Sanibel & Captiva Real Estate Scoop on New Year’s Eve


Like last Friday, the rest of the SanibelSusan gang is off today enjoying their last holiday until Memorial Day (bet they won’t like it that I mentioned it that way). I had a busy morning in the office with nice visits from some clients in town enjoying their holiday island-style, good progress on a couple of sales in-the-works, and a couple of real estate inquiries. This afternoon, however, it’s been pretty quiet. I think the New Year festivities have begun. Here is some island scoop, followed by the MLS action for the week.

Warm End to 2010 & Start of 2011

The month of December will likely go down as one of the coolest on record in SW FL. In the Fort Myers area, there were 22 morning low temperatures in the 40’s & 30’s. Daytime highs all month were running below average nearly every day. After a few very cold mornings the first half of this week, we were back to “normal” yesterday with highs in the mid-70’s. Today through the weekend, lows will be in the upper 50’s and highs in the upper 70’s. Just the way we like it for bringing in the New Year! I even turned the AC back on in the office this afternoon.

Island Stuff To Do

Tomorrow at high noon, the Sanibel-Captiva Polar Bear Club takes their 11th annual plunge at Tarpon Bay Beach. They hope to break their previous attendance record of 229. It’s free, but go early to check in.

More than recreation and fitness classes are offered at The Sanibel Recreation Center. Here’s a good one coming up on Sunday, Jan 9, noon to 4 p.m. – American Red Cross Pet First Aid Course. This class offers the skills needed for unexpected pet emergencies until you can get the pet to a veterinarian. See more details at www.mysanibel.com.

The Modulators Again at ‘Tweenies: For the last 20 years during the first two weeks of January, the Modulators have made their annual pilgrimage from Cincinnati to Captiva to rock The Crow’s Nest at ‘Tween Waters. This year is no exception. They are already there. www.modulators.com

Recap of Island Sales in 2010

With several properties closing today, these may not be the final stats for 2010, but they are pretty close and include all of the sales posted in the Sanibel & Captiva Island Multiple Listing Service as of 2 p.m. on New Year’s Eve. For those wondering how these sales stack up to 2009, I have posted some comments in (parenthesis) after each property type.

121 SANIBEL HOMES sold at an average sale price of $775,172, averaging 314 days on market:

            3 bay-front homes, averaging $1,352,708 & 336 days on market

            2 bayou-front homes, averaging $1,005,000 & 361 days on market

            23 canal-front homes, averaging $962,598 & 315 days on market

            5 gulf-front homes, averaging $2,481,000 & 291 days on market

            28 inland homes, averaging $510,265 & 459 days on market

            60 near-beach homes, averaging $648,259 & 255 days on market.

(In 2009, 144 Sanibel homes sold, averaging $755,033 & 278 days on market. So though not quite as many homes have been reported closed this year, the average price is creeping up a little.)

120 SANIBEL CONDOS sold at an average sale price of $608,545, averaging 381 days on market:

            6 bay-front condos, averaging $489,433 & 550 days on market

            3 canal-front condos, averaging $288,333 & 248 days on market

            89 gulf-front condos, averaging $684,042 & 387 days on market

            6 inland condos, averaging $577,334 & 426 days on market

            16 near-beach condos, averaging $365,295 & 308 days on market.

(In 2009, 87 Sanibel condos sold, averaging $670,489 & 338 days on market. Condo prices still seem to be dropping in come complexes, but the good news is that a lot more condos have sold than last year, almost 40 percent more.)

20 SANIBEL LOTS sold at an average sale price of $341,250, averaging 483 days on market:

            1 bayou-front lot for $595,000 on market for 267 days

            1 gulf-front lot for $1,349,000 on market for 63 days

            1 inland lot for $310,000 posted for statistics only

            17 near-beach lots, averaging $274,118 & 661 days on market.

(In 2009, 11 Sanibel lots sold, averaging $333,136 & 414 days on market. Lot sales are still dropping too, but the number of lot sales have almost doubled over last year.)

10 CAPTIVA HOMES sold at an average sale price of $2,258,260, averaging 357 days on market:

            3 bay-front homes, averaging $3,879,167 & 354 days on market

            1 gulf-front home for $2,999,000 on market for 417 days

            5 near-beach homes, averaging $1,389,000 & 405 days on market

            1 Roosevelt Channel home for $2,350,000 on market for 65 days.

(In 2009, 16 Captiva homes sold, averaging $2,573,016 & 321 days on market. Both the number of home sales and average home sale price on Captiva are down.)

26 CAPTIVA CONDOS sold at an average sale price of $685,730, averaging 300 days on market:

            8 bay-front condos, averaging $543,886 & 388 days on market

            2 canal-front condos, averaging $437,500 & 312 days on market

            12 gulf-front condos, averaging $821,492 & 274 days on market

            4 near-beach condos, averaging $686,250 & 194 days on market.

(In 2009, 22 Captiva condos sold, averaging $804,818 & 361 days on market. This shows a big drop in average sale price over last year, but 4 more condos sold.)

2 CAPTIVA LOTS sold at an average sale price of $2,850,000, averaging 284 days on market, both gulf-front. (In 2009, 3 Captiva lots sold, averaging $2,241,667 & 630 days on market. Not many vacant lots are left on Captiva, so these numbers really don’t tell much. There are 14 more on the market now.)

Sanibel & Captiva MLS Activity December 24-31:

Sanibel:

CONDOS

1 new listing: Atrium #101 3/3 $989K.

8 price changes: Sundial #C208 1/1 now $345K, Sundial #H409 1/1 now $419K, Sanibel Arms West #L7 2/2 now $475K, Loggerhead Cay #361 2/2 now $499K, Pointe Santo #D36 2/2 now $599K, Snug Harbor #212 2/2 now $625K, Sundial #Q205 3/2 now $699K, Pelicans Roost #104 2/2 now $749K.

2 new sales: Island Beach Club #220C 2/2 listed for $529K, Heron at The Sanctuar7 III #2B 2/2.5 listed for $634.9K.

3 closed sales: Pointe Santo #D41 2/2 $720K, Compass Point #112 3/3 $915K (our listing), Sandals #C 3/3 $1.635M.

HOMES

4 new listings: 2621 San Cap Rd 3/2 $290K; 987 Black Skimmer Way 2/2 $625K; 3061 Poinciana Cir 3/2 $749,749; 4164 West Gulf Dr 4/4 $1.995M.

9 price changes: 4109 San Cap Rd 2/1 now $219K (short sale), 1663 Bunting Ln 3/2 now $384K (short sale), 1809 Farm Trail 3/2 now $479.9K; 566 Boulder Dr 3/2 now $569.9K, 1278 Sand Castle Rd 4/3 now $699K (short sale), 1148 Harbour Cottage Ct 3/3 now $789K, 1019 Lindgren Blvd 3/2 now $849K, 600 N Yachtsman Dr 3/2.5 now $1.139M (short sale), 2969 Wulfert Rd 6/6/2 now $3.9M. 

5 new sales: 1105 Skiff Pl 3/2 listed for $484K, 9127 Mockingbird Dr 4/2.5 listed for $597K, 5690 San Cap Rd 3/3 listed for $674.9K, 709 Heather Ln 5/3 listed for $699.9K, 3894 West Gulf Dr 4/3 listed for $799K.

3 closed sales: 4516 Bowen Bayou 4/2.5 $545K, 829 Pyrula Ave 3/3 $1.071M, 885 Limpet Dr 3/3 $1.55M. 

LOTS

No new listings.

1 price change: 9277/9283 Belding Dr now $195K.

No new or closed sales

Captiva:

CONDOS

1 new listing: Captiva Shores #3A 3/2.5 $699K.

No price changes.

No new sales.

2 closed sales: Sunset Beach Villas #2314 2/2 $515K, Beach Villas #2532 2/2 $720K.

HOMES

Nothing to report.

LOTS

Nothing to report.

(This representation is based in whole or in part on data supplied by the Sanibel & Captiva Islands Association of Realtors or its Multiple Listing Service.  Neither the association nor its MLS guarantees or is in any way responsible for its accuracy.  Data maintained by the association or its MLS may not reflect all real estate activity in the market.)

As 2009 comes to an end, thanks for reading my blog.

Happy New Year and best wishes from all of us at The SanibelSusan Team for a healthy, prosperous, and safe 2011.

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