Lost Tree Club: What It Costs, How Membership Works, and What the Inventory Looks Like

How Membership Works at the Lost Tree Club

Lost Tree runs on two separate structures, and confusing them is the most common mistake made at this gate. The property owners association comes with the deed and covers security, infrastructure and the common areas. The club is a separate invitation-only equity club, and it operates the golf course, the beach club, the tennis and the dining. Owning a home does not produce membership by itself.

The reported sequence matters more here than at most clubs. A buyer closes first and applies second, with two existing members who know the buyer socially standing as sponsors. Full golf memberships and social memberships both exist. An owner whose application fails keeps the house and the association, and sits outside the club. Serious buyers therefore build the relationships before the purchase rather than after it. Our club membership economics guide explains how the county's invitation clubs differ from its application clubs, and the Admirals Cove edition of this series shows the opposite model.

No initiation figure and no dues schedule appear in this report. The club shares its terms with the people it is considering, the numbers change, and a figure published here would soon be wrong. The club answers the fee question accurately, so we send you there. What the record answers is everything else, starting with the bills that are actually written down.

The Dues on the Record

Association dues are recorded on listings, and they split cleanly by product. A house pays a median $600 a month for the community itself. A condominium pays a median $2,370, because that fee also carries a building, its insurance and its reserves. The two figures buy different scopes of work, so the higher one is not the worse deal.

Property taxes are the other recorded cost, and they follow the sale price rather than the seller's old bill. Our county property tax guide walks that arithmetic, homestead and portability included. Budget from the price you would pay, not from the current owner's assessment.

What Each Tier Buys

Fifty houses have recorded closings since 2021, from under two million dollars in the interior to the waterfront record on Old Harbour Road. Price per recorded foot climbs with the tier instead of falling, which is the opposite of most markets. The reason is the water. The top tiers hold the ocean and harbour frontage, and buyers there are paying for land the community cannot make more of. Our full sales record sets out every closing behind these tiers, and the living guide walks the eight neighborhoods that produce the spread.

Condominiums are the quieter half of the market, with thirteen recorded closings at a median of $3.5M. They trade behind the same gate under the same club structure, at a fraction of the house entry. That makes them the usual first address for buyers arriving for the club.

The Sales the Feed Misses

Most communities can be read from the listing feed. This one cannot, and the county record proves it. We matched every qualified deed of one million dollars and up against the MLS closings in the same window. The deed side holds 110 transactions, and 45 percent of them show no MLS closing at all. Measured in dollars the gap is nearly as wide. Of the club communities where we have run this pass, this is the widest gap we have measured.

Even the recorded side needs care. The community's second largest sale of 2025 closed on the MLS at $55 million, while the deed behind it recorded $50.23 million. The feed is a floor and sometimes an approximation, which is why every serious valuation here starts at the courthouse rather than the portal.

For a buyer the practical consequence is simple. The open inventory below is real, and it is not the whole market. A large share of the deeds here record with no listing behind them, and the work between listings is learning which owners would entertain a conversation.

Where the Negotiation Actually Happens

The median recorded sale took 65 days and closed at 93 percent of its final asking price. Measured against the first asking price instead, the median seller gave up 12 percent. Read together, those two gaps say the negotiating mostly happens through price reductions before an offer ever arrives. By the time a buyer reaches the table, the price has usually done its moving.

What Is Offered Now

The community page shows nine residences open this week, six houses and three condominiums. House asking prices run from $4M to $27M, and the condominiums from $1.9M to $5M. Against a recorded pace of about 13 listed sales a year, that looks like most of a year of supply. The deed pass says otherwise. With almost half the market closing off the feed, the real supply is materially thinner than the list suggests.

Every address below links to its listing, and our full property search covers the surrounding markets. For anything not on this list, ask. That is not a sales line here. It is how the other half of this market actually trades.