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..."
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
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.
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.