It's always interesting to see what's selling in different areas of Sanibel Island. I pulled up the data for the last 365 days (9/2/2013 to 9/2/2014) and it's an interesting mix. This has been a good year for real estate and it shows we are firmly into a recovering market. Nationally real estate is on an "up" trend too, which makes property owners and potential buyers happy.
Our MLS website separates the Sanibel market into categories such as, Gulf, Canal, Near Beach, Bayou, Bayfront, and Interior.
It's not surprising that the areas selling the most properties is "Interior" and "Near Beach," mostly because that's where the majority of the island's properties are located. Since Sanibel is an island, it's almost arbitrary if you call an interior property "Near Beach" or "Interior."
Okay, so let's look at the numbers for Homes and Condos.
Gulf Front Homes Sold - 5 sold from $1,485,000 to $4,100,000.
Gulf Front Condos Sold - 109 sold from $218,000 to $2,350,000.
Bay Front Homes Sold - 7 sold from $622,000 to $5,000,000.
Bay Front Condos Sold - 10 from $$350,000 to $635,000.
Canal Homes Sold - 33 sold from $425,000 to $2,250,000.
Canal Condos Sold - 9 sold from $170,000 to $400,000.
Bayou Homes Sold - 13 from $550,000 to $1,337,000.
Bayou Condos Sold - 1 for $220,000.
Near Beach Homes Sold - 77 from $249,000 to $2,400,000.
Near Beach Condos Sold - 20 from $150,000 to $440,000.
Interior Homes Sold - 54 from $265,000 to $1,750,000.
Interior Condos Sold - 3 from $585,000 to $660,000.
Statistics are fun, but it's much more fun to actually show you properties and find you just what you're looking for! We currently have 147 homes listed on Sanibel as well as 127 condos and I'm positive one of them is your perfect place on the island.
If you're looking to sell, I can help you get your property on the market and sold! Royal Shell Real Estate has three sales offices on the island as well as national marketing to help you find a buyer. Give me a call TODAY at 239-691-4915 or use my Contact Form and I'll get to work for you!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
Sanibel & Captiva Islands
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..."
If you are thinking of selling your home, condo or homesite in the near future, NOW is the time to start the process. We all know our busy season is, well, busy, and it's by far the best time to list your property.
Our snowbirds start arriving next month and the trickle of owners and tourists turn into a flood of people as the weather up north starts to get colder. Our island traffic is always a good barameter of how our season is progressing.
Selling your home is a bit more of a process than just deciding to sell. My last few blogs have been about some of the things you can do to help get your home sold.
You can read Here about the importance of "de-cluttering" your home before potential buyers start showing up for a viewing. When someone shows up to look over your home, it's probably one of five or six homes they have viewed that week and you don't want your home to be remembered as the one with the kitchen crammed with clutter. Since you are planning on moving anyway, why not start the process of packing your "stuff" and getting it out of sight.
Another blog I wrote was about your curb appeal. You can check that one out Here. The first thing a potential buyer sees is the front of your home and your yard. Make sure it's cleaned up and in good repair. Drive up to your home and try and use a new eye and pretend you are a buyer. Look it over and see what sticks out. Does your front door need paint? The stair railing? Maybe a bird bath that hasn't looked good in years? Weeds around the driveway edge?
With just a little investment you can get your curb appeal in order and looking good! A few flowers, some paint, and some TLC will get your home in good order for a quick sale.
When I get a new listing I also get to work. I have a professional photographer come and take some great pictures for advertising (a de-cluttered home is a big help). I also have a virtual tour made of your home that will get posted with the listing for all island realtors (and public) to view. The tour is also easily viewed on public websites such as realtor.com. I send post cards about all new listings to island residents in the area and on my contacts list, and nice curb appeal really helps the post card photos pop!
My job is to sell your property and I take it very seriously. I am a long-time island resident and I understand this market and the challenges of buying, selling and building on our beautuful barrier island! Give me a call at 239-691-4915 or use my Contact Form, and I will get to work to get your property sold!
This is sure to be a busy season, so what are you waiting for?
My new listing is a homesite located at 2512 Wulfert Road in the Sanctuary at Wulfert. The Sanctuary is located off Sanibel-Captiva Road near the northern end of the Ding Darling Wildlife Refuge. This area is close to one of my favorite beaches, Blind Pass. It seems like every time I walk this beach I see people finding the best shells, fishing, and just relaxing under an umbrella.
This homesite measures 112 by 155 by 112 by 154 feet. This very large duplex lot has approximately 7,000 sq. ft. of impermeable coverage. The asking price is $259,500.
The property has terrific views overlooking the water to the 17th fairway and adjoining Sanctuary property.
Privacy and serene comfort would not be understating what this site has to offer. More information and a location map can be found here.
Equity and social membership to the Sanctuary Golf Club are available for purchase, but not required. You can check out my website Sanctuary condo page as well as watch a video of the Sanctuary area for some photos of what the Sanctuary has to offer.
If you are looking for a great location to build your home, this might be just the location for you! I also have another lot listed near this location with waterfront access to Pine Island Sound and the Gulf of Mexico. Check it out here.
As a long time resident of Sanibel Island who has also had a home built on the island, I can help you with all the necessities of getting your home ideas off the ground! Building your own home can he a fun challenge and a rewarding experience... so call me today to get started!
Our summer is ending and we are gearing up for the return of our "snowbirds" as they come back for another fun winter season. Property values have been heading up and we are definitely on the rebound from the property value lows of a couple years ago.
I have access to ALL the island listings and I'm positive I can find just the right property for you! Give me a call at 239-691-4915, or use my Property Search feature on my website to start yoru own property search. You can search by map, price, location, size or just about any other criteria you want!
I'm looking forward to hearing from you, so... Call Me Today!
Did you know you can take a quick tour of some of our favorite neighborhoods? I've been putting together web pages and videos of Sanibel and Captiva for you to enjoy as you start your search of island properties. Our summer weather is almost here and it's a great time to enjoy all the sights and fun things to do on the islands. Besides searching for your island home, summer is great for birding, fishing, shelling and just enjoying miles and miles of our word famous beach!
By watching these videos you can get an idea of what each neighborhood has to offer. I also have a web page for each area in my website's "Near Beach" section. It's a great place to start to explore our islands! I also have pages dedicated to the Lighthouse, Wildlife Refuge and a video tour of Sanibel's eastern end. As well as the information in my website, I'd love for you to use my contact form, or call me at 239-691-4915, so I can put together information for you for your perfect island property!
Herons Landing II
When you're looking for something to do this summer I can help you explore and learn about my favorite place, Sanibel Island. I'm a long-time resident of Sanibel Island, and I love to show off what these islands have to offer. Royal Shell Real Estate has offices on Captiva Island as well as Sanibel Island and I have access to every listed property! Call Me! 239-691-4915
Chateaux Sur Mer
It's June already and I'm getting ready for another busy summer. I am never too busy to help you and your family and friends with their island real estate! I'm looking forward do hearing from you and I hope you enjoy my video tours!
Sarah Ashton, Broker Associate
Royal Shell Real Estate
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!
Owning a Vacant Lot is a great strategy for getting your toe in the water in a community you think you may want to live in the future, as well as a way to diversify an investment portfolio with Real Estate. It is relatively inexpensive to own (Real Estate Taxes) and relatively easy to maintain, perhaps clearing or mowing it periodically.
The challenge comes when you have decided that you aren’t going to build on it yourself and you wish to divest yourself of the investment in return for cash. The market for Vacant Land is a bit fickle. If the overall real estate market is experiencing reduced prices as we have been for the past several years, selling that lot can be tough.
When the prices of existing houses, on perhaps preferred lots is low, it makes the “buy the land and build on it” model a tough one from a financial perspective. Basically we are looking at the price of the land plus the cost to build and needing to be less than or roughly equal to the purchase price of an existing home plus any updates or remodeling. The formulaic side of me can’t help but state it as:
This of course doesn’t take in the entire story either. Clearly the ability to design your living space and to take advantage of current technology and building practices has a benefit. While, at the same time, not all folks are interested in the occasional hassles of the building process, particularly from hundreds of miles away.
Therein lies the conundrum. What is the actual value of a piece of Vacant Land? The variables are great and the comparisons of one piece of land to another is sometimes a difficult one. The value ultimately is in the eyes of the beholder.
Last time I wrote about Sea Spray, which is just down the road from today's topic - Gulf Ridge Community. Slightly larger than Sea Spray, Gulf Ridge has about 60 homes/homesites, with some being direct gulf front properties!
Gulf Ridge also has two pools and two tennis court for your enjoyment! This community is located near the J.N. Ding Darling National Wildlife Refuge and also just a short drive to Blind Pass and Captiva Island.
Over 20 miles of biking/walking trails are located at the entrance to this community!
Currently there are four homes listed in Gulf Ridge. The asking prices start with a three bed, three bath for $760,000, up to a four/four for $3,990,000. There is currently one vacant property available - over an acre for $469,000.
Contact me for all the latest information on our island listings! You can also watch a video tour of Gulf Ridge on My Webpage.
Sanibel is starting to get busy with our winter season almost upon us! Our islands are colorfully decorated for the holidays and we have lots of events coming up. This is a great time to think about looking at island properties! We have a great inventory, and I'm sure I can find just the right location for you.
For Sanibel homes available, we have 209 currently listed in our multiple listing service. The asking prices start with a 3/2 for $250,000.
For Sanibel condos, we currently have 193 listed, starting with a 1/1 for $129,000!
I also want to tell you about my latest listing. It's a homesite located in Sea Oats Subdivision (off West Gulf Drive). This is one of the few remaining vacant lots in Sea Oats, one of our most sought after communities. The property offers views of conservation property, and includes a deeded beach access just a short walk or bike ride away. The asking price is only $315,000! Contact Me or call 239-691-4915 for more information.
You can check out Sea Oats with a video tour on my webpage.
We can always tell when it's starting to get cold up north. Our traffic gets heavier and our resorts start to fill up. This is a great time of the year and it's also a good time to look at what's going on with our real estate market.
Currently we have 185 homes listed on Sanibel, starting with a three bedroom, two bath listed at $250,000 on San-Cap Road, up to a four bedroom, five and a half bath gulf front home listed at $5,495,000. On Captiva Island we have 36 homes listed, from a two bedroom, two and a half bath for $669,00, to an incredible seven bedroom, ten bath listed at $12,500,000. Between our two islands, and many listings, we certainly have just right property for you!
If a condo is more to your liking, we currently have 172 condos for sale on Sanibel. Condos start at a Colonnades one/one unit listed for $129,000, to a 3/4 at Sedgemoor listed for $2,999,900. There are also 54 condos listed on Captiva Island, starting with a 1/1 at Tennis Villas for $225,000 to a 3/3 Beach Homes listing for $2,280,000.
With all these great listings, and interest rates at historic lows, this is the time to get your piece of the Sanibel-Captiva lifestyle and put your footprints on the beach! All signs point to rising prices and an active season so this just might be the last chance to buy at the bottom of the market. We are starting to see homes and condos that are currently listed showing an increase in the listed asking price.
Since the first of the year we've had 152 home closings on Sanibel (avg. selling price of $781,368) and 134 Sanibel condo closings (avg. selling price of $566,057). For Captiva we've had 23 home closings (avg. selling price $1,423,906) and 31 condo closings (avg. selling price $842,242). This shows our islands to be very active in showings and sales! It also shows that this is a great time to put some thought into making Sanibel or Captiva your new home or get-a-way!
Even forgetting all the above statistics, our island lifestyle is always in demand, and of course, I would love to show you around! If you don't think it's quite time to start looking in person, or you are still up north, I can put you on my automatic notification system. If you let me know your criteria for what you might be interested in (price, size, home/condo, location, etc.) you will be emailed the listing details and photos whenever a new listing fitting your criteria becomes available! Easy as that!
Please contact me with any questions you might have about my island! Sanibel and Captiva offers lots to do and more to see and as an island resident, I can point you in the right direction!
Thanks for reading my Blog!
Normally we judge the end of our tourist season by Easter, but that seems like it's not really the story these days. Sanibel and Captiva remain busy for quite a while longer, and then we switch to a "summer" tourist crowd who come here for the fantastic fishing along with all our fun summer events.
Since it's always interesting to see how our real estate market is doing, lets take a look at how we're doing compared to the same time period as last year.
This year from 1/1/2012 to 4/24/2012 we have had 65 home closings on Sanibel compared to 61 homes sold in the same time period last year. The average selling price this year is $806,262 and last year it was about the same at $805,225. Our listing price to selling price ratio for this year is 90% where last year it was 89%. It looks like we are neck and neck with our Sanibel home sales for the two years.
For Sanibel condo sales for the same period:
This year from 1/1/2012 to 4/24/2012 we have had 50 condo closings on Sanibel compared to 52 condos sold in the same time period last year. The average selling price this year is $621,734 and last year it was $695,197. Our listing price to selling price ratio for both years is exactly the same at 90%. These statistics show that condo sales are not quite as active as last year.
For a few more statistics, this year we currently have 233 homes listed on Sanibel along with 227 condos for sale. For the homes, prices range from $275,000 to $6,500,000. Condos range from $140,000 to $3,000,000.
Captiva Island currently has 51 homes listed and 57 condos. For the homes, prices range from $669,000 to $10,900,000. Condos range from $215,000 to $2,475,000.
This has been a fun and active season and I'd love to help you find just the right place! I have access to ALL the listings and since I'm an island resident, I can fill you in on everything you need to know abour our island paradise! You can call me at 239-691-4915 or use this Contact Form.
Located near the west end of Sanibel, Chateaux Sur Mer is a terrific near-beach subdivision where all the properties are just a short walk to the beach.
The deeded beach access allows all residents a fast and easy way to enjoy miles and miles of Sanibel's best beaches! This area is also perfect for sunset walks, or to get on your bike and enjoy over 20 miles of Sanibel bike trails!
Chateaux Sur Mer is made up of five streets: Rue Belle Mer, Rue Helene, Rue Bayou, Ruelle and Rue Royale. The subdivision is close to the Sanibel School, the Ding Darling Wildlife Sanctuary and Captiva Island.
Currently there are just a few properties available in this picturesque subdivision, and I can fill you in on all the details! There are two vacant properties listed at $496,000 and $579,000. There are three homes for sale ranging from $1,285,000 to $2,650,000.
Contact me for more information about these properties!
You can also check out my video of Chateaux Sur Mer and my near-beach vacant lot listing. The property measures 135' by 145' and will allow 30% - 35% coverage to build your beach get-away.
I can help you with the unique possibilities available to you concerning Sanibel construction.
I am also a "Green" designated Realtor. If you are interested in building an energy efficient home I can help! You can also check out my "Green" webpages for more information.
Be sure to check out my website search engine to find ALL the listings available. If you would like me to set up an automatic search for a property you would be interested in, just contact me with the criteria of your needs and you will be automatically sent any new listings that fit what you're looking for!
This week we should talk about Sea Oats subdivision on Sanibel. Sea Oats is just off of West Gulf Drive. I lived in Sea Oats for quite a few years and still own a Sea Oats vacant lot. The subdivision is just a short walk to the deeded beach access and has lots of appeal. Sea Oats is nature at its finest! Bordering conservation property, this is fabulous place to see our local wildlife and native vegetation. Ask me about the bobcat couple in my yard!
There are four roads in the Sea Oats Subdivision: Sea Oats Drive, Hideaway Court, Spartina Court, and Sea Walk Court. There are just over 50 homes in the subdivision along with a few undeveloped lots, so whether you want to build or buy an existing home, Sea Oats might be worth a look.
Currently there is only one home listed in Sea Oats (A testament to how much in demand the area is) for $399,900. The home is a two bedroom, two bath and overlooks the preserve property.
2011 is shaping up to be a much better year than 2010 with respect to Sanibel Island and Captiva Island real estate.
On Sanibel Island there have been a total of 271 houses, condos and lots sold thus far in 2011 versus 219 for the same time in 2010. That is a 23% increase in total volume. The prices of the sold units are up as well. Houses, condos and lots on Sanibel Island have a low prices that are 0 - 15% higher than last year with many more properties over $1 million having been sold.
On Captiva Island there have been a total of 39 properties sold in 2011 versus 26 in 2010. This is a 50% increase in volume. Prices on the top end have increased while some of the smaller properties have sold at a great value.
What is clear is that there will continue to be pressure on Sanibel and Captiva prices to hold or go up in the coming months based upon a greatly reduced inventory from last year. I have had several experiences this summer where my clients had properties sold prior to their being able to get an offer in. Additionally, the number of properties available to view and choose from was greatly reduced.
Greetings from Sunny (albeit humid) Sanibel Island, Florida
The Sanibel Real Estate market has continued to be strong through July and year-to-date we have had an 18% increase in closed sales 2011 over 2010. That is quite remarkable! Condos have lead the way with a 23% increase in the number of closed deals and an strong showing in the $1MM+ end of the market. Very encouraging.
Land sales continue to lag - we actually had more closed land sales year-to-date in 2010 than we have had this year. The values of existing homes is so much greater than the expense of purchasing a vacant lot and building new that the existing homes continue to be a better way to go.
Two clients I have worked with in July have experienced something we haven't had in a long time - loosing a property they were interested in to another interested party getting an offer in on the property first! I have also had clients have to deal with competing offers - another situation we haven't seen in a long time! With all this activity - we are seeing the inventory decline. This is due both to the number of sales as well as the time of year. We typically get more folks listing in October in expectation of the seasonal influx of visitors.
I hope you are having a great Summer and I look forward to hearing from you soon about your plans to come down to Sanibel! Till next time....Sarah
I haven't posted any Sanibel Island Real Estate Updates in a while because I have been soooo busy! That is a very good thing and a great sign of the health of Sanibel Island real estate.
After a very busy "season" - we had a good increase in the number of visitors to the island during the winter months, we are having a very busy real estate season. The number of closed transactions thus far in 2011 is up 16.6% over the same period last year.
In raw numbers we have had 176 closed sales thru June 10 of this year on Sanibel as compared to 151 last year. The only down segment of the market is in Vacant Land - we are still seeing little interest in purchasing a lot to build on when the prices of the existing properties is so attractive.
About prices - we have also started to see more interest in the middle and upper market properties. The lower priced properties are being bought up and buyers are being compelled to look at and purchase the higher priced properties. The $1.5+ properties are starting to move.
About inventory - this time last year there were over 300 Sanibel Island homes for sale and over 300 Sanibel Island condos for sale. At this time there are under 250 houses and under 240 Condos. With reduced inventory there will be some pressure on slight price increases and more resistance on the part of sellers to negotiate. It is still a buyers market but the tide may be turning a bit.
Wow! Here we are one quarter of the way through 2011. Time really does fly when you are having fun!
We are having fun - certainly more fun than our friends up north this winter - My girlfriend in Massachusetts texted me yesterday to let me know she had 6 inches of snow and no power - ouch. We have had the most outstanding weather this year in the 10 years I have lived here. Absolutely without question - warm, sunny days and cool, windows open, sleeping nights - perfect... But I digress....
On to Real Estate...March continued in a strong fashion. 2010 to 2011 we are just about the same in closings in the March vs. March comparison.
Comparing the total Q1 2010 closings to Q1 2011 closings we are 70 to 90 or 28% ahead of last year. That sounds pretty impressive to me. We also have 46 Houses and Condos under contract right now.
Prices? Well it is still a bit all over the map. We are seeing more transactions in the $1 million plus range than we did all of 2010. And we are seeing the $500 thousand to $1 million with more strength than last year. The bargain hunters are still out there and are still finding some deals though not as easily. The folks who need to sell are negotiating and those who do not, aren't.
What is "hot" in Sanibel Real Estate?: Sundial 2 bedroom condos. 5 have closed this quarter and the prices have come down to a great value for these larger, gulf front, gulf view units with rental potential. Pointe Santo de Sanibel came in 2nd with 3 closings in Q1 - 2011. Again - good values with rental potential.
This brings our total houses sold in 2011 to 24 and our total number of Condos to 22. Things are definitely improving. Particularly when you see that there are 49 Pending sales on Sanibel as well.
Are there any "Hot" neighborhoods? The answer is a resounding yes! Of the 24 houses sold on Sanibel thus far in 2011, 9 of them were located in the Dunes! For more about The Dunes, Click the photo or Click Here!
Contact me if you would like more detail on these numbers or would like to check out Sanibel Real Estate!
It is the first week of February and the islands are hopping! Likely due to the rough weather up north (I had to arrange to have 4 feet of snow removed from my folks home in Connecticut so I get it!) there are a lot of visitors here and many Sanibel Real Estate and Captiva Real Estate inquiries - yeah!
This activity prompted me to take a look at the number of Sanibel real estate closings last January and the number of closings this January. Lo and behold, there were 18 in 2010 and 22 in 2011. Given January typically isn't our month with the greatest number of closed sales, can we make the jump to believe that this year may have more closings than last? I think we can. If we get an additional 4 closings per month for the year, or 48 additional closings - we are on track to resume our more typical absorption rate of available Sanibel Island real estate inventory. This is good news for sellers and is even more motivation for buyers to get on it! If Sanibel Island has always been your dream - let me help you realize it while the prices are still low and the interest rates in your favor.
Here is brief look back at the Real Estate on Sanibel and Captiva Islands through 2010
A total of 303 properties were sold on Sanibel and Captiva Islands in 2010.This is a 7.8% increase in the total sold in 2009.Sanibel saw the most activity in 2010 with 265 properties sold making a 10.4% increase in total sold from 2009.There were 124 Houses, 120 Condos and 21 Lots sold.The real story is the increase in Condo sales.In 2009 there were only 86 units sold on Sanibel and in 2010 there were 120.Condos are back!
Captiva continued its slide with only 38 houses, condos and lots sold with Condo sales increasing from 22 in 2009 to 26 in 2010.More evidence that Condos are back.
Prices pulled back in all segments on both islands during the first part of 2009.They seemed to stabilize toward the end of the year.The values are very good!
Property Sold on Sanibel Island in 2010
Homes:124 with prices from $190,000 to $3,275,000
Condos: 120 with prices from $160,000 to $2087,500
My clients all want to know. So - here is what I discovered when mining the MLS system to see what went on January through September 2009 versus January through September 2010.
In all Sanibel real estate categories - Houses, Condos and Land - time on the market is longer and prices are down from 2009. The good news is that the number of transactions is up -- 181 in 2009 and 219 in 2010. This is a 20% increase over 2009 volume.
Below are the 2009 figures followed by the 2010 figures.
Is it a good time to buy - yes! With lower prices and low interest rates, it is a very good time to buy.
For as slow as March was, April has more than made up for it. Actually, for the first 4 months of 2010, Sanibel Island and Captiva Island have been busy. Sanibel Island has seen the inventory go down and the number of houses and condos sold and under contract go up! The prices, while still low, are holding a bit more than before. We have not started to see price increases and the number of price reductions has slowed. Below is a chart of the 2010 activity on both Sanibel Island and Captiva Island.
Activity - January - April 2010
Contact me if you would like additional information about what is going on in Sanibel Island and Captiva Island Real Estate.
2009saw the available inventory drop which bodes well for the prices holding steady.At the end of 2008 we had over 300 homes and 300 Condos for sale on Sanibel Island alone.This year the inventory is as follows:
Current Inventory on Sanibel Island January 1, 2010:
Homes – 263 priced $239,000 to $13,500,000
Condos – 262 priced $194,000 to $3,365,000
Lots – 115 priced $195,000 to $5,250,000
Current Inventory on Captiva Island January 1, 2010:
Homes – 78 priced $879.000 to $18,000,000
Condos – 73 priced $280,000 to $3,875,000
Lots – 12 priced $775,000 to $8,500,000
From 1/1/2010 thru 1/15/2010 there have been 8 properties that have closed on Sanibel and there are 34 properties under contract on both islands. If you would like more information about the current state of Island real estate, email me.
Wow! Has it really been a month since I last posted a blog entry???!!
Well, let's start with a brief look back on the Sanibel Island and Captiva Island Real Estate activity in 2009.
A total of 281 properties sold on Sanibel and Captiva Islands in 2009.Sanibel saw the most activity with 143 Homes, 86 Condos and 11 Lots sold.Captiva continued it’s sluggish pace from 2008 with 16 Homes, 22 Condos and 3 Lots changing hands.
Prices continued to pull back in all segments on both islands in keeping with the economy in general.The good news is that the prices of homes and condos appear to have found a floor.
Property Sold On Sanibel Island in 2009:
Homes: Prices ranged from a low of $285,000 to a high of $3,900,000
Condos: Prices ranged from a low of $175,000 to a high of $3,200,000
Lots: Prices ranged from a low of $175,000 to a high of $750,000
Property Sold On Captiva Island in 2009:
Homes: Prices ranged from a low of $800,000 to a high of $7,250,000
Condos: Prices ranged from a low of $246,000 to a high of $2,175,000
Lots: Prices ranged from a low of $1,325,000 to a high of $2,900,000
If you would like more detail on these statistics, let me know. In my next post, I will take a look at 2010!