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Friday, October 20 2017

Sanibel and Captiva Bounce Back From Hurricane Irma

The winds have passed, the rain has stopped and the predicted storm surge failed to fully materialize. The overturned trees, broken limbs and dead leaves are being cleaned up. Without a doubt we dodged a really big mess and are working through the aftermath of merely a moderately sized mess. That isn't saying we don't have some damage to homes – trees did hit a few. Nor is it saying that there wasn't some water damage from some roof leaks or higher than average water levels. What is true is that this could have been much worse.

sanibel real estate

sanibel real estate

sanibel real estate After Hurricane Charlie in 2004, we had a good deal of damage, particularly Gulf front condos. The 'bargain hunters' were out in force, looking for The Deal. Now the question on the minds of many is: What does Irma mean for Island property values and for the upcoming season? This depends somewhat on the type of property your are discussing. In general, the Season will likely start out slowly with buyers being keenly aware of the recent threat of Irma. Prices will likely be flat or lower over the same time last year until confidence returns. Some specific segments may respond differently.

Rental Condos: One thing seems very clear – any island rental properties should have ZERO vacancies through Season. With all the damage to other popular winter rental destinations – The Keys, Marco Island, part of Naples and the Caribbean Islands – the demand for intact places to escape the cold will be high. Typically this means that the value of these rental properties rises as they are viewed as great investments.
Prediction: Increasing prices

sanibel real estate

sanibel real estate

sanibel real estate

Single Family Homes: Most homes on Sanibel and Captiva came through with little or no damage. Screen enclosures has some screen blow out and the vegetation around many yards are messy. Four months from now few will be able to tell Irma even came close. What did happen with Irma however was the increased awareness of the potential for Storm Surge. After Harvey in Houston we all saw the impacts of water pushed up froma large storm. Ultimately, this is going to affect our Flood Insurance rates and will adversely affect the interest in, and hence, prices of ground level homes – at least in the short run. Homes built to the newer building codes will be at premium.
Prediction: Ground level homes – prices down; Elevated homes – prices stable or increased

Residential Condos: (those with restrictions on duration and frequency of rentals) Most of these condos on Sanibel and Captiva are directly on the Gulf of Mexico. They have terrific views and generally are larger. Initially, interest in these properties will be slow to return in part because of their price point and in part because of their exposure in the event of a storm.
Prediction: prices stable to slightly up

sanibel real estate

sanibel real estate

Vacant Lots: Building on the islands has never been for everyone. It is costly and it is a lengthy process with the premitting and the building process. The number of vacant lost on the islands has been decreasing steadily over the years with very few remaining. Additional building sites have been created by tearing down older properties in desirous island locations. This is very likely to continue.
Prediction: Lot prices up slightly and more tear downs to create 'new' vacant lots, particularly in desirous locations.

Only time will tell what really happens to the values of properties on Sanibel and Captiva. What is true is that there are still more folks retiring every day and many of them from New England and the Midwest have little interest in toughing out the winter. Barring any other economic factors, the demand will be back.

sanibel real estate

So don't let this past storm change your interest in Sanibel and Captiva Islands. We have a super inventory of properties for sale. Condos, homes and homesites - I can find the perfect property for you!

Contact me with your criteria and I will do the work and put together a list of properties that match your needs. Beat the winter season rush and start your property search today!  If you wish, you can start your search yourself through my advanced property search. Just Click Here to see what Sanibel and Captiva have to offer!

Sarah Ashton, Broker Associate
ReMax of the Islands
239-691-4915
Web Contact Form

 

Posted by: AT 08:01 am   |  Permalink   |  Email
Saturday, July 18 2015

Comparing 1st six months sales - 2014 vs. 2015

January - June 2014 compared with January - June 2015

It's always interesting to check out same-time sales over the years to see how our market is doing. As you can see in the stats below, over the same 6-month period, most catagories show a marked improvement from last year. The exception are Captiva home sales, which are down, but the average selling price is up. Sanibel condo sales are also slightly down in numbers from last year.

On Sanibel we currently (7/18/2015) have 104 home listings with prices ranging from $450,000 to $4,895,000. We have 88 Sanibel condo listings ranging from $225,000 to $2,395,000. On Captiva Island we currently have (7/18/2015) 39 home listings ranging from $889,000 to $10,500,000, and 39 Captiva condo listings from $244,000 to $2,700,000.

This is the lowest number of Sanibel homes for sale at this time of year I have seen in the 12 years of my being an island Realtor! As you might expect, there has been some price pressure due to this reduced inventory.  
From January through June 30 there have been 159 houses that have been sold on Sanibel with prices ranging from $247,000 to $3,725,000.
Looking at these numbers it becomes clear that if the pace was consistent throughout the year that we have just under a four month supply of houses for sale.That is quite amazing. The reality is that this is our low time for inventory and we will begin to add listings in October/November.
Captiva Island also has the lowest number of condos for sale at this time of year that I have seen. 

A Great Start to 2015 Sanibel and Captiva Island Sales

Homes Sold Av price Av Market/Days List/Sell %
Sanibel 2014 128 $838,164 234 93%
Sanibel 2015 159 $896,728 252 94%

Condos Sold Av Price Av Market/Days List/Sell %
Sanibel 2014 103 $682,692 240 94%
Sanibel 2015 99 $689,117 322 94%

Homesites Sold Av Price Av Market/Days List/Sell %
Sanibel 2014 17 $441,356 612 89%
Sanibel 2015 27 $326,330 356

93%

Homes Sold Av price Av Market/Days List/Sell %
Captiva 2014 17 $2,834,794 374 90%
Captiva 2015 11 $2,927,955 473 92%

Condos Sold Av price Av Market/Days List/Sell %
Captiva 2014 12 $617,042 600 92%
Captiva 2015 22 $1,057,432 220 95%

Sanibel App If you plan to visit Sanibel Island, of if you are a resident, download my Sanibel App! The Sanibel App is a great source for things to do and local information. You can get my FREE app at either the Google or Apple stores. Click here for the FREE download!  Google Play or the Apple Store.

As usual... give me a call at 239-691-4915 or use my Contact Form to get started on your Sanibel-Captiva property search. As an island resident I can help you find your perfect place in paradise! Call me today!

Sarah Ashton, Broker Associate
Royal Shell Real Estate
239-691-4915

Posted by: AT 10:53 am   |  Permalink   |  Email
Tuesday, June 16 2015

Fourth of July parade and other upcoming events!

Every year we look forward to our Fourth of July events on Sanibel Island, including a great parade! This year the fourth is on a Saturday, which just makes it better for everyone! The Parade will start at 9:30 in the morning and proceed from Tarpon Bay Road and Periwinkle (Bailey’s Center) on Sanibel, and end at Periwinkle and Casa Ybel Road near Jerry’s Plaza.

This is a super fun event for visiting families and residents. Many of our local businesses take part, as well as the Sanibel School and city officials. I always enjoy watching the classic cars roll past. A great way to start the festivities!

Sanibel Real Estate

Sanibel Real Estate

Sanibel Real Estate

Sanibel Real Estate

Sanibel Real Estate

We also celebrate with our 36th annual Optimists' 4th of July Road Rally. It starts at Noon from the Timbers parking lot. 

This is a fun Sanibel Island event and it always has a great turnout! Maybe this is your year to participate!

Sanibel road rally

And who doesn't love fireworks! Every year Sanibel Island has a great fireworks show! You can watch from the Sanibel Causeway, Sanibel Lighthouse, or get the best view from a fireworks cruise with Adventures in Paradise!

You can listen to tropical music as they cruise the San Carlos Bay, watch the Sanibel Sunset, and then catch a great view of the Sanibel Fireworks!

You can check out all our upcoming summer events at our Sanibel-Captiva Chamber of Commerce website.

Sanibel fireworks

While you're visiting Sanibel and Captiva islands, be sure to check out my website for many more things to do! My Sanibel Island Sensations webpages are full of photos, events and local historical sites. Our wildlife preserves and the Ding Darling Wildlife Refuge are a "must see" while you are here. Check out this great video (right) of our world famous Refuge and I'm sure you'll put it on your list of things to do!
As always, I want to help you find your piece of our island paradise! This should be your time to make the move to Sanibel or Captiva. Sanibel Island real estate currently has a good inventory of homes, condos or homesites and I'm sure I can find the perfect place for you. Give me a call TODAY or you can start your search yourself with my Sanibel-Captiva and Fort Myers real estate user-friendly search engine. All the current listings are at the tip of your fingers and you can search by map, price, location or any other criteria you wish! Start your search today!! Sanibel real estate

Sarah Ashton, Broker Associate
Royal Shell Real Estate
Captiva, FL 33924
239-691-4915

Web Contact Form

Posted by: AT 10:47 am   |  Permalink   |  Email


Servicing the Real Estate Needs of Buyers and Sellers on Sanibel and Captiva Islands.

 
ReMax of the Islands Sarah Ashton
Sarah Ashton Sarah S. Ashton, Broker Associate, Realtor®
ReMax of the Islands
2400 Palm Ridge Road
Sanibel, FL 33957

 

Office Phone: 239.472.2311
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