It's nice, in fact great, to see our Sanibel real estate market getting fully on its feet again! This year, and last year, have been a continuation of the national economic recovery. It helps that bank rates are continuing to be at historic lows and home prices are extemely reasonable.
Sanibel and Captiva real estate have always been in demand, and it was the economic downturn that dragged us down. Lots of people were just waiting for the recovery to start before they jumped back into the market. Sanibel and Captiva are incredible places to live! As a long-time Sanibel resident, I can definitely relate!
In this blog I want to take a look at our Sanibel near-beach home sales.
Currently we have 52 near-beach Sanibel homes listed. Asking prices start at $424,900 for a two bed, two bath, 1401 sq. ft. ground level home on Tahiti Drive, to a four bed, three bath, 6045 sq. ft. home on Dingman Drive for $2,495,000. There are currently 5 near-beach homes under contract and pending sale.
So far this year we've had 71 near-beach Sanibel homes sold (that's right! 71). The listing to sales price, so far this year, has been 91%.
We are on track toward a great year. Last year during the same period we had 70 near-beach Sanibel home sales, which shows that for two years our market has been healthy. This is a great time to start your search for island property - rising market, low rates, good inventory and reasonable sales prices.
For a snapshot of our current market listings:
Sanibel Total home listings on Sanibel - 146
From a 3/1 on Court Place for $289,000, to a 3/5 for $23,000,000 on San-Cap Drive. Total condo listings on Sanibel - 134
From a 1/1 at Spanish Cay for $$264,000, to Sedgemore Condo for $2,999,900.
Captiva Total home listings on Captiva - 34
From a 3/2 on Dickey Lane for $879,000 to a 7 bedroom on Captiva Drive for $10,900,000 Total condo listings on Captiva - 30
From a 1/1 in Tennis Villas for $225,000 to a 3/3 Beach Home condo for $2,050,000.
Give me a call today to start your search for the perfect island property! I can do all the research for the property that fits your criteria and arrange for you to see it. If you're not on-island, no problem. I can send you photos and all the information you need to advance your search. I can find you just what you're looking for! In a few years there will be many who say, "If only I bought back in 2013 before prices and interest rates..."
This week I would like to point out some of the fun and useful things that you can do with my website! From interesting facts about Sanibel and Captiva Islands to informative videos of our neighborhoods and condos, this is a one-stop site for all your island questions.
Captiva is world famous for its beaches, sights and quaint style and I'd love to be able to show you around!
If you want to search for properties, my site has the most modern and useful search engine you will find. You can search with whatever criteria you wish, or by map (left), or subdivision or condo. It's easy to use and you can save your searches and email your results to friends and relatives.
I even have a page of important numbers you might need when you decide to move to the islands.
As you drive around the island checking out which areas or condos look good to you, you can use my mobile site as you travel around the island. You can search properties with your smart phone or tablet as well as learn about the area and what it has to offer.
If you want to check out Sanibel before you get to the island, I have a couple of videos I made of the east end of the island. It's a great place to start! Click Here! I'm also proud of a video I have of one of Sanibel Island's most popular sites - The J.N. "Ding" Darling National Wildlife Refuge.
As for our local neighborhoods and condos, my condo page and neighborhood page have links to each area along with video tours of each area. This is a wonderful way to check out all the different areas of the island without leaving your home!
Each area has local information, an area map and virtual tour of the neighborhood or condo!
2011 has been good for business in East and West Rocks - a near beach neighborhood on Sanibel Island off the dead-end section of West Gulf Drive, west of Rabbit Road.
To date in 2011 there have been 7 houses that have sold and an additional one under contract. The sales prices have ranged from $520,000 for an older model, 3 bedroom, 2 bath pool home to $899,900 for a 4 bedroom, 3 bath pool home build in 1991.
The low price of $520,000 is an increase over the low price in 2010 of a comparable home by 5%. This increase reflects the active market we have seen in 2011 for properties on Sanibel Island. With the increase in activity comes a decrease in the inventory - hence a bit of price pressure.
The Days on the Market ranged from 91 days (meaning it went under contract very quickly after coming on the market) to 762 days. In the Real Estate market these days - 2 years to sell has not been uncommon. We are seeing that properties that are priced well - taking into account the age, condition and past sales of comparable properties tremendously reduces the time on the market.
Currently there are 4 Active listings in "The Rocks" ranging from $449,000 for a 2 bedroom, 2 bath property to $799,000 for a 3 bedroom, 3 bath home. Perhaps one of these should be yours!
To check out a couple of great videos of East Rocks and West Rocks... CLICK HERE!