Sanibel Island Real Estate is moving.  There is no doubt about it, the showings are up and the contracts being written are up.  As in most years, the more serious buyers come back after Easter to do their looking.  This is for a couple of reasons.  1.  It is easier to get into properties after season, the occupancy is lower and 2.  They aren't trying to combine a vacation with a property search.  It usually works better.  Anyway, the folks are here and they are looking to pick up a well priced piece of Sanibel real estate. I think we may be seeing our low. 

Ok - I admit it - I am a Sanibel Island Realtor and I am always optomistic!  There, I said it - I am optomistic.  This time it is about some of the signs we are seeing, nationally and locally about the state of Sanibel Island Real Estate. 

On the national scene, the stock market has been posting fairly consistant gains and yesterday we saw all the indices rise with some good news about retailing and even - banking!  It is commonly believed that the stock market begins to rise about 6 months before an economic turnaround so, given that we have about 5 more months to go.  The interest rates continue to be low and the credit, that has been strangling the most credit worthy of folks, is finally loosening just a bit!  The employment data is really the big wild card.  With so many jobs being shed it will dampen any uptick in the retail improvements - but time will tell.  Having been a victim of the 1991 recession, being laid off, I can only tell you that things do improve and businesses respond in healthy ways

Locally - our tourist season on Sanibel has been healthy.  Most businesses are reporting the same if not a bit improved figures over last year.  And in Real Estate - we are seeing deals coming together.  After one of the slowest starts in a very long time, we are now finally seeing properties go under contract.  Since the beginning of the year, the low end is where the activity has been and now it is moving to the middle and high end.  It is quite exciting to see.  Personally I have a number of clients looking at coming down in May and June to look in earnest.  There is a ground swell of opinion that the bottom, of the Sanibel Real Estate market, may at last be in sight.  So maybe I'm not the only one who is optomistic! 

Well - the Truth hurts. From our high in 2006, where the median home sales price for a home on Sanibel Island was $868,500 - we have experienced a 19.4% drop in prices through 2008. This means that the median sales price in 2008 was $700,000. That is telling. However, I still would rather have my money in Sanibel Island Real Estate given that the stock market fell an average of 30% - 40%. Doesn’t seem like such a painful prospect in that light. In addition, the Days on Market for Sanibel Island Real Estate for the same timeframe went from 137 days in 2006 to 207 days in 2008. So the holding time was extended as well. What does that mean for you if you want to buy or sell Sanibel Island real estate? Contact me and we can discuss strategies that will work for you!  sarah@sanibelislandsensations.com

 

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Sanibel and Captiva Islands are very special, whether you love our islands for their fantastic beaches or for the protected wildlife, we are truly one of the world's best kept secrets!

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