people moving within Miami-Dade County, sequencing the two is its own skill: contingencies, timing, and what happens if one closing slips all need planning before either home goes on the market.
What representation costs
Real estate commissions are negotiable. No law, multiple listing service, or association sets them. If an agent tells you there is a standard rate, they are misinforming you. What you pay is agreed between you and the brokerage you hire. Get it in writing before the work begins.
Industry rules changed in 2024. Now a buyer and their agent must put compensation in a written buyer agreement before touring homes together. Sellers may still offer to contribute toward the buyer's side. However, that is negotiated rather than assumed. It is worth thinking through with your listing agent before you go live.
More on this: how commission is actually structured · how long it takes to sell a house · what you actually walk away with
Buying Instead?
Search Island Terrace with someone local
We will tell you which listings are worth your time, what comparable homes actually closed for, and how to structure an offer that holds up through inspection and financing.
Frequently asked questions
How do I find a listing agent in Island Terrace?
Ask any listing agent you interview two questions. Which homes have they closed near Island Terrace, and how did they arrive at their suggested price? A grounded answer names recent closed sales. It also explains why those homes compare to yours. With a median around $469,500 here, the gap between realistic pricing guidance and optimistic guidance is real money. Verify the license too. Florida licenses are public and searchable through the state's DBPR portal. Pure Equity is a licensed brokerage serving Miami-Dade County. You can reach the broker directly at (561) 835-5400.
What does a seller's agent actually do?
A seller's agent prices the home against comparable closed sales. Before it goes live, they advise on repairs and presentation. Then they handle photography and marketing, and put the home in front of buyers and other agents. When offers arrive, they screen them and negotiate both price and terms. Terms matter as much as the number, because inspection windows, financing contingencies, and closing dates all affect whether an offer reaches the closing table.
How much does a real estate agent cost in Island Terrace?
Commissions are fully negotiable. No law or real estate board sets them. What you pay is whatever you and your brokerage agree to in writing before work begins. Since the 2024 rule changes, buyers and their agents must agree compensation in a written buyer agreement before touring homes. Any seller contribution toward the buyer's side is negotiated rather than automatic. Ask any agent you interview to put their fee in writing.
What is the difference between a realtor, a real estate agent, and a broker?
A real estate agent holds a state license to represent buyers and sellers. A broker holds a higher-level license and can operate a brokerage. That broker also carries final legal responsibility for the office's transactions. Realtor is a membership term for agents belonging to the National Association of Realtors. For someone buying or selling in Island Terrace, three practical questions matter. Is the person licensed, who do they represent in your transaction, and what can they actually tell you about your local market?
Do I need an agent to buy a home in Island Terrace?
You are not legally required to use one, but most buyers in Island Terrace do. A buyer's agent handles the parts that are easy to get wrong. That means identifying what comparable homes actually closed for, spotting condition or association issues early, and managing inspection and financing deadlines. Even in a slower market, negotiating room is only useful if you know where it exists.
Can one agent help me sell my current home and buy the next one?
Yes. For people moving within Miami-Dade County it is often the more practical route, because one person coordinates both timelines. Sequencing is the hard part. Should your purchase be contingent on your sale? How would you cover a gap if the closings do not line up? What happens if one side is delayed? Plan all of that before either home is listed, rather than after an offer arrives.
Public Records
Look up Island Terrace property records
Anything on this page that affects what a home costs to own, assessed value, exemptions, flood zone, is published by a public agency. These are the official sources, not our summaries of them.
Miami-Dade County Property Appraiser
Assessed value, homestead exemption status, and recorded sales history for any parcel.
FEMA Flood Map Service Center
Look up the official flood zone for an address before you budget for insurance.
Florida Department of Revenue, property taxes
How Florida assesses property, and which exemptions you can claim.
More Communities in Miami Beach
Star Island
Waterfront Community
Mirador
Waterfront Community
Roney Palace
Waterfront Community
The Decoplage
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Fontainebleau
Waterfront Community
Seacoast
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Central Carillon Beach
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The Pavilion
Waterfront Community
Castle Beach Club
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72 Park
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The Carriage House
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Isle Of Normandy Miami
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