Island Estates Homes for Sale

Island Estates is an age-restricted 55+ community in Aventura, Miami-Dade County, Florida, governed under the Housing for Older Persons Act (HOPA). Homes are priced from $10,000,000 to $20,000,000. At least one resident per home must be 55 or older. Pure Equity lists homes in Island Estates and represents buyers. Commission is negotiable, and what we are paid is agreed with you in writing before you commit to anything.

Pure Equity Realty covers Island Estates and the Aventura area. We list for 1%, which includes photography, MLS syndication, and negotiation support. Buyers pay nothing for representation. For current market data, see Florida Realtors' market statistics.

Our MLS feed shows a single listing for Island Estates Aventura homes for sale as of October 2026. The median asking price is $20M.

That is 4108% above the Aventura median of $475,000. On a per-foot basis, homes here ask about $2,884 per square foot, compared with $376 across Aventura. So the median price buys roughly 6,950 square feet of living area. With so few listings, though, treat these figures as a snapshot rather than a trend.

Listings here have averaged 70 days on the market. That is faster than the Aventura average of 172 days. As a result, buyers here should be ready to write an offer soon after a showing.

Homes listed in Island Estates date from 2001, so they are about 25 years old.

All of these homes predate Florida's 2002 statewide building code. So roof age, window protection and the wind mitigation report matter a great deal for insurance.

Island Estates includes waterfront homes. Waterfront lots in South Florida often sit in FEMA special flood hazard areas, where lenders require flood insurance. Before you commit, look up the address on the FEMA Flood Map Service Center and ask the seller for an elevation certificate.

At a median near $20M, Island Estates sits in the luxury tier of Aventura. Jumbo financing and proof of funds usually come up early in these negotiations.

Here is what the median Island Estates price means in Florida closing terms. At $20M, a 20% down payment comes to about $4.0M, leaving a loan near $16M.

Florida then taxes that loan twice. First, documentary stamp tax on the note runs 35 cents per $100, or about $55,972. Next, the intangible tax of 0.2% adds about $31,984. Buyers normally pay both at closing.

On the seller side, Miami-Dade charges deed stamps of 60 cents per $100 on a single-family home, about $119,940 at this price. Condos and other property types pay a higher rate.

Finally, owner-occupants should file for the Florida homestead exemption by March 1. It removes up to $50,000 of assessed value. After that, Save Our Homes caps yearly assessment increases at 3% or inflation, whichever is lower. To see what these numbers mean for your budget, get pre-approved before you tour.